Discover in video Nathalie Janson’s prediction about stablecoins. US-based banks will receive deposits linked to the issuance of stable coins, which will increase the attractiveness of these? The reflections presented in this series of predictions also touch on other ideas of the macro-economic order. We invite you to discuss each prediction made by sharing your opinion with us.
What is the OCC?
The Office of the Comptroller of the Currency (OCC), also known as the Office of the Comptroller of the Currency in the United States, is an entity of the US Treasury. Its purpose is to regulate, supervise and monitor domestic and foreign banks (including savings banks) and to prosecute illegal behaviour with the aim of promoting competition in the sector. The idea is also that this body will improve efficiency in this area. This body was established in 1863 by the National Currency Act. Official website.
What are Stablecoins?
Stablecoins are stable currencies. The objective being that the value of a stablecoin should be as close as possible to the asset it wishes to replicate. For example, the value of a USDT (Tether) will always be close to one dollar (USD). This allows players in the world of cryptography to benefit from a certain stability. In fact, the value of cryptocurrencies regularly fluctuates sharply both upwards and downwards. Thus, if 1,000 USDT circulate, the issuing entity must have 1,000 USD in a bank which will allow the players to recover their dollars when they wish.
Nathalie Janson says that the OCC has recently stated that banks and savings banks will be able to receive deposits from stablecoin issuers. That is to say the reserves that cover the issued stablecoins. Thus, these institutions will become the guarantors of the stablecoin coverage. Very good point for the owners of these stable Bitcoin Investor, they could benefit from the insurances of the deposits cover. On the other hand, issuers of stable cryptos will have to comply with current regulations such as banking secrecy, anti-money laundering and on the verification of identity of the end users of these stable digital currencies. Only the stable corners 100% backed by fiat currencies (euro, dollar…) are concerned.
More information on the Institute of Economics
An association created in 2011, the Institut de l’Iconomie is an independent think tank that analyses the stakes, the balance of power, as well as the risks and opportunities in order to design a possible future. Its members often have opposing sensitivities, which requires them to refer to the rigour of foresight, hence the formation of predictions.
The Institut de l’Iconomie is made up of entrepreneurs, economists, managers, statisticians, researchers and sociologists.
The speakers in this webinar are therefore not from the „crypto-sphere“ and do not necessarily share the ideals of the cypherpunks or the majority of people who possess crypto-actives. However, it is always interesting to see how the future of the cryptomatics industry is perceived.
You are invited to vote in order to give your opinion on each prediction, but also to debate, comment and make your views known. Click here to view other predictions by members of the Institute of Economics.