Comment by atomical

> Commerce would continue, with state-backed currencies swapped for crypto alternatives that float freely on an open market.

I'm assuming this means a stable coin?

Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner.

Also, why is Facebook's new currency rumored to be backed by multiple currencies? That seems like it would add volatility instead of lessening it.