Founder at MIT Cryptoeconomics Lab,
@ccatalini, on Tokenized with cohosts
@sytaylor and
@cuysheffield said the real test for OpenUSD isn't the crypto-forward fintechs, it's whether a G-SIB walks away from its own stablecoin plans to use it instead.
"I don't doubt that even given the initial set of partners, OpenUSD can do really well in the forward looking fintechs that are building wallets, new infrastructure and products and services."
"Can OpenUSD essentially convince them that, like, why bother? This is already the right structure."
"Is it neutral enough? Or do you worry about the influence of Stripe or Coinbase or Mastercard and Visa in the mix."
"This consortium can get together effectively and ship wonderful product experiences, people will gravitate towards it, and the economic design is the right one."
"It's very similar to what we had in Libra. A few months into the process, there were already discussions between different members that have conflicting incentives."
"That would be ultimate victory for this standard if you can convince banks to peel off and start using it."
At least one effort with 21 or more institutions is already trying to build a bank-owned alternative.
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