On Thursday, August 27, 2020, the World Stablecoin Association (WSA) will host the first ever World Stablecoin Summit, bringing together some of the brightest minds within the stablecoin community. This free-to-attend event will be streamed via Zoom, Youtube, and within the Crypto Convention Center in Decentraland, providing an interactive virtual experience during these unprecedented times. The Summit will feature the likes of TrustToken, BRZ, DigitalBits, QCAD, CBRL, Blockgeeks, Consensus Lab, with founding members VirgoX and GDA Capital leading the charge.
Stablecoins are on the verge of a cambrian explosion. With total market capitalization now exceeding $11 billion, and transaction volumes consistently topping those of flagship cryptocurrency Bitcoin, this emerging crypto asset class has only just begun to showcase its utility. The WSA launched in the midst of immense stablecoin innovation, and looks to provide a united front to address both technical and regulatory concerns. Its presence will not only help to establish clarity and best practices, but foster collaboration between projects.
One of the major factors limiting blockchain adoption today is the immense volatility. Although cryptocurrencies have provided arguably a superior medium of exchange when compared to traditional financial infrastructure, the lack of stability does not allow many of these assets to function as an effective store of value or unit of account. This is where stablecoins come in, combining all the benefits of blockchain technology, with the stability necessary for everyday commerce.
“We are on the cusp of disruptive innovation within the stablecoin sector,”
said Adam Cai, CEO at VirgoX.
“Stablecoins have only begun to demonstrate their utility. With a total market cap exceeding 10 billion, the applications of stablecoins globally are ever expanding. With the WSA, the ecosystem will grow significantly in the coming year.”
The World Stablecoin Summit is the first of its kind, and the largest gathering of stablecoin projects. This is a forum for disruptive companies, innovators, investors and advocates of the stablecoin community. Participants will discuss mainstream adoption, governance and policy, and the inevitable impact that stablecoins will have on modern finance, economics and global culture.
Andrew is a writer that does most of his work on cryptocurrency-related topics. While he’s primarily interested in Bitcoin, he also follows major altcoins and the innovative ideas that new cryptocurrency and blockchain projects are bringing to the table.