Publicly traded cloud infrastructure agency Cloudflare—which powers a big chunk of web visitors—is launching a U.S. dollar-backed stablecoin, the NET Greenback, to assist propel the way forward for AI-driven finance on the web, the agency introduced on Thursday.
“For many years, the enterprise mannequin of the Web ran on advert platforms and financial institution transfers. The web’s subsequent enterprise mannequin will likely be powered by pay-per-use, fractional funds, and microtransactions—instruments that shift incentives towards authentic, artistic content material that really provides worth,” stated Cloudflare CEO and co-founder Matthew Prince in an announcement.
“By utilizing our world community,” he added, “we’re going to assist modernize the monetary rails wanted to maneuver cash on the velocity of the web, serving to to create a extra open and beneficial web for everybody.”
An FAQ on the agency’s NET Greenback webpage signifies that the stablecoin will likely be made accessible quickly, however didn’t tackle which blockchain it would stay on.
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