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Stellar Lumens (XLM) Denelle Dixon on Stable Act and Sgfintech fest

Sgfintech fest is the exciting thing for blockchain knowledge seekers now in the blockchain space.

Denelle Dixon tweeted:  “Look forward to discussing all things CBDCs & stablecoins with this great panel tomorrow at @sgfintechfest.”

The infrastructure summit that Denelle Dixon points to will be discussing about whether CBDCs will disrupt the stable coins.  The panel of speakers that Denelle is excited about will consist of Andrew McCormack from Bank of International Settlement Innovation Hub; Charles Cacarilla from Paxos Trust Company; J. Christopher Giancario Senior Counsel from Willkie Farr and Gallagher LLP; and Illiana Oris Valiente from Accenture.

Denelle Dixon responded to the Stable Act, which is about introducing new legislation on the stablecoins.  Of note, these legislations are questionable.

Denelle felt that the potential of the blockchain technology will be stymied if the leaders try to fit the technology in to old regulatory frameworks.  She expressed that the Stable Act will exactly do that.  Also, that these kinds of legislations will only put the power back in to the hands of the banks rather than with the people.

In this regard, Sydney Ifergan the crypto expert stated:  “Denelle Dixon of Stellar Lumens (XLM) is right about the Stable Act.  Decentralization is actually to bring in power to people, but the stable act does the opposite.  Purpose of blockchain defeated.”

Also, it just looks like the banks will take up the role of issuing stable coins.  The idea of stable coins is a very good innovation and it is important to create the right regulatory framework to ensure that this innovation is put in an appropriate package to be tailored well.  It does not help falling back on the legacy system.  New solutions need new kind of thinking.

The Stable Act focuses on coming up with solutions which protect and empower the consumers while at the same time encouraging innovation.

Stellar Lumens Updates

The Stellar Dev Digest: Issue #70 reinstates on how Stellaris a platform which connects banks, payment systems, and people. He further talks about Integrating to move money quickly, reliably, and at almost no cost.

Since the announcement that USDC was coming to Stellar, users have been curious to know more about it.  Therefore Stellar have released an USDC FAQ.  This addresses the technical and high level questions.

The details of the new releases like Stellar Code v15.1.0 and Horizon v1.12.0 were covered.

The Stellar Podcast revisited their success in Stellar Quest, Meridian 2020, the launch of Protocol 15 and otherwise.  For those who missed the entire event of the discussion between Tyler and Kolten is available for view.

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