According to the CEO of issuer company of prominent stablecoin USDC Circle, Jeremy Allaire, the institutions involved within traditional finances are in a state of vulnerability given the notion of full-reserve banking systems. The opinion of the Circle CEO came during a recent discussion with a famous Shark Tank investor.
As per the report, Jeremy Allaire was discussing the changes within the financial landscape with Kevin O’Leary, a known Shark Tank investor. Circle CEO says that in comparison to the traditional systems which are used by the banks in tradinila financial systems the new age blockchain technology is mocy more efficient and reliable when it comes to move money from one place to another and to track it.
Allaire says the technology used in moving money to make it slow or fast could be expensive or cheap respectively. But there are a lot of models which are just like the given models which are immensely outdated. Such systems default in terms of keeping track of much...
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