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Stable Coins and Banking

By Michael Nye

Sign up for our newsletter at Evolvement is a podcast hosted by Nye that revolves around Bitcoin, cryptocurrency, blockchain technology, and how these play a role in the current financial models and economic systems of the world. Episode Six features Kory Hoang from Stably, the company that has created StableUSD. In this podcast, Nye and Kory discuss the importance of Stable coins in the cryptocurrency ecosystem and how they can play a role in the future of banking. Kory tells us a little about the different categories for stable coins, how they bring in revenue, and why it is important to have way more than just one stable coin in the crypto atmosphere. He also speaks a little bit about his past experience working in banking and how he learned a lot about the possibilities of cryptocurrency from working in that industry. Also, Kory and Nye discuss a little bit about Tether and the situation that occurred back in 2017 when Tether reportedly printed more coins in order to pump the price of Bitcoin and cash in big. Kory then talks about this being the reason why more than one stable coin is necessary for the ecosystem and how the free market will decide which ones stay and which ones go. You can learn more about Stably and what they are doing with StableUSD here: Timestamps: 01:23 - Tell us about yourself, how did you get into crypto? 05:15 - You went from banking to crypto, do you have a different perception now on banking? 07:42 - How will you see banks and crypto cooperating in the future? 13:10 - What is a Stablecoin and what makes it stable? 15:40 - Is "tether" the reason why there are more stable coins coming out ( because it is not paired with USD)? 21:11 - Why do we need more stable coins? 29:45 - How can you tell the difference between good and bad stablecoin? 37:40 - What is a revenue model for stablecoin? 40:28 - Will banks use their own stable coins in the future? 41:57 - What is "Stably", why did you create it and how is it better then other coins? 46:17 - Where can people learn more abut "Stably".

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