According To The Australian Crypto Exchange Founder, Stablecoins Will Act As A Major Turning Point

Nov 12, 2018 at 16:30 Update Date :Nov 12, 2018 at 16:30 UTC

Asher Tan, the founder of the Melbourne based bitcoin exchange, CoinJar has lately been observed with a laidback and relaxed attitude. Eight months ago, he arrived in Britain and the new observation about him says that he lately has his eyes open about what is happening in the crypto market. He’s been a keen observer on what is the next upcoming big thing. He’s eager to find out the next big thing in the extremely unpredictable and volatile cryptocurrency market.

His keen observations and interest in the market made him discover that the interesting thing which is also on everyone’s lips is stablecoin. Stablecoin is a coin pegged to a currency, specially the US Dollar. “it’s a craze right now” he says. “It helps you transfer money around the crypto ecosystem at a stable rate. But there’s a whole lot of applications or use-cases that could come out of it,” he continues. Stablecoin, along with being the next big thing is also a new thing. It hasn’t been long since people have been attracted to it and money and expertise has found its interest in it.

The relation between the fluctuating bitcoin and its rivals have taken a shape to become like objects of speculation and a store of value, just like gold! In reference to this, Tan says, “I think bitcoin went from ‘hey let’s muck around with this’ to ‘hey this is valuable’, and that changed perceptions. The industry has reacted in several ways. There’s a store-of-value camp, there’s a medium-of-exchange camp – but these are all metaphors of how we use something now. It’s all unfolding very quickly, and if you use a metaphor from the current day to describe something in the future, it’s not always going to work.”

Tan thinks that all exchanges, at some point will consider digitising dollar.

The lure of the United Kingdom, London, is the most popular start-up hub these days. London, sure has been gaining popularity in this sector but nothing beats the Asian demand or the US. The reason Tan is choosing Europe is that its regulation and culture as with the commerce is definitely a plus point to choose the country.

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