Since the creation of Bitcoin, many digital currencies have emerged to meet the various needs of users or, in most cases, to solve some problems that have arisen in the blockchain environment.
Cryptocurrencies have allowed their users to visualize a changing economic environment from another perspective, where investments in some cases represent high risks, while in others, their simplicity generates unimaginable profits. And trade in https://cryptotrader.software/.
WHAT IS A STABLE COIN, AND HOW DOES IT WORKS?
Stablecoins represent digital tokens anchored to a fiduciary currency or currency in particular, that is, the dollar, euro, to name a few, or, failing that, a basket of currencies.
Crypto assets can even back these types of tokens to give them a stable value.
Currently, cryptocurrency operators are looking for options that allow them to reduce the volatility of digital currencies. That is why they opt for stable coins, where the value of investments in cryptocurrencies does maintain without being dependent on fiat currencies.
The commissions generated with the Exchange of stable coins from one Exchange to another are minimal; even with this digital currency, it can achieve easier transactions.
It is important to remember that the most exciting thing about these cryptocurrencies is their stability.
WHO IS META?
Due to the significant participation of large companies in the cryptographic business, the owner and creator of Facebook Inc. are interested in designing and launching his cryptocurrency in the digital market in the form of a stablecoin or digital token.
This option generates curiosity and, of course, interest in the young visionary because this type of token, as explained above, is linked to some asset that allows more excellent stability to investments.
After several attempts and partnering with more than 25 companies to create their token, Libra initially emerged, representing the first stablecoin that would shake financial services with its innovative concept. Still, unfortunately, it did not work as expected.
Tremendous pressures arose regarding the external controls and regulations of the financial world, causing several of the corporations to withdraw from the project.
In turn, Zuckerberg began to make some corrections and improvements to the digital currency on his behalf, giving rise to Diem, which adapted to some of the regulations imposed by the North American Congress.
After all these modifications and the generation of new opportunities that would make the Facebook project grow, this time under the name of Meta, it promises that Diem will represent a new way of seeing finances, including applying them in the digital environment.
A PROJECT ABANDONED HALFWAY
The insatiable desire of the creator of Facebook to change the financial world where, through Diem, many social network users, Messenger and Whatsapp, could make payments to each other without using banks or third parties has possibly reached its end.
David Marcus is the person who was behind most of Facebook’s projects for many years, currently known as Meta, leaving the corporate during Diem’s creative process, even stating that Meta’s cryptographic project is only in its initial phase.
Many modifications and processes must adapt for such an ambitious project to change payment methods and the traditional financial system to be executed.
Still, it now seems more complex with the withdrawal of the executive from this important platform.
Currently, the partnership created between various technology companies and venture capital firms to carry out the Meta project is around USD 200 million.
The project did stall, and it is Meta’s responsibility to face its associates since a third of this society corresponds to such a popular social network.
Many of these companies are still anonymous, but even so, there were many funds invested in creating this platform, which emerged as a restructuring of the digital currency Libra, this time under the name of Diem Association, where together with Silvergate Bank, create a dollar-pegged stable coin.
CONCLUSION
Although stable coins emerge as a cryptocurrency option, allowing you to link this type of digital currency to assets that offer the necessary stability for the investments of large corporations, it is not so easy to maintain them in such a competitive market.
Just as we were able to analyze the case of Meta, these are projects that require support and continuity in their design, creation, and launch to the digital market.
