There is a clear market demand for stablecoins, otherwise they wouldn’t exist. Professor Eswar Prasad, writing in the MIT Technology Review on the future of money, said that “Bitcoin, the cryptocurrency that started it all, may not have much of a role to play in this monetary future” because stablecoins of one form or another might well be more desirable to the average person than volatile tokens for speculators. He also suggests that, rather than leading to a proliferation of public and private currencies that compete on a level playing field, the emergence of digital currency could make economic power more concentrated than ever. If major currencies such as the dollar, the euro and renminbi are available to citizens around the world, they might well displace the currencies of many other nations. Similarly, and in my view just as likely, the digital currencies issued by multi-national corporations might replace weak fiat currencies by exploiting their ecosystems.
Stablecoins are electronic money
Stablecoins are electronic money
Stablecoins are electronic money
There is a clear market demand for stablecoins, otherwise they wouldn’t exist. Professor Eswar Prasad, writing in the MIT Technology Review on the future of money, said that “Bitcoin, the cryptocurrency that started it all, may not have much of a role to play in this monetary future” because stablecoins of one form or another might well be more desirable to the average person than volatile tokens for speculators. He also suggests that, rather than leading to a proliferation of public and private currencies that compete on a level playing field, the emergence of digital currency could make economic power more concentrated than ever. If major currencies such as the dollar, the euro and renminbi are available to citizens around the world, they might well displace the currencies of many other nations. Similarly, and in my view just as likely, the digital currencies issued by multi-national corporations might replace weak fiat currencies by exploiting their ecosystems.