In fact, during an interview with the Telegraph, the founders of the Gemini exchange, Tyler and Cameron Winklevoss, stated that this cryptocurrency anchored to the value of the US dollar will introduce additional features into social networking.
It should be noted that the twins certainly do not have a good relationship with Facebook, and especially with its founder Mark Zuckerberg, due to the lawsuit that saw them opposing precisely with regard to the authorship of the social network idea.
It was back then that, with the money collected from the lawsuit, the Winklevoss brothers began their journey in the crypto world, investing them in bitcoin.
In the Telegraph interview, the twins temporarily put aside their aversion towards Zuckerberg’s creation, stating that a Facebook stablecoin would be a “really positive” development for the crypto sector, even if they reiterated that, according to them, the innovation brought by cryptocurrencies is more important and disruptive than that brought by social networks.
This is because, according to Cameron, the use of cryptocurrency as a means of transferring value is more important than, for example, sharing photos.
Let’s remember that their exchange, Gemini, has also launched a stablecoin anchored to the US dollar some time ago: the Gemini Dollar (GUSD). So although they are actually competitors with the Facebook project, they admit that the more people who come across these technologies, the better, despite being actual competitors.
However, stablecoins are certainly not the important and disruptive innovation that the Winklevoss twins mentioned during the interview. These will only be the bridge that will allow many users to cross over to the other side of the ditch, given that there are still many who are suspicious of cryptocurrencies.
Hence stablecoins anchored to fiat currencies could act as a Trojan Horse to attract even the most sceptical and convince them to try using these new technologies.
Once they get across the ditch, many users could be like the Winklevoss twins themselves and become strong supporters of using real cryptocurrencies.