Coinbase is launching support for the USDC stablecoin

Re:Coinbase is launching support for the USDC stablecoin by lacker on Tuesday October 23, 2018 @01:33PM (#18285488)

According to USDC's documentation, accounts can also be frozen by a centralized authority.

USDC tokens are ERC-20 compatible and can be used with any ERC-20 compatible digital wallet. However, a global blacklist is maintained by CENTRE for USDC, which prevents tokens from being sent into or from blacklisted addresses. Reasons for blacklisting could include known fraudulent or illegal activity, or a legal order or process. Reserves associated with USDC balances held on blacklisted addresses may be wholly and permanently unrecoverable.

https://support.usdc.circle.com/hc/en-us/articles/3600160603...

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Re:Coinbase is launching support for the USDC stablecoin by stilley2 on Tuesday October 23, 2018 @03:42PM (#18286731)

Ah interesting. While that's a bit disconcerting, it does offer some advantages. You get the flexibility of an ERC20 token, but the (potential) benefit of the consortium being able to give you back tokens that get stolen (blacklist theif's account, issue you new coins). Might be a good middle ground between the wild west/code is law state of crypto currency and the protections of traditional banking.

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