What does Paypal USD mean for Eth ? Will we have a McDollar ??
Paypal launches PYUSD
This does not mean it will get adoption just because Paypal wants it to. There may be regulatory hurdles incoming just as we saw with Libra and Diem for FB // Meta. This is now a clear trend though where larger traditional companies are seeing the immense upside in their own stablecoin products. I dont think this trend is going to die out.
Where does it go ?
I think this is leading to a McDollar. Just as Big Mac index is a good rule of thumb for judging currencies.. a McDollar is a good option for currency itself. Goods or services in demand can be digitalised into currency on the back of the traditional product. This is great for provider and customer both. Prosperity is about speed. From the wheel to the sail to the car to the internet. Moving things (people//stuff) faster is compounding the human ability to create more together. Prosperity.
Can Eth handle it ?
I believe so. There are many "eth killers" now and there'll likely be more popping up esp by more traditional outfits. At this stage though what Ethereum has done to compete well against crypto competitors is add layers with utility related to their core layer flaws. Rollup technology allows Eth to outsource the heavy lifting of smaller transactions. Rather than individual $3 nfts clogging the network one by one we are likely to see places like Paypal use rollup technology to bundle microtransactions and send them thru the network that way. This will reduce costs involved and increase time to settle for everyone.
This does not mean it will get adoption just because Paypal wants it to. There may be regulatory hurdles incoming just as we saw with Libra and Diem for FB // Meta. This is now a clear trend though where larger traditional companies are seeing the immense upside in their own stablecoin products. I dont think this trend is going to die out.
Where does it go ?
I think this is leading to a McDollar. Just as Big Mac index is a good rule of thumb for judging currencies.. a McDollar is a good option for currency itself. Goods or services in demand can be digitalised into currency on the back of the traditional product. This is great for provider and customer both. Prosperity is about speed. From the wheel to the sail to the car to the internet. Moving things (people//stuff) faster is compounding the human ability to create more together. Prosperity.
Can Eth handle it ?
I believe so. There are many "eth killers" now and there'll likely be more popping up esp by more traditional outfits. At this stage though what Ethereum has done to compete well against crypto competitors is add layers with utility related to their core layer flaws. Rollup technology allows Eth to outsource the heavy lifting of smaller transactions. Rather than individual $3 nfts clogging the network one by one we are likely to see places like Paypal use rollup technology to bundle microtransactions and send them thru the network that way. This will reduce costs involved and increase time to settle for everyone.
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