Dan Shin: Terra – The Stable Currency Tackling the Ecommerce Payments Market

Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies

This week we're joined by Daniel Shin. He is the Co-Founder of Terra Money and previous CEO and Co-Founder of TMON, one of Korea's largest players e-commerce platforms. Today he talks about his success in that area and how that drove him to enter the cryptocurrency and blockchain space with this new project.

Daniel was lead to blockchain when looking for a solution to reduce transaction fees paid by online merchants. Not satisfied with just using an existing stable coin, he set about to make his own, which is how Terra was born.

Topics covered in this episode:

• Daniel's background with TMON and his need to explore new transaction cost-cutting ideas
• How Daniel discovered that cryptocurrencies may help reduce intermediaries in the payment space
• Terra's impressive partnerships with some of Korea's largest e-commerce players
• The stability mechanism and the role of the Luna token
• The role of miners in Terra and the currency's seigniorage model
• Comparisons to other stablecoins like Maker DAI and Libra
• The contingency plans in the event of a catastrophic plummet in demand
• How Cosmos formed the basis on which Terra was built
• Terra's business model and product roadmap

Episode links:

• Terra on GitHub
• Terra white paper
• Introducing the new Terra Protocol
• Use Cases for Decentralized Money (Stablecoin)
• Scaling Seigniorage
• Terra Research Forum
• Terra Twitter
• TMON

Sponsors:

• Cosmos: Join the most interoperable ecosystem of connected blockchains - http://cosmos.network/epicenter

This episode is hosted by Sebastien Couture & Friederike Ernst. Show notes and listening options: epicenter.tv/301