Gnosis

Defi

PayPal USD

Most people might not realize that the potential of crypto is now becoming true.PayPal introducing a stablecoin brings back an idea that excited Wall Street in 2016. It promised to make financial transactions faster and cheaper using a technology called blockchain.This idea lost attention during a time when crypto wasn&#39;t as popular, and people were more focused on funny coins and ways to make quick money.But things are changing now, even if Bitcoin&#39;s value isn&#39;t as high as before. The financial system is getting an upgrade that crypto promised for years. We&#39;re seeing changes from using crypto for everyday spending to having digital money.It&#39;s like giving the financial system a new and improved look!Here&#39;s something interesting: Gnosis made a special card, just like a Visa card, but it uses your own crypto money. They also made Gnosis Pay, which is like PayPal for crypto. This helps crypto work better with regular money systems.Stefan George, who helped create Gnosis, said it&#39;s like making crypto payments as easy as online transfers with PayPal.Another company, Monerium, made a kind of digital money called EURe. It&#39;s just like euros you use, but it&#39;s on a computer. They even got a special license to do this in Europe.This is a bit like using regular money from your bank, but it can move onto a computer, then back to the bank without you even noticing.Gisli Kristjansson, who helps run Monerium, explained that a lot of money can move around like water on a computer.Both Gnosis and Monerium are making it so people can use crypto without realizing it. You can still buy things with a card or send money to friends, just like you always did with regular banks.Now we can make something that feels exactly the same,&#34; George explained. &#34;Before, we couldn&#39;t really ask, &#39;Why should people use Web3?&#39; All we could say was, &#39;I wouldn&#39;t use Web3 because it&#39;s not easy to use.&#39;&#34;The changes happening in the world of crypto are kind of like how things changed with online banks like Revolut and N26.But George, who helps run Gnosis, says crypto is even more special.&#34;Because anyone can come up with new ideas, it&#39;s like we have a new kind of bank that others can also make better,&#34; he told Decrypt. &#34;They need to offer something much better than Revolut or N26.&#34;So, it&#39;s not just about making quick money with pictures online. Crypto is like a tool that any business can use to make their own things.Everyone&#39;s trying really hard to make things cheaper and get more people to use them.But there&#39;s a problem - the rules made by the government. They need to catch up to what&#39;s happening.Monerium&#39;s new digital money called euro stablecoin is a big deal.But before they could do this, they had to talk to the government for two years. They needed to explain how their idea fits the rules.This was a big step for Monerium, and it helps them be more like the regular money we all knowWe have two choices: we can stay something that only a few people use, or we can change how money and the Internet work,&#34; Kristjansson explained.The Gnosis team is also doing something important right now. But it&#39;s a bit tricky because different projects can follow different rules to keep people safe, according to the government.&#34;Working closely with the government is very important,&#34; said George. &#34;Then we can make the rules that the government wants.&#34;Here&#39;s an example of what they&#39;re doing: Imagine you have to keep telling your name and details every time you use a different money service. It&#39;s annoying, right? So, Gnosis made a way for people to tell their details just once, and it works with other services too.This idea is a partnership with another company called Fractal. And it&#39;s like sharing this information in a special way so it&#39;s safe. Another company called Out DID does a similar thing, but they also care a lot about privacy.Teaching the government about these new ideas is the most important job now, says George.&#34;Most of the time, the government wants to help people,&#34; he said. &#34;They want to keep people safe. But we need to help them understand how this works.

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