In a session of the AMA (“Ask Me Anything”) on Reddit, the director and co-founder of Circle, Jeremy Allaire, declared that he expects Crypto to have a greater impact on humanity than the invention of the Internet.
Circle is a famous Fintech startup supported by Goldman Sachs that became popular in the US currency market in Poloniex in early 2018. The startup also has its own currency: USD Coin (USDC).
Allaire touched on what originally attracted him to cryptography
He claimed that he had been interested in decentralized systems since the 1990s and was fascinated by his power to democratize society. This was followed by the CEO’s vision for the cryptocurrency in the future.
“From my point of view, crypto is a much more important and disruptive innovation than the web, and its impact on society, politics, economics and governance will be much greater for humanity over time.”
A very popular asset
With respect to the USDC stablecoin, Allaire suggested that it was becoming a very popular asset because it gives great traders access to major markets such as Coinbase, Binance and Poloniex.
Likewise, during the AMA session, the launch of Circle Invest was mentioned, a platform designed to make the investment in digital assets as easy as possible for inexperienced users.
He then mentioned the CENTER consortium and its USDC investment launch, which in its short existence has already received a full audit and reached a market capitalization of almost $ 3.5 million. Finally, he referred to the company’s intention to acquire SeedInvest, a collective financing platform for newly evaluated companies.
Education to regulators
In response to a question about Circle’s efforts to educate regulators such as the Securities and Exchange Commission (SEC) about the cryptography industry, as well as the specific challenges facing the company, Allaire wrote:
“The biggest immediate regulatory hurdle we face is the lack of specific guidance from the SEC on how to classify various cryptographic assets. We believe that many are clearly currencies and raw materials, and it is necessary that there be more specificity about what values really are. This can unlock a lot of activity in the market and also clearly allow the growth of a market for crypto-based values”.
According to the different questions focused on the regulation, Allaire also said Circle’s confidence that fiscal compensations will have to be differentiated for cryptography to cryptography transactions, noting that France has advanced in alternative international locations to seek legal modification For this end.
Lately Allaire has predicted that Bitcoin (BTC) will sooner or later have a much higher value than now, however it stopped wanting Bitcoin’s maximalism, mentioning:
“I guess it’s not the winner it takes everything”. Now we have the word ‘the tokenization of everything’, and we hope that the cryptographic chips constitute each and every one of the monetary assets of this planet. There will probably be hundreds of thousands of them in years”.