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Jeremy Allaire - Why Stablecoins Open Up Financial Systems To The Masses

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Co-Founder & CEO of Circle

Today’s guest is Jeremy Allaire, the internet entrepreneur, economist, and technology expert, who has undoubtedly established himself as one of the most influential figures in the world of crypto right now.

Jeremy is the co-founder, Chairman and CEO of Circle, the global fintech brand that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments and commerce. Formed in 2013, Circle has become the pioneer of the USD Coin (USDC), the fastest-growing, fully-reserved, and regulated dollar stablecoin.

It is governed by the Centre Consortium, led by Circle and Coinbase, and has a market cap of more than $43.5 billion with over $1.6 trillion in transaction volume, enjoying a meteoric rise over the last 12 months and gaining the kind of traction that has made everyone in the financial world sit up and take notice.

Jeremy for his part is an experienced voice having previously been the founder and CEO of Brightcove, the entrepreneur in residence at General Catalyst and CTO of Macromedia.

And his breadth of knowledge is forging new ground and leading Circle’s long term vision with the kind of confidence you’d expect from a man with more than two decades of experience building and leading global internet software platforms.

Jeremy is also leading from the front as a representative-in-chief of the crypto industry with regard to any ongoing discussion relating to regulation and the future. He has also been named to the International Monetary Fund (IMF) High-Level Advisory Group on FinTech and his expertise has seen his policy recommendations sought after at the highest levels inside financial bodies across the US, UK, and Europe.

He has provided expert testimony on digital assets and monetary policy before the US Senate Committee on Homeland Security & Government Affairs and the US Senate Banking Committee.

Jeremy is an outstanding orator when it comes to the big picture questions. His thoughts on an increasingly frictionless world, building a new economic infrastructure, the future of money and of course, the internet itself make for compelling listening.

He highlights the similarities between the digital innovation we’re seeing right now and the internet in the late 90s, but, as he rightly points out, what we saw back then was nothing in comparison to the scale and structure of what is unfolding in the world of the blockchain, cryptocurrency and decentralised finance.

Jeremy believes we’re at a pivotal moment and has pointed out that now is very much the time to raise global economic prosperity. As for the future of cryptocurrency and of course the continuing rise of USDC Jeremy outlines,

“This technology, in particular stablecoins, holds the promise of opening up and widening access to the financial system more deeply than the existing banking system.”

Recently Jeremy also revealed his thoughts on the future price of Bitcoin and his belief that it will surpass gold in market capitalisation and hit a price of $1 Million. Moreover, he believes that gold itself is a relic with extremely limited value as a form of exchange with little or no utility in modern society.

I believe that this technology is revolutionising the world around us. Changing the way we earn, how we communicate and moreover the way we live our daily lives. What’s happened in the last 18 months is likely nothing compared to what we will see in the next 5-10 years.

It is why I encourage each and everyone one of you to get educated about decentralised finance. To understand how and why it will impact your life and how you can make it work to your advantage and benefit from it for many years to come.

There are some very smart people from all kinds of industries that are making the move into cryptocurrency and helping develop new applications to be launched on the blockchain.

When I first looked at decentralised finance, I quickly realised that this was going to revolutionise the concept of money for billions of people around the world, offering ordinary people the chance to reclaim control of their finances.

The opportunities here are those only seen once in a lifetime. But these opportunities will only present themselves to those who are willing to take action and adopt a long-term vision.

That’s exactly what I will teach you at my DeFi Academy.

My team and I are going “ALL IN” on this technology and infrastructure and plan on spending the next 10 years teaching, understanding, broadcasting, educating, investing in and profiting from this exciting new marketplace.

So take just a couple of minutes to look for yourself and consider what this could mean for you and your family’s future.

Download clips

A number of clips from this exclusive interview are now available to download, share and repost. Spread the word: grab these clips today!

  1. Blockchains are a new class of operating systems.
  2. The HTTP of money.
  3. Why is USDC so popular?
  4. What’s behind a USDC?
  5. There’s room for many different stablecoins.
  6. How will blockchains change the world?
  7. This is a natural evolution of humanity.
  8. Jumping on the grenade of regulation.
  9. Is the USA losing the crypto war?
  10. How do politicians feel about crypto?
  11. People need reliable digital coins.
  12. Stablecoins are the predominant transactions.
  13. The utility of Bitcoin is so much higher than gold.
  14. How many layer 1s will survive?
  15. Can central banks run stablecoins?

Chapters

00:00 | Trailer.
02:45 | Brian’s introduction.
04:05 | USDC is less of a coin and more a protocol.
08:24 | When Jeremy Allaire first thought of the http of money, did he ever envisage it embodied as a stable coin?
11:23 | What it is about Circle’s protocol that has contributed to it becoming so popular.
14:18 | The process after someone purchases one dollar of USDC and the assurances given.
19:16 | The differences offered by other protocols like USDT, DY, and Terra (UST).
24:54 | How Jeremy Allaire thinks the USDC could be valued at 10 trillion dollars within ten years.
29:16 | How digital currencies and blockchain could transform humanity.
32:45 | Jeremy’s thoughts on Web 3.0.
38:11 | Going before the US Senate Commission.
41:54 | What Jeremy has learned from speaking to the banking regulators and government policy makers.
47:35 | Is the threat to the US of losing dominance in technological advancement and control, hastening Governmental interest in Crypto currencies in the past year?
52:42 | The evolution of twelve months of regulation.
59:54 | What a stable coin is and what it offers to economic activity.
1:06:04 | Layer ones will need to use stable coins.
1:09:46 | There will be a continued need for major sovereign debt backed currencies.
1:13:47 | Jeremy Allaire’s thoughts on Bitcoin and Ethereum and the future of layer ones.
1:23:40 | The duality of the US Dollar, being useful in utility but is also inflationary.
1:27:27 | Jeremy Allaire’s thoughts on central bank digital currencies (CBDCs).
1:31:06 | How to contact and learn more about Jeremy Allaire and Circle.
1:31:28 | Brian’s summing up.

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