The world’s first initiative to establish cooperation within the stablecoin space is coming from the world recorder hyperinflation capital of Budapest. In a secret room at Blockchain Budapest conference on the 8-9th of November Global Stablecoin Association (GSA) will be established. Followed by presentations from stablecoins on the main stage where also leading blockchain and cryptocurrency experts, such as smart contract inventor and blockchain veteran Nick Szabo will have presentations.
In a recent article, Bloomberg stated that stablecoins are the holy grail of the crypto market. This is the hot, new and fastest growing area within the cryptocurrency space. But there’s a lack of information about stablecoins. Very few people know how and why they are working and what are they good for. Also, regulations about cryptos are usually unclear, inconsistent, in the case of stablecoins it’s even more obscure. Are they securities, utility token, virtual currencies or something else? It is crucial to make regulators understand the concept and risks of various types of stablecoins, and to convince them about the usefulness of these types of cryptos.
In the secret room, where GSA wil be formed only stablecoin projects, invited experts from Government Agencies and from the big 4 accounting firms will be present, and all that will happen behind closed doors. Stablecoin projects can still apply to be founding member of GSA.