Were a low volatility cryptocurrency to be adopted widely for payments, that may not necessarily be a good thing, according to Nevin Freeman, chief executive of Reserve, a stable coin project. Freeman, whose San Francisco-based company got backing from Peter Thiel and crypto exchange Coinbase Inc., said stable coin issuers have a responsibility to create robust and transparent tokens, especially if their coins are to be used widely.
“It’s insane that random money-hungry entrepreneurs are being given the chance to create the next form of money -- shouldn’t that be left to people who understand monetary policy?” said Freeman. “There’s a bunch of people in the industry moving fast to profit off of the bubble.”
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