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SHI Stablecoin Will Be Game-changer, While PayPal Stablecoin PYUSD Is Not: SHIB Team Member

Tue, 08/08/2023 - 15:40
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Yuri Molchan
Major member of Shiba Inu team speculates that SHI stablecoin, when launched, will be much more trusted that PayPal's PYUSD
SHI Stablecoin Will Be Game-changer, While PayPal Stablecoin PYUSD Is Not: SHIB Team Member
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The Discord and Telegram admin of the Shibarium channels, Shibarium1, has taken to Twitter to share their take that as soon as the Shiba Inu-based SHI stablecoin is rolled out, it will change the playing field for stablecoins, which PayPal is currently trying to enter with its PYUSD stablecoin.

Community slams PYUSD as heavily centralized

As the news spread about PayPal giant rolling out its native stablecoin, many crypto community members on Twitter started to share a screenshot that demonstrates that the code of this coin allows company engineers to freeze PayPal's clients' crypto balances and then wipe them at will.

IT engineer @0xCygaar has tweeted that PYUSD is written using a very old version of Solidity, and it allows the owner to increase the total supply of the stablecoin, aside from the two "opportunities" mentioned above.

Still, many in the community are welcoming this launch of PayPal stablecoin PYUSD since this marks a massive boost in the adoption of crypto.

Shibarium Beta Activity Halts, What's Happening?

What about SHI?

SHI is a stablecoin that the Shiba Inu team is currently working on that has not been released yet.

From time to time, some scam accounts on Twitter write that it has already been launched. On Sunday, lead developer Shytoshi Kusama commented on such a scam post about SHI, stating that the stablecoin has not been launched yet.

Unlike PayPal's centralized stablecoin, the Shiba Inu team is focused on decentralization and protection of digital identity. Therefore, its stablecoin SHI may have a chance of wider adoption.

As for PYUSD, which has been issued on Ethereum, prominent XRP-themed account @RipplePandaXRP tweeted that they expect PayPal to stop this project soon as Ethereum fees are far too high.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at