CBDCs are 'anti-democratic' says Circle's Dante Disparte

Episode 72 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro, and Chief Strategy Officer and Head of Global Policy at Circle, Dante Disparte.

Listen below, and subscribe to The Scoop on AppleSpotifyGoogle PodcastsStitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected].



Circle's USDC stablecoin is the second largest by market capitalization, and has steadily grown in dominance over the last couple of years.

In this episode of The Scoop, Chief Strategy Officer and Head of Global Policy at Circle, Dante Disparte, joins host Frank Chaparro to share his take on what a responsible approach to stablecoin regulation might look like and why he believes central bank digital currencies are "anti-democratic."

According to Disparte, the separation between the central banks and citizens' pockets is important to maintain:

"The gap between the central bank, the banking system, your wallet and how you spend money is a powerful feature and not a bug."

Furthermore, Dante believes that central bank digital currencies ignore the fundamental peer-to-peer potential of digital assets:

"A central bank digital currency would be the equivalent of building a high speed train engine, but not caring about the rail network, nor the station stops. And the real powerful breakthrough of blockchain based finance is that the infrastructure has networked peer to peer station stops."

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

During this episode, Chaparro and Disparte also discuss:

  • The difference between 'risk' and 'uncertainty'
  • Stablecoin standards
  • Non-USD denominated stablecoins


This episode is brought to you by our sponsors Chainalysis & IWC Schaffhausen

About Chainalysis
Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

About IWC Schaffhausen
IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot’s Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.
Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].