ownershipeconomy

Which one would you choose? 1. A USD checking account with 0.01% interest paid out annually and backed by an institution (“Government”) that provides insurance up to $250,000 in case something happens, but this same institution has over $20 trillion in debt. There is minor risk in regards to liquidation because the bank — in this case — is allowed to use customer deposits for investing purposes, which of course bears some level of risk, such as, in the extreme example of all customers liquidating their checking accounts at the same time. This currency is audited by the same institution (“Government”), but by a different branch. These reports are not published publicly. Or… 2. A USDC checking account with 8% interest paid out daily (compounding) and backed by a non-profit foundation with a public ledger to verify that each USDC in circulation is backed by a US Dollar (fiat) deposited into a trust, meaning, at any given time everyone holding USDC (which is pegged to the US Dollar 1:1), has the ability to liquidate their USDC holdings guaranteed. This currency is audited by a third-party accounting firm (Grant Thorton) and all reports are published publicly.