Over the years, Bitcoin has continually proven itself as a robust asset that can be transferred instantly for a low fee over the Lightning Network. Bitcoin also proved that we can have an independent monetary policy that can’t be manipulated by anyone : “Rules without rulers”.
Thanks to its proof of work mechanism, we now have a very strong & autonomous system that can’t be destroyed unless all countries decides to suppress electricity, computers or Internet.
Despite inflation, the U.S. dollar remains an attractive store of value and unit of account. Let’s face it, Bitcoin is an excellent store of value that provides unique properties (censorship resistant, scarcity, easy to move…) but going 100% into bitcoin is risky. It is less attractive than the dollar for businesses and individuals in many circumstances.
but here comes Taproot Assets, it’s a protocol that allows people to issue digital assets on the Bitcoin blockchain (like a stable coin or an NFT).
Concretely, what does this means ? anybody, by creating a simple Bitcoin transaction, can mint arbitrary assets on the Bitcoin blockchain. Those assets can be transferred with a classical Bitcoin transaction, or an off-chain transaction over the Lightning Network.
Here are some things you could do :
Banks are sometimes expensive and are not available to anyone. You could gather a group of businesses / peoples exchanging USD regularly. You lock all that money in a classical bank account, and you issue with Taproot Assets, the equivalent amount of BitcoinUSD (name it like you want). This community can now store, transfer and exchange money without using the banks !
A community could create its own currency. Managed directly by the peoples using it. This community could even start to issue bonds.
Commodities producer (oil, coal, gold…) coud create claims for their commodities.
A concert organizer could create tickets for a concert and sell them directly throw the lighting network.
Our vision is that Bitcoin (with Lighting network) is the most open, secure, and robust monetary infrastructure. With Taproot Assets, this infrastructure can become a global monetary network that allows anyone to receive, store and send any currency or asset.