Sometimes, we need time to digest what effects certain actions will have on the market.
I have asked AI to sum up what the GENIUS act is all about but I think I am too tired to retain all of it lol
From what I understand there is legal clarity in regards to who can and who shouldn't be able to create stable coins and what the rules are. For example you have to have a 1:1 reserve from what I understand plus there are lots or prerequisites and transparency rules that go into this.
The pDAI community are super bullish on pDAI now, thinking they are in a good position to move forward as a decentralized stable coin with no central authority or issuer.
This got me thinking about Hive Backed Dollars.
What I am thinking is how does this benefit HBD?
As I am writing this though I am answering my own question... Even if this is good news for HBD, it doesn't matter if no one knows about it.
Me posting here is only telling you guys. If you have a following on X or Facebook or whatever, share Hive based articles as much as possible so people get more and more exposed to our ecosystem
Marketing is what we need, we have a "good enough" infrastructure. None of these legal developments matter if no one knows about us
Im trying to think though why would someone use HBD when they can use a more "accepted" stable coin that may now have more features and benefits.
Maybe if shady people need to move around without the US looking at them, HBD might help, but is that the market we want on our little island? I personally don't want any more negative press, we've had plenty of that with the whole steem Justy situation. We saw how much misinformation was going around then...
Will finish up this post and browser around and see what you guys think about the GENIUS act