Decentralized Stablecoins: A Conversation With EURST’s Simone Mazzuca
What's your background? How did you get involved in crypto/blockchain?
SM: My background for many years is in the field of traditional finance. I was working as a consultant for major financial institutions. I got into the blockchain industry in the past 3 years, and ever since then I have been standing for this industry, and the future of finance. In January 2020 I established Wallex Trust and Wallex Custody as an institution. Via our platforms and services, we provide crypto exchange, crypto payment gateway in Wllx Pay, crypto and fiat wallets for users, as well pay by crypto, by card in Tokash, which will launch soon. I came up with the logic of EURST, by noticing the gap in the market for a strong euro stable coin.
What value does EURST bring to users?
SM: EURST is one of the first euro stable coins, which is live audited, and asset backed with dollars. It provides stability to the users, through the secure technology used, transparency through the ledger, and fast settlements. The value which it provides to the customer is that it successfully bridges the gap between traditional currencies, and volatile crypto currencies, while providing strong transparency.
Where do you see EURST five years from now?
SM: EURST will be one of the most commonly used crypto currencies, and the most trusted and secure one, due to the live audit and the structure itself.
What are the most common misconceptions you hear about decentralized stablecoins?
SM: The most common misconception is that decentralized tokens are used mainly for money laundry. On the contrary, their usage is largely increasing, and will keep increasing, as they respond to the needs of the market for ease of transfers, unmatchable with the traditional currencies, and they are an alternative to the more and more complicated and heavy traditional banking system.
What’s next for decentralized stablecoins in 2021?
SM: I am sure that stablecoins will be adopted largely by the public, and will be more and more used. 2021 is the year for this.