To facilitate this transition, Circle is creating what Allaire calls an “economic OS for the internet.”“Basically, there are new operating system paradigms that emerge all the time. The web is one, mobile is one, cloud is another, AI is another OS paradigm,” Allaire told WIRED’s editor at large, Steven Levy, onstage at the Big Interview event in San Francisco on Thursday. “And these blockchain networks are economic OS paradigms, at least what we're doing.”Circle is best known for USDC, the second-largest stablecoin by market capitalization, which is currently worth around $78 billion. USDC is backed by the US dollar, meaning if you own one USDC, you can exchange it for $1. But according to Allaire, stablecoins are just the beginning.