In my last post, I wrote about the “wild weekend” that crypto experienced in October just before the clocks went back to GMT — a sharp and sudden drop in trading values for BTC and other cryptocurrencies that seemed also to signal that ‘Winter is Coming’! Since then, the situation hasn’t improved. At the time of writing, Bitcoin is hovering just below $90k, and market sentiment suggests further declines rather than recovery.
This reality has led many of us to question whether tokens or coins without any underlying value truly represent the future we once imagined.
Shifting Focus: Stablecoins and Real-World Assets
Over the past few weeks, my attention has shifted toward the stablecoin and real-world asset (RWA) space. In my view, this segment of blockchain technology is fundamentally different from the speculative world of crypto coins.
Fiat-backed stablecoins are gaining traction, with obvious use cases such as atomic cross-border payment rails. Meanwhile, RWA tokens are increasingly being used as a store of value, tracking traditional markets and asset classes that tend to be less volatile.
Guernsey’s Growing Interest
Guernsey’s evolving stance toward this space has sparked a wave of activity—meetings, dinners, and roundtable discussions focused on stablecoins and RWAs. These topics are now finding their way into broader business agendas across the island.
I was also pleased to attend the inaugural meeting of the Guernsey Blockchain Members Club (GMBC). The event brought together a diverse cross-section of the business community to discuss everything from the club’s founding principles to its potential role in shaping blockchain use cases for Guernsey’s benefit.
What’s Next?
I’ll share more details about the project I’m working on in a future post. The timing will likely coincide with the formal application for licensing to the GFSC.
The next phase of this project involves digital identity—a concept I explored back in 2021 when the world wasn’t quite ready for it. Today, with growing demand for atomic settlements, robust solutions for atomic KYC/AML are essential. After all, there’s little point in enabling instant programmable money if identity verification still takes days.
Watch this space for updates on all of the above. Exciting times ahead!
