Stablecoins will be the payment infrastructure of the internet - Stani Kulechov

[Music] first of all like we have an incredible Community across the ecosystem but then going into the more wider adoption it requires a bit more work for example scalability is one of the topics that I'm researching quite a lot these days so how do we take the tech and actually scale it to the wider audience and all the application layers [Music] blockchain itself is a technology right so so as any technology it takes a bit of time to get more adoption so which is going back in time for example when when we saw the adoption of internet internet was getting first early adoption through universities research facilities and then later a bit more consumer adoption so I think that's the kind of like the same aspect for blockchain so we will see a lot of Technology being built a lot of layers that helps to adapt the technology into traditional consumer usage and regarding the internet example it was the Broadband that actually took everyone into the internet so I think scalability is also part for blockchain to to get into scale [Music] so for me I think what was fascinating to see is that you have this great accessibility you know it can be Financial Services or non-financial use cases so I grew up on on the internet so I had the access to all the information globally you know we have Wikipedia you can create relationships with people that you have great distance with and with blockchain I saw this ability that it creates the equal access to everyone to to participate the same Financial uh or social opportunities and the end result is also that everyone who are contributing there also are governing uh these protocols and participating in how the networks will be built in the future and I think today if we look into what's what what I wake up for every day I think just to innovate so I'm very into building new things and and the blockchain spaces where there's sort of things to to do at this moment so that keeps me very busy thank you well the way our protocol works it's uh we have a concept called liquidity protocol so it's a set of smart contracts that are deployed on the blockchain and those smartphone Jacks have specific rules for example how much you can earn interest on the assets you're supplying and if you supplied some of the cryptographic assets how much you can borrow against them other type of cryptographic assets and the protocol is something that we developed by the avedao a decent trust governance is actually governing the protocol and making decisions on how to improve it in the future or change different kinds of parameters but in the simplest form what it does is it allows to everyone to have the same equal opportunity to access the financial opportunity and so yeah basically that's that's what other is it's pretty much the same vision that could be into this space [Music] it's quite interesting because I mean go is its launch on the test net so it's it's not on production and environment yet but what go actually does it creates the ability for the Java ecosystem to have a native stable coin and use the revenue that it gets as a dow and direct them into the initiatives that are within the other ecosystem I personally think that stable coins are very right for being as the payment infrastructure over the Internet we have 5 billion internet users today but we are still using the very traditional ways to pay over online which might be credit card networks or or such stable coins they bring more transparency accountability and and also programmability into the payment applications so I think now we're in a moment where we could see some of the stable points that are built well going into more adoption over the internet thank you [Music] foreign