[Guest Post] With Stablecoins Becoming a Mainstream Currency, Not-For-Profit Element Zero Developing a Transformative Stablecoin Platform that Solves the Stability and Liquidity Issues Affecting the Current Stablecoin Market
by Jude Regev, Element Zero founder and CEO
If Main Street USA was waiting for a sign that Wall Street has embraced the value of cryptocurrency and its underlying blockchain technology, JPMorgan Chase gave crypto a gigantic green light last week by announcing it was the first U.S. bank to create its own digital coin. This new coin, which is in the testing stage, represents one US Dollar and will be used to allow large institutional accounts such as major corporations and other banks to immediately and securely transfer funds, but only within the bank’s closed blockchain system.
As the New York Times reported, this new coin will be available only to big clients, and is “not created to be for public investment,” a JPMorgan spokesman said.
Make no mistake, that this is just the first step toward stablecoins becoming a mainstream currency. While just two years ago, the bank’s CEO declared bitcoin “a fraud,” according to The Times, it appears that the speed and security of stablecoins has not gone unnoticed by the bank’s largest clients, who may be the catalyst for the bank’s turnabout on digital currency.
What’s truly interesting about JPMorgan’s move is that the bank is offering a stablecoin only to its larger customers – read big money clients. And no doubt at some point in the future, JPMorgan will create an offering for its individual clients, the real people of Main Street who often are the last people to benefit from Wall Street’s innovations and subsequent successes.
This is precisely why our company, Element Zero Network, has developed a new next-generation payment system that is designed for people from all walks of life to benefit from the safety, security and stability that cryptocurrency offers. Our payment network, which is based on an algorithmic stablecoin creation platform, enables businesses, organizations, and even governments to create their own stablecoin free of charge. We’ve based this platform on a new stability methodology that is not tied to the US Dollar or any fiat currency, thereby eliminating the possibility for any volatility in the first place.
Interestingly enough, this new payment system was developed quite by accident. Element Zero was created by Jointer, Inc. a blockchain startup based in Silicon Valley, CA. Element Zero emerged from Jointer’s need to provide its users a solution for stable, decentralized cryptocurrency payments. After in-depth reviews of existing stablecoins, Jointer concluded that none of the current stablecoins in the market were truly decentralized or 100% stable. Another factor identified during due diligence was that none of the stablecoins combat inflation, something needed in order to protect long-term value.
Early in the development of its proprietary stablecoin and in partnership with Nobel Prize winners and world-class financial experts, Jointer realized how many industry problems the new Jointer’s stablecoin could solve and how wrong it would be to limit this solution exclusively to Jointer. What started as a specific stablecoin for Jointer soon expanded into a global solution. Against this backdrop, we decided to establish Element Zero as an independent and autonomous entity that will belong to the public and be a not-for-profit organization.
It’s solutions like the Element Zero Platform that will truly benefit the people who live and work on Main Street USA or in any other country in the world. It will take the gravitas and trust of large financial institutions to help normalize digital currencies. But these organizations – as publicly-traded entities – will always be looking to make a profit, and profit they will from cryptocurrency and blockchain.
It won’t be long before more banks and governments jump into the digital currency world and issue their own currencies and blockchain platforms – in fact, some in Europe have already done so. Digital currency has arrived on Main Street. The question becomes, who will profit and who will benefit?
Author BioSerial entrepreneur Jude Regev has successfully grown five companies including Element Zero, a not-for-profit organization based in Silicon Valley, CA. Its new Stability Protocol is designed with the hope to make the world a better place for all by protecting against long-term inflation and eliminating the possibility for any volatility in the first place.
Jude also developed Jointer, which creates blockchain solutions to increased liability, improved returns and minimized risk for real estate property owners and investors. For investors, Jointer offers return based on commercial real estate index in a way that an average person- one with zero knowledge or experience- can invest and receive high returns like an owner while minimizing risk like a lender. For property owners, Jointer offers tokenization solution to unlock equity at free cost.
Image via PR firm Interdependence