PwC, the global consulting and assurance firm, recently signalled its entrance into the cryptocurrency world by announcing a partnership with decentralized lending platform Cred. Cred (previously Libra Credit) was founded by PayPal technology veterans and intends to produce an entire suite of crypto assets, including a US dollar stablecoin—a digital asset pegged to the price of the US dollar.
What Is a Stablecoin?
Over the past two years, there has been increasing interest in blockchain as a technology for data sharing and traceability in industries ranging from shipping to food to diamonds. There has also been a rush of initial coin offerings, a form of capital raising based on digit assets, with over $20.6 billion raised this year.
At a time when the miraculous success of vaccines has transformed the battle against the pandemic it is fitting to recall the general idea, and unexpected history, behind vaccination, writes Matt Ridley, bestselling author of The Rational Optimist and How Innovation Works.