The Stablecoin Backed by Real Barrels of Oil
What if you could stash a barrel of oil in a digital bank account and drop it in your kid's Christmas stocking? That's the wild idea Wil Harris of Energy Substantiation is chasing, building the stablecoin of oil. He breaks down how WTI coins work, why nobody had ever banked a barrel before, and Chuck puts on his critical investor hat to try and blow the whole thing up.
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0:00 - The barrel of oil coin on Chuck's dresser
2:08 - How Wil ended up bridging crypto and oil
4:03 - What a stablecoin actually is, explained for mom
10:05 - The minus 37 dollar day, USO, and True Tracker
12:21 - Banking a barrel: minting, redeeming, the bank of oil
19:25 - Critical investor mode: what protects your money
24:08 - Credit reviews, unencumbered barrels, and ABLs
28:50 - The reverse Dutch auction and the trading platform
32:16 - A brand new form of capital for producers
36:06 - Crypto adoption, 700 million accounts, and the Yeezys story
38:34 - Selling the company, line fill, and credit over time
45:59 - Who they want to hear from and WTI as the world standard
48:34 - Still early days and how to reach them
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Click here to watch a video of this episode.
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Collide is the community where oil & gas professionals connect, share insights, and solve real-world problems together. No noise. No fluff. Just the discussions that move our industry forward.
Apply today at collide.io
0:00 - The barrel of oil coin on Chuck's dresser
2:08 - How Wil ended up bridging crypto and oil
4:03 - What a stablecoin actually is, explained for mom
10:05 - The minus 37 dollar day, USO, and True Tracker
12:21 - Banking a barrel: minting, redeeming, the bank of oil
19:25 - Critical investor mode: what protects your money
24:08 - Credit reviews, unencumbered barrels, and ABLs
28:50 - The reverse Dutch auction and the trading platform
32:16 - A brand new form of capital for producers
36:06 - Crypto adoption, 700 million accounts, and the Yeezys story
38:34 - Selling the company, line fill, and credit over time
45:59 - Who they want to hear from and WTI as the world standard
48:34 - Still early days and how to reach them
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