Circle founder personally stated: Why did I dare to go all in stablecoins 7 years ago?
Source: BlockBeats Original title: Circle Founder: 7 years ago, how did I become the world's second-largest stablecoin giant Circle, all in stablecoins, listed on the NYSE and started trading. This is the second-largest native US stock listed company born in the cryptocurrency industry after Coinbase, the largest US cryptocurrency trading platform in the US in 2021. Four years ago, the listing of Coinbase ushered in the peak of Bitcoin, and four years later, just in time of the cryptocurrency cycle, the listing of Circle made everyone see a new narrative of cryptocurrencies — stablecoins. Simply put, a stablecoin is the tokenization of the US dollar, and the value is anchored to the dollar. 1 token = 1 dollar. Stablecoins, and the RWA (real-world asset chain) concept behind them, have been clearly different from previous years. The advantages of the US stablecoin policy and Hong Kong's stablecoin policy, combined with Wall Street's interest in RWA projects represented by Wall Street giant BlackRock, and the current situation where old money is entering stablecoins, have quickly taken off the RWA and stablecoin concepts. Circle was not so favored earlier. With BlackRock and Mu's sister Cathie Wood scrambling to buy the IPO share, the IPO valuation rose again and again, from 5.4 billion US dollars to about 7 billion US dollars now. In the Bitcoin white paper, the definition of Bitcoin is: a peer-to-peer electronic cash system. However, today's Bitcoin has long been a financial product, and no one will use Bitcoin for payment. The only thing that can be used for peer-to-peer electronic cash systems is now the only thing that can be used with stablecoins. This is the real imagination of stablecoins. Jeremy Allarie, founder of Circle, saw it all seven years ago. Below is a summary of Jeremy from Groove BlockBeats. The “seller” of the Web 1.0 era, I first came into contact with the Internet in 1990. What really interested me was that I experienced firsthand the power of open networks, distributed systems, decentralized architectures, open protocols, and open source software. I often refer to these as the “DNA of the Internet.” During that time, I was also watching the process of the dissolution of the Soviet Union. I was deeply shocked by this structural transformation. At the same time, I began to study technology in depth, and became more and more convinced that the Internet would change the world. By 1994, the first graphical web browser technology was introduced. At the time, I suddenly realized that we finally have a kind of software that can display content, applications, and various things on a web page, which gave birth to the concept of “the Web as an application platform.” So my brother and I co-founded Allaire and launched ColdFusion, the first commercially available web programming language. Although there was Perl at the time, and others would write dynamic page logic in C on web servers, ColdFusion really made web application development simple and easy to use — as long as you had an idea and about a thousand dollars, you could use it to make a web application that can be used interactively in a browser. In 1995, this was already a big breakthrough, and with the rise of websites, e-commerce, and online content, we jumped on this wave. Allaire has also developed a complete set of tools, and millions of developers around the world use our software. As the market matured, we successfully listed our company in early 1999. It was a bit “alternative” at the time because we went public profitably — but during the internet bubble, most companies lost money when they went public. But we are more like “sellers” in the Internet 1.0 era, providing basic tools for the entire industry. After going public, we merged with Macromedia, which was also a giant building internet and content development tools at the time. After the merger, I became the CTO of the new company and began to drive the development of Flash applications. It was a very powerful software at the time, which allowed web pages to achieve more complex multimedia presentation and interactive experiences. The “political economist on the couch” fell into the crypto rabbit hole back to when I first came into contact with the Internet. I was originally studying international politics and economics. I was interested in comparing various economic systems and political systems, and I was very interested in macroeconomic issues such as the international economic system. Then I was excited because of the internet, and the information transmission and software brought by these open networks...