This is what we are missing out on. The world is moving forward with the help of Qedit.
Israel Pioneers Shekel-Backed Stablecoin with BILS Pilot Program | CoinMarketCap
By the time this community figures it out, it might just be too late. Stablecoins are for spending, ZEC is digital gold (for saving). The time for a pivot is now.
āThe BILS project leverages advanced privacy technologies, such as zero-knowledge proofs (ZKP), to ensure transaction confidentiality.ā 
Seeing this happening on Solana almost makes me cry.
Another reason to make this grant for QUEDIT happening ASAP. We need every help that we can get to make this a reality on our beloved Zcash Chain! We donāt have the time to move as slow as we did before.
WE NEED MORE DEVS!
Thanks for the supportive quote! 
This work with Solana is actually one of the reasons QEDIT is bullish on ZEC, ZSA + Stablecoins. It shows that the demand is definitely out there.
We know from experience that the engineering required is not easy at allā¦ And Zcash has a huge head-start, and already demonstrated a track-record of quality specifically for strong privacy infra using ZKP.
Weāre now planning talks with ZCG to figure out whatās the right timing for this effort, and work on a good balance for feature / budget / delivery time. From the discussion here, we already understand that QEDIT might need to pitch in to help make Zebra feature-full faster, in collaboration with ZF and ECC.
In the upcoming months we already have planned a testnet, preparing for security audits, the fee mechanism implementation and generally NU6 integration work.
Altogether thanks for the support! 
@_jon it would help us non technical people get
more comfortable with zcash if you could let us know if the zcash blockchain can have or has the throughput to process transactions at scale (eg TPS; and other things you believe are important). And if not how much work is needed to get it there. DM me as well if you want to keep it private.
great points from @Jgx7
i think everyone in the community would like to know where we stand and what needs to be done to get us there.
Zcash keeps making leaps in privacy technology. ZKPs being an example, Halo, and what will likely be ZSAs. In the past, none of that translated to helping Zcash, which in turn, should help the treasury that would allow for continued grant disbursements for continued advancement in privacy tech. QEDIT has been amazing; is there a way for Zcash to benefit from all these privacy advancements instead of being eternally generous? Seeing the project for the Shekel-Backed stablecoin be on Solana is a little jarring.
Agreed that ZEC needs to be seen as Digital Gold and Store of Value. The last 8 years make it difficult for anyone to see it that way. ZSAs would help push that forward, but at the same time BTC doesnāt have any highly adopted solutions on top of it.
Is ZEC the base of private infrastructure, is it a Store of Value, is it for day-to-day transactions? I think messaging needs to be clear so everyone knows what ZEC really is and what the direction of the project is. Lack of direction leads to negative outcomes that donāt need to be elaborated on.
Agreed to the maximum
Depends on network congestion! When Aztec launches, Zcash will probably cheaper to use. But that can change over the course of a period of time.
That project is a pilot on a permissioned, private deployment, so no mainnet for now. This is because of regulatory caution at this stage. For now TPS are not the main factor, and frankly not even the privacy aspects; main parameters are support from partners like Solana Foundation actively promoting stablecoins and Fireblocks who manage wallets for large institutions. Also, to get the complete picture, this project is in collaboration with Bits of Gold which is the largest crypto exchange there, and which I co-founded with my brother Youval, back in 2013.
Absolutely insane to even have a discussion on this right now.
The topic has been discussed before multiple times
The simple fact remains that the centralized stablecoins will NEVER deploy on zcash if every single one of their demands are not satisfied. There is no negotiation.
This is the USDC chain requirements document from circle:
Either we choose to fill the reqs 100% upfront, or we dont do this.
Otherwise we are dumping 215k worth of zec into the market for no reason, to a team that hasnt even shipped things into production yet.
Absolute insanity.
we spent 3m+ on duplicative single asset wallets . millions more on socials media and pet projects = zec dumpingā¦there is a lot of insanity in this ecosystem for sure. especially if we continue down this path
of zec is fiat for day to day spending. zec is digital gold structured for saving. itās not meant for 90% of the world population.
the largest use case globally is and will be stablecoins. they are the core use case for any global blockchain ecosystem. if we donāt have stablecoins, my view is zcash wonāt be able to get the scale required to have its own L1 and we will be forced to be an L2 on other chains.
Privacy lite helps average every day people even if itās not in line with your political agenda. these are the 90% of the world who have 0 savings and want privacey between point A and point B; but will accept compliance if itās required in a jurisdiction.
donāt we have a centralized system at zcash? to get funding everyone needs to go through the grant committee or through a highly political un-democratic consensus system; how is that not a centralized system?
āTo get fundingā¦ centralizedā¦ā
Letās be clear on exactly what youāre criticising. Even if the funding mechanism were a single individual, that would not make Zcash as a system centralised in the manner being talked about here.
The ability to buy, hold, and spend Zcash without going through a centralised exchange has nothing to do with the dev fund. Thatās a whole different argument and set of concerns. Iām not saying there is nothing to worry about there, but it would be a mistake to conflate them!
yes. letās be clear. iām criticizing someone uses a centralized decision making process to try and block bringing a privacy lite version of stablecoins to the zcash blockchain because they are worried about a custodian holding the collateral. For one custodians can be decentralized to some degree: both inside a country and then also globally. over time, i believe self custody will be available for the collateral at some point. and it would be if zec or other assets were used as the collateral. although i believe risk free assets are better- either can be used.
A privacy lite, regulatory compliant stablecoin is a good thing for people. and a coin that has real world collateral backing it is also a good thing. we have people who try to use centralization and privacy arguements to block zcash blockchain from improving. it seems a little hypocritical when the governance and grant making is centralized and the majority of the zec is transarent and not privacy. iām for decentralizing development by introducing a gas/fee structure and privacy by default; and adding more assets that bring utility to the zcash blockchain.
not to mention, this is on joshs roadmap already. so im arguing to prioritize it. from what i can gather. which may not be correct. the foundation is ready, qedit is ready. ecc has it in the roadmap. and zcg does seem to be wanting to fund it.
zcash community needs to understand what ZEC is. and itās not a currency; especially not a fiat replacement. This nails it.
will we be able to provide this features to ZSA?
has someone ever spoken to Circle, Tether or even MakerDAO?
If Zashi added stablecoin support and integrated Thorchain and Maya, we could theoretically go from shielded zec and swap into any stablecoin via Maya Protocol.
would circle or tether allow their coins to move to a shielded chain like Zcash?
i doubt itā¦
Personally I think Zcash should look at the Canto ecosystem. Parallelized EVM. Stable defi primitives that are backed by t-bills (true t-bills, not synthetic) with phenominal yield.
Cantoās mission is tightly aligned with Zcash. Neo-finance with no regulatory party. If someone wants to convert from Canto defi primitives to literally anything on ETH (USDC, USDT, etcā¦) it can be done since its a parallelized EVM.
It removes the need for regulatory compliance to be handled directly at the ZSA level (which is where the roadblock is).
The paradigm needs to shift, we need to stop thinking of USDC or USDT as the options for stables, requirements will never be satisfied on ZSAs. The goalpost will keep shifting.
Canto Canto Canto.
You can wish for it as much as possible, but centralized stable coins operators will never be able to use Zcash in its current state.
Now for ex. bridging DAI or USDe over to Zcash - that is another thing entirely.
To be honest Iām very much against this proposal. We shouldnāt pour tons of money into compliance tools that will make crypto more and more like the traditional banking sector. We donāt even know if centralized issuers will dare touch Zcash even with these tools. We should be promoting decentralized solutions. This money should instead go towards building a safe bridge to Ethereum so we can bridge DAI and Ethena dollars.
I think that thereās a lot of work to do in terms of UX and UI development before dealing with regulatory stuff
We should learn from mistakes and not repeat the NU5 approach where protocolās new features were inaccessible to end users for months.
if people canāt launch zPepe or a zMonero meme coin and see that in their wallets easily, then all of this would be mostly nonsensical.
It would be much more interesting to have zBTC, zETH and zSOL and then bridges to those chains.
If zUSD means that we have to invest a lot of time and money to please regulators to like a feature we Zcashers have not seen more than demos of, it seems backwards to me.