Silicon Valley’s well-known incubator Y Combinator recently released its latest list of 20 “Requests for Startups” (RFS) on its website. RFS is a long-standing tradition implemented by Y Combinator, where the YC team periodically lists key areas for incubation.
The current RFS content covers fields such as machine learning, artificial intelligence, military defense, biotechnology, healthcare, and climate technology. Among these 20 requirements, only one is related to cryptocurrency, namely “Stablecoin Finance.” Y Combinator partner Brad Flora pointed out that while the practicality of blockchain technology is subject to much debate, the application value of stablecoins (such as cross-border payments and reduced transaction costs) is undoubtedly unquestionable.
YC has effectively incorporated stablecoins into its operations over the years, and the entry of payment giant PayPal into the stablecoin field is a prime example that confirms the value of stablecoins. However, despite the issuance of stablecoins worth $136 billion to date, “only about seven million people have used stablecoins, over 500 million people live in countries with inflation rates exceeding 30%, and US banks hold $17 trillion in customer deposits.” Brad Flora believes that these are all conditions for further growth in the stablecoin field.
However, the major stablecoin issuers can be counted on one hand, and the major liquidity providers can be counted on just a few fingers. Therefore, YC hopes to see more excellent teams emerge in this field. Brad Flora wrote,
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