Stablecoin > Fractional Reserve Banking
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Carbon credits as an on-chain asset offer an interesting opportunity because they have a social fundamental value that is substantially de-correlated from crypto. This makes them useful as e.g. stablecoin collateral.
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Been thinking a lot about carbon credits lately. A key issue is credibility - how do I know that money spent on carbon credits has actually induced change, rather than rewarding someone who was going to do the same thing anyway? Lots of already profitable solar installations also receive subsides, which is wasteful.
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