Coleman Church

So they're going to...

With their business and tokenization, they're going to eradicate all kinds of costs and create these two separate markets, which is a partial solution to the home affordability crisis.

That's something everyone can get by.

Wow, that's a great question.

So, are you familiar with the stable coins?

Sure.

So stable coins, when we think about it this way, in simple terms, say crypto like a Bitcoin is sort of a free-floating currency, the market dictates.

A stable coin is more like a pegged currency, so pegged to fiat.

In this case, like Tether, Circle, they're pegged to the US dollar and try to keep it stable at parity, one-to-one.

So what they are is a... And there are national currencies like this.

Exactly.

Yeah, Panama's dollarized.

Stephen Hanke was a big dollarization component.

They tried to do it in Argentina.

It didn't work.

Hong Kong's got a dollar peg.

So the stablecoins, they try to keep parity with the dollar, and they're theoretically backed by...

um treasury bills so money comes in the money gets invested in treasury bills one for one you're backed by triple a rated short dated no risk uh but it become these become a conduit for all these transactions uh on the chain automatic through these so it could go through go through the uh the stable coin and into other things from there as a sort of a conduit

Now, that's all good and well, as long as we're sure that those stablecoins are taking dollar for dollar investing in what they say they are without a lag or without moving too far away from that.

Tether at the moment, it seems to be diversifying away from strict EVOs and they've been moving into gold, which is working for now, but yet to be determined how that works out.