Categories
Negocios

Western Union replaces SWIFT with stablecoin

It is very cool to see how Western Union is looking to replace SWIFT inside its own network.

This is part of global trend in remittances, where WU (and many others) are using stablecoins for settlement between themselves and their global agent network.

USDPT (“US Dollar Payment Token”), their new dollar-backed stablecoin on Solana issued by Anchorage Digital went live last week in Philippines and Bolivia, with the rest of the network planned to roll out during the course of 2026.

Today, settlement between Western Union and its agents runs on correspondent banking rails. Those rails pause on weekends and holidays. USDPT settles in seconds, 24/7.

I see this as WU defending their moat: the agent network. The correspondent banking layer is not worth focusing on, it’s a commodity.

This is the best kind of boring for stablecoin adoption. A 175-year-old company quietly pulling its treasury operations on-chain because the rails are faster and cheaper. The consumer never has to know.

This is not unique to them. Across our remittance and payouts partner book at Transak, the same pattern repeats. On-chain settlement is moving from a competitive edge to a default expectation.

The question this opens up for the next 12 months: once stablecoin-native remittance players can plug into the same agent infrastructure on equal footing, does the agent network moat hold? Will people still need to go to physical locations to get cash?

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Categories
Negocios

boring is better

One of my favorite kinds of stablecoin news is the kind that doesn’t tell you it’s stablecoin news.

Meta started paying creators in Colombia and the Philippines in stablecoins (USDC) this week, in partnership with Bridge/Stripe, Solana and Polygon Labs (link in comments).

This is not coincidental, they are both markets with strong existing dollar demand: Colombia’s peso has been under pressure for two years, the Philippines is one of the largest remittance receivers in the world.

The press release barely mentions crypto. The creator dashboard probably mentions it even less. I was one the Payments Partnerships team at (the-company-formerly-known-as) Facebook during Libra.

New brand, new global money, congressional hearings, regulator pushback, years of fallout. This is a refreshing approach: USDC on Polygon, behind Stripe’s existing payout rails, framed to creators as “your money, faster.” Sitting on top of existing payment rails.

The most interesting stablecoin use cases were never going to be the ones with “stablecoin” in the headline. Nobody cares in the real world. They’re the ones where a creator in Manila gets paid Tuesday instead of next month and never thinks about it.

In financial services boring is better.

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Categories
Negocios

cross-border payments: a cost structure problem

Some people think cross border payments are a pricing problem but it’s actually a cost structure problem.

The goal of every company is to make money, grow revenue. You can do this via two ways: increase sales or reduce costs. Most teams focus on the former when the latter is where you can find real leverage.

For instance, any business moving money across borders has to deal with several factors that directly impact your unit economics:

– Fees across multiple intermediaries
– FX spreads that eat into margins
– Capital locked across corridors to manage liquidity
– Waiting days for settlement

Stablecoin rails directly address these by moving a few vectors:

– Settlement going from days to minutes
– Costs compress meaningfully
– Capital does not sit idle across markets

You can keep the product the same by changing the rails underneath. At Transak we work obsessively with teams that want to make this shift without rebuilding from scratch.

If you are exploring this as well, you can take a look here: https://lnkd.in/eUwC9EgE

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Categories
Negocios

stablecoins surpass bitcoin

New data from Bitso this week: digital dollars (USDC + USDT combined) just surpassed Bitcoin as the most-purchased crypto asset in Latin America. 40% versus 18%. Full report here.

In Argentina alone, USD-linked assets are 71% of purchases. This is monetary economics expressed through user behavior.

Bitso shows transaction peaks in the days right after monthly salary payments. People are converting pesos to stablecoins because holding pesos costs them. I grew up in Argentina, I saw the same instinct play out with physical dollars. The behavior didn’t change, just the rails.

The dollarization spectrum is widening, not converging: Argentina at 71%, Brazil at 34%, Colombia in the middle at 46%, Mexico carving its own profile around remittance corridors. Each country’s crypto data is now a real-time read on its own monetary conditions, which is very cool. Crypto adoption in LATAM isn’t tied to the cycle anymore.

For the next generation it’s a baseline financial behavior. In some places, crypto wallets are replacing the role of bank accounts entirely. It will be fascinating to see what happens to the next generations’ crypto adoption.

Categories
Ocio

on reading and catching up

I love the idea of knowledge as a stream you step into.

Reading, listening, or watching isn’t about catching up or exhausting tasks to be done, the current never stops. The flow of posts on social media, articles in the newspaper, books and white-papers and podcasts and videos and even AI responses to deep questions is endless. We shouldn’t strive to master it, our job is to dip into the stream, one sip (or gulp!) at a time.

Every time we take a drink, we choose where and how deeply to wade in. Some days we skim the surface, tasting many currents. Other days we get carried away, and end up far downstream.

What matters isn’t so much how much water we take in but how fully we absorb it. True understanding and change doesn’t come from volume, but from reflection. We need to let what we read or hear circulate through our own thinking, at our own pace and according to what is resonating with us in that particular moment.

The stream also changes with us. A book that once felt unbearably dense may reveal new depths years later, just as our interests and questions shift with time. This makes learning an ongoing dialogue, not a race. There is no finish line. Only a rhythm of approach, pause, and return.

When we accept that we’ll never drink it all, we’re freed from the anxiety of keeping up. The joy of learning lies in the moments of immersion, the brief connections between our curiosity and the river of thought flowing by.

Categories
Tech Vida

in defense of voice notes

The practice of communicating using voice notes – short-ish spurts of words spoken into a device – is far from universal.

In Latin America most people elect to speak into their phones over write a text message at least some of the time for content that undeniably does not warrant that amount of production.

Perhaps this is a product of the overwhelming use of Whatsapp as the messaging app of choice, which released the feature fairly early in Latin America, which has a huge installed base of Android phones. iMessage is just not going to work for most people.

Or perhaps there is something else, related to the strong social ties, a family-first culture that encourages putting energy into being with loved over being in the office.

* * *

I once heard a foreigner comment on how odd it was to see so many people walking down the streets of Buenos Aires speaking into their phones, alien behavior to citizens of most other parts of the world.

(My Indian-American friend says brown people everywhere do this, which I am sure is accurate.)

Their use is not for everyone. A recurring meme comments on how toxic they are, how people use them for short, unimportant messages that could have easily been typed, which is fair.

The joke goes that every message is prefaced with “Hi – send an audio note since it’s easier…” without needing to point out whom exactly it is easier for. I once got a one-second message whose entire content was the word “OK” from a friend I was picking up in my car. That clearly should have been a text.

That’s culture for you, people get used to doing things a certain way. Many times it’s easier to not look up from your phone, just hit that little microphone and ramble into the phone.

* * *

In defense of voice notes: they offer flexibility for the recipient. You do not have to listen on the spot like you would on a phone call. You can find a time and place of your choosing, one that is most convenient for you.

You can listen while doing chores or talking a walk, much like a podcast, dedicating only part of your brain to the content of the message. There is even the option to accelerate reproduction speed to 1.5x (or even 2x for the truly adventurous). Of course the cost of multi-tasking is very high, we are much less skilled at it that we’d like to think.

The other big advantage is that the recipient cannot interrupt. In a world where most people only listen so they get a chance to speak, this forces you to actually not interrupt and think about what the other person said before replying. At least with part of your attention, that is. This is an important muscle that deserves attention; in a world of non-stop stimulus when do we actually stop and give our undivided attention to what someone else is saying?

Counterpoint: This is all negated by the not-uncommon practice of replying with short spurts of text while still listening to the original message. Especially when the audio is over one minute, perhaps justified by the need to “not forget” what the sender is saying, it tempts the recipient to think about their response and what they want to say.

* * *

Audio messages will never stop having their place, at least until someone invents a way to text with your brain (they are working on it), given the convenience of avoiding the need for a synchronous live phone call, morphed in the 2020s into a never-ending stream of videoconferences, which at its core demands coordination between two parties and are therefore the pinnacle of interruption.

Async will always win.

Categories
Negocios

on decentralized decision-making

Reading through how a DAO – @LidoFinance in this case – makes decisions illustrates the importance of writing and communication for getting anything done in a decentralized environment.

If we move away from traditional sources of clout, i.e. hierarchy, pedigree, presentation and oratory, gravitas towards a deeper meritocracy then it follows that the amount of participants will both improve decision making while also skewing to new forms of building consensus.

There are tradeoffs to any kind of rule-by-majority but at least you can be confident that those who have the most skin-in-the-game to care will be involved and active.

Check it out here.

Originally tweeted by Andy Werner – awerner.eth (@awerner) on July 28, 2022.

Categories
Negocios

on recruiting in web3

There is a fundamental shift in how web3 organizations vs Web 2.0 companies verify identity vis a vis new contributors.

Would you rather try to figure out what someone can do via an interview process or actually see what a person has done in the past on their wallet?

Originally tweeted by Andy Werner – awerner.eth (@awerner) on July 16, 2022.

Categories
Negocios

On AI and human labor

Someone – perhaps it was Marc Andreessen, it sounds like something he would say – once said that there will be two kinds of people in the future, those who tell computers what to do and those who are told what to do by computers.

This is in the framework of software eating the world, which by 2022 we can confirm has already happened. Both intriguing and dangerous, what does this mean for our control of society?

Like that joke about how tech enthusiasts have internet-of-things in every device in their house while engineers and people who understand security have a printer from 2004 with a handgun next to it so they can shoot it if it acts up.

The place of artificial intelligence and machine learning in this narrative is evolving into a type of ubiquitous presence that cannot be ignored. In the startup world people don’t even want to hear that your company is powered by AI, they assume it is the case in the same way we have dropped the world “mobile” from any consumer internet offering.

Paying attention to new developments in the field therefore becomes a critical part of digital literacy. You need to really understand algorithms to know why it seems like social media marketing can read your mind; the same applies to generative technologies and certain kinds of media.

The astounding Dall-E 2 system released this week by OpenAI is a perfect example of how figurative art, gaming, advertising, design in general. Tools like it, when made widely available, will deeply impact entire job descriptions.

Automatization has been replacing human labor since the agricultural revolution. Change is frightening but unavoidable. Liberty from menial tasks will create opportunities that are worth embracing.

Categories
Negocios

On Big Tech Innovation and Investment

When you compare the way the biggest five technology firms behave and the way regulators publicly talk about their businesses there is a fundamental disconnect.

Microsoft, Apple, Alphabet, Meta and Amazon are making heavy investments – in increasingly overlaying sectors- that are on steeped in an understanding that they need to innovate to survive. They know their history (see: Fairchild, IBM, Kodak, Blockbuster, etc).

Fascinating piece in this weeks’ The Economist on how they are hiring, acquiring, taking minority positions and otherwise making big bets into fintech, crypto, cars, metaverse, healthcare, space and robotics and they all invest so much in AI it is not considered frontier tech anymore.

Categories
Vida

reseña: Why We Sleep

Creo que nunca dormí bien hasta pasados los 30 años.

Una combinación de malos hábitos, falta de información y rinitis alérgica atentó contra mi habilidad de conciliar el sueño. Tenía tantas ojeras que mi novia en ese momento me decía (cariñosamente) mapache.

Why We Sleep de Matthew Walker es un libro fascinante e importante. Es un poco ciencia, un poco anécdota y racconto de experimentos al mejor estilo Gladwell y otro tanto recomendaciones, diagnóstico y ayuda para lograr lo que prescribe: que todos prioricemos dormir entre 7 y 9 horas por día.

Nadie está exento, por más que convencido estés que podés vivir con menos. Estás pagando un precio carísimo que quizás no veas pero a la larga se vuelve irreversible.

No voy a intentar resumir todas las razones por la cuales es crítico dormir, sospecho que lo entendemos intuitivamente sin necesidad de mayor evidencia. Sólo agrego que tiene una carga cognitiva a largo plazo que no debemos pasar por alto.

Lo que me parece clave compartir son algunas recomendaciones básicas sobre cómo llegar a esa meta – no siempre es fácil y requiere compromiso y sacrificio.

  • La recomendación más importante de todos el libro es tener horarios para irse a dormir y levantarse, y cumplirlos todos los días, incluyendo los fines de semana. No sirve tener un déficit toda la semana y pagarlo durmiendo más horas el fin de semana.
    • Una de las cosas que explica el libro que me resultó personalmente más revelador es cómo se fija el ciclo circadiano y las etapas del sueño según la hora del día. El período de sueño profundo es al principio de la madrugada (pasando la medianoche) y el ciclo REM (cuando soñamos) viene en la segunda mitad. Desplazar nuestro descanso saltea etapas.
  • Tener un ritual de relajación antes de ir a dormir, excluyendo luces fuertes. Por ejemplo leer con luz tenue o escuchar música (hay miles de podcasts, audiolibros, apps de meditación y afines que pueden darte una mano con ésto).
  • Si te cuesta dormir evitá las siestas. Los power naps (menos de 20mins) tienen beneficios comprobados y pueden ayudar a cubrir un déficit pero sólo antes de las 3pm.
  • El ejercicio ayuda (y es muy sano) pero no demasiado cerca de la hora de ir a dormir.
  • Tu cuarto puede ayudarte a dormir si lo mantenés oscuro, fresco y libre de luz. La recomendación es que esté entre 15 y 20 grados centígrado. Sacar la pata por debajo de las sábanas ayuda a regular nuestra temperatura.
    • Un baño caliente antes de ir a dormir puede ayudar con ésto, al salir nuestra temperatura baja lo cuál ayuda a conciliar el sueño.
    • Personalmente me ayuda mucho evitar ruidos usando tapones o máquinas de ruido blanco (o ambas!).
  • Considerá la relación entre la luz y la melatonina. La luz fuerte evita que la generes, por eso hay que evitarla de noche. Si cuando te despertás te exponés a ella puede regularizarte.
  • El alcohol puede sedarte y dar la ilusión de estar dándote una mano pero en la práctica significa que tenés sueño revoltoso y poco reparador. Evitarlo. Comer antes de ir a dormir también es nocivo, idealmente no hay que comer nada hasta 2-3 horas de acostarse.
    • Relacionado: tampoco hay que tomar demasiado líquido antes de ir a dormir, especialmente si sos mayor y tenés la vejiga menos tolerante; las ganas de hacer pis pueden despertarte más de una vez
  • Si no te podés dormir no te quedes en la cama, levantate y hacé otra cosa (relajante, sin luz fuerte) hasta que te de sueño. Eso a la larga también eliminará la ansiedad y presión que sentís por irte a dormir.

Hay mucho más detalle acá y acá.

Por último compartir que Walker menciona un par de modos en que la tecnología nos puede ayudar para dormir mejor:

Wearables que monitoreen nuestro sueño y nos ayuden a entender cómo dormimos en función de los cambios que vayamos introduciendo en nuestras vidas: hace meses que tengo un anillo Oura y estoy fascinado.

Tener un análisis preciso del impacto de cada cambio de comportamiento sirve para ir lentamente mejorando cada hábito con mayor visibilidad. Sólo comparar como nos sentimos el día siguiente no es tan valioso.

Apps que nos ayuden a moderar el jetlag usando melatonina y luz: hay muchas pero me gusta Timeshifter.

Tomar conciencia de cómo nos sentimos cuando dormimos bien (y cuando no lo logramos) es algo que puede ser una motivación fortísima para tomar a pecho las recomendaciones y cambiar nuestras vidas.

Desde ahí el próximo paso es eliminar el estigma social que asocia dormir con pereza y trabajar largas horas con compromiso.