1/7 From the statement by the CEO Stuart Levey on the sale of the Diem group's assets to Silvergate — “From the outset, the Diem project has been focused on leveraging the benefits of blockchain technology to design a better and more inclusive payment system.
1/13 Four years ago we came together as the founding team of ≋Libra to use crypto to democratize access to the financial system. As the last person from the original ≋ founding team involved in this phase of Diem, here are some personal thoughts and reflections on the journey.
7/7 In the United States, a senior regulator informed us that Diem was the best-designed stablecoin project the US Government had seen." Full statement: https://t.co/opqtzEm7Cg
1/7 From the statement by the CEO Stuart Levey on the sale of the Diem group's assets to Silvergate — “From the outset, the Diem project has been focused on leveraging the benefits of blockchain technology to design a better and more inclusive payment system.
6/7 As we undertook this effort, we actively sought feedback from governments and regulators around the world, and the project evolved substantially and improved as a result.
1/ What should stablecoin reserves look like? The President's Working Group solution limits innovation to incumbents. With the amazing @theshah39 we offer a solution that can protect consumer and financial stability without stifling competition and innovation!
1/13 "For competition to thrive, a truly interoperable payment system is needed [...] Today, consumers and merchants are locked into "walled gardens". Moving money between banks is expensive, and moving it between digital wallets is often impossible."
Which are the opportunities and challenges for CBDC, and how should CBDC and Stablecoins be designed?
We will explore these questions and more in tomorrow's Meeting https://t.co/XiPBdciPIt at 5:45 PM (BST) with @HesterPeirce,@ccatalini,@natacha_valla,
@fnality,@jonnyfry175
Looking forward to discussing robust stablecoin design and how Diem can contribute to financial inclusion, competition, and innovation in payments and financial services at the Digital Euro Summit @bitkom_block@bitkom_finance https://t.co/PTeWFVO5SP
1/6 Three non-mutually exclusive paths to "upgrading" money to achieve more competition, inclusion and innovation in financial services: (1) True Stablecoins, (2) Deposit (Stable)coins, (3) CBDCs on multiple rails https://t.co/hweSB5lQlG