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IBM Unveils Digital Asset Platform as Demand for Tokenization, Stablecoins Grows (www.coindesk.com)

submitted 1 month ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world

6 comments fedilink hide all child comments

The IBM Digital Asset Haven, developed with Dfns, aims to offer banks, governments and enterprises a full-stack platform for token custody, governance and compliance.

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[–] Darkcoffee@sh.itjust.works 4 points 1 month ago

Not the sign of a dying company at all, carry on.

[–] phutatorius@lemmy.zip 2 points 1 month ago (1 children)

Can someone explain the rationale for having stablecoins at all?

[–] BD89@lemmy.sdf.org 1 points 1 month ago

That's usually for people who trade crypto so they stable up during dips or whatever then buy back in.

Personally I think it defeats the whole purpose of a decentralized currency to have it tied to a Fiat dollar. Would be more beneficial to have it tied to a resource of some sort or something similar for some semblance of "stability". In my opinion, of course.

[+] technocrit@lemmy.dbzer0.com -9 points 1 month ago* (last edited 1 month ago) (1 children)

People really thinking that paper covered in enslavers and selfishly controlled by the most corrupt people on the planet is going to outlast open, decentralized, global networks.

https://en.wikipedia.org/wiki/Civil_religion

[–] phutatorius@lemmy.zip 3 points 1 month ago* (last edited 1 month ago) (1 children)

Yeah, much better to trust some random scammer on the internet.

Speaking a common language is a social convention too. That doesn't mean there's a need for someone to start teaching people Volapük.

And if you think developed-country governments (with the exception of the current US kleptocratic kakistocracy) are where you find the most corrupt people on the planet, you might need to get out more.

[–] BD89@lemmy.sdf.org 1 points 1 month ago* (last edited 1 month ago)

But that's just the problem isn't it? You highlighted yourself how untrustworthy the US government is.

So what if you live there dude? Can't easily get Euros and shit although gold and silver is an option for now until they pass a law banning gold again like they absolutely did before.

So what then? Put it all into their dollar? Fuck man idk. I definitely hate memecoins and shit but crypto as a whole doesn't really seem like that bad of an idea to me. You can hide it a lot easier than gold and silver and they can't bring a sniffer dog that will find bitcoin in the backyard.

Sure they have electronics smelling dogs but if you memorize a seed phrase and don't write it down its yours forever so far they can't read your mind and extract it from you short of torture but even then they have to know prior that you had it before and that you didn't forget the seed phrase.

I agree crypto has a lot of scammers and ignorant shit attached to it, but I also agree that blindly putting ALL of your eggs into the fiat basket isn't the best idea either. I think diversifying between certain (definitely not all) cryptocurrency and gold and silver is the best bet. I know I know people will hate me for saying that but damn I don't understand why people know to hate the government but LOVE their money and don't ever question that at all.

Edited to add: I'm gonna be real if I lived in a nice stable country with a government I respected and felt like respected me and their allies around the world I probably wouldn't fuck with crypto. But I don't. Along with millions of other people.

When they use some bullshit app to scan my face and say I'm not a citizen while throwing away my papers and licenses proving I am and ship me to some even worse shithole country and freeze my bank accounts and take all my gold I could still have that seed phrase memorized that they never knew about.

And wow, turns out the impoverished country I'd go to would accept the crypto for payments because they know even better not to put all their eggs in the government issued bank note basket.

Why do people hate that truth so much? Because there are bad people that exploit it? Shit dawg, how do you think the US Dollar got dominance?