Peter Tapling
speaker
497 appearances
2 recordings
1 series
first heard Mar 2025
last heard Jul 2025
Peter Tapling’s voice in public audio — every appearance, attributed to the second.
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The ecosystem part is really important.
You know, if you take a tap card and you tap it to an NFC reader, the reader will be able to read it.
But the reader can't do anything with it because it's not within the ecosystem.
And so I think one of the important leaps that this standard has made is not only defining a payload, but also defining a way that the payload can be used between trusted parties.
Yeah, this is probably a podcast all in itself, but I'll try and do it quickly.
So, yeah,
Back in January, President Trump issued an executive order that the United States should take a leadership position in digital currencies.
The embodiment of that is the Genius Act, along with the Clarity Act and what's called the Anti-CBC Act.
What the Genius Act is, is an act that
brings into fruition a market for stablecoins.
And so the concept of a stablecoin is that it is a digital currency, meaning it is a wallet-based mechanism, not an account-based mechanism that you can use your wallet and transact directly with someone else's wallet with no intermediary.
Now, of course, there's an operator of the stablecoin ecosystem, but let's step aside from that for a minute.
A few provisions of the law
All the value of a stablecoin needs to be backed 100% by US treasuries or US treasury-like investments.
And they need to be highly audited.
There are consumer protections in there such that if the company operating the stablecoin ecosystem goes bankrupt, the investors do not get the first cut.
The first cut at the money that's left goes to the people who are holding the stablecoin.
God forbid that ever happens.
But the important part there is that they've given thought to saying, hey, we need to make sure that if we're going to make this a thing in the United States, that we protect consumers
and protect the value that they have placed in stablecoin.
Showing 41–60 of 497 · page 3 of 25
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