Bitcoinist spoke with Jeremy Dahan, founder and CEO of diamDexx, a diamond-backed stablecoin that promises to make cryptocurrencies more practical for everyday use.
In the decade since the 2008 financial crisis, the monetary system has changed tremendously. Once unshakable pillars of the industry no longer exist, and new financial instruments, like digital currencies, have become more accessible.
At its peak, Bitcoin and hundreds of other digital currencies achieved a market cap of nearly $800 billion. But despite a well-publicized price drop, these tokens continue to be popular investment vehicles in the digital age.
Of course, that doesn’t mean that they are fulfilling their purpose. Bitcoin was initially intended to serve as a borderless, decentralized currency that could facilitate commerce in the digital age. However, it’s erratic valuations, and broad speculative interest has made it more akin to digital gold than to usable currency.
Consequently, a cadre of asset-backed stablecoins have emerged that combine the…