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In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

Are Paxos Standard Tokens and Stablecoins Dollar Imperialism?


Studying Stablecoins with the New Digital Dollar Paxos Standard (PAX)  

Here is how the Paxos creators intend the PAX Token to work. First you deposit $1 in a Paxos Trust account. Second, Paxos mints a PAX Token. Third, you can send the Paxos Standard Token to a recipient via email, an e-commerce platform, or social media. Fourth, the recipient can spend the Pax Token or cash it in for $1.
Hence, a good way to view Paxos Standard is as a blockchain Venmo. To explain, Venmo is the popular P2P solution PayPal (NASDAQ: PYPL) owns. Venmo uses a smartphone app to make P2P payments easy to access and use.

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