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Experts are amazed at the possibility of using a stable coin associated with the euro

July 25, 2020

In collaboration between DeFi Lab, RSK and Money on Chain, they assess the interest in a stable cryptocurrency with a Euro index and Bitcoin collateral. In this context, a meeting will take place on Wednesday 29 July at 7 p.m. (Madrid, Spain time). This was reported to Cointelegraph in Spanish by the DeFi Lab through a statement.

“The meeting is co-organized by RSK, a company dedicated to building an ecosystem of smart contracts on Bitcoin. Money on Chain, a stable currency project linked to the dollar, supported by Bitcoin and based on the RSK blockchain; and the Spanish-speaking community of DeFi Lab, which specializes in decentralized finance (DeFi), ”they explained in the statement.

The moderator is Covadonga Fernández, founder of the Blockchain Observatorywhile heThe participating panelists are: Leif Ferreira, co-founder and CEO of Bit2Me, a benchmark exchange house in Spain; Gabriela Chang, CSO and co-founder of EthicHub, a crowdlending platform that connects small farming communities with no banks to investors; Maximiliano Carjuzaa, co-founder of Money on Chain, creator of the MOC-stable currency against the USD; Arturo Monzón, co-author of “The Book of Satoshi”; and Guillermo Abellán, co-founder of DeFi Lab, a Spanish-speaking community that specializes in decentralized finance or DeFi.

Different stable coins

Experts are amazed at the possibility of using a stable coin associated with the euroExperts are amazed at the possibility of using a stable coin associated with the euro

As determined by the organization, USDT and DAI are among the most important stable coins. In this context, they explained the following: “The first was created by Tether in 2015 with a 1: 1 parity against the dollar. DAI was launched in 2017 by Maker →, a decentralized autonomous organization. It also has 1: 1 parity with the dollar, but unlike USDT, it can be generated by its users through cryptocurrency-backed loans. But there are many more, like USDC, GUSD, PAX or DOC. “

They also made it clear that there are already stable coins supported by the euro, as is the case with EURS issued by the Stasis company, but they stated that despite the fact that the US and European monetary mass is very similar, can hardly be used.

“”Thanks to the support of RSK and Money on Chain, the developers of the dollar-stable cryptocurrency with Bitcoin collateral (DOC), DeFi Lab is carrying out an investigation into the interest of the crypto community in a euro-stable currency. This research consists of various workshops and events to discuss the issue, publications to open the debate in the community, and a number of forms to ask the community, “they noted.

Those wishing to participate in this assessment to see interest in a euro-backed cryptocurrency can submit a form and answer a few questions.

About DeFi Lab

The main goal of DeFi Lab is to offer the international Spanish-speaking DeFi community a channel that serves:

1.- Assessment of usability, risks and benefits of current DeFi projects

2.- Work together on commercialization and look for funding for DeFi projects.

3.- Creation of working groups and hackathons to promote new DeFi tools that solve real problems in the financing of financial companies, non-financial companies, individuals and states.

4.- Inform the Spanish-speaking DeFi community.

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