Unregulated stable coins have proven to be as stable as the titanic was unsinkable.
Number 1 is really a problem because of Number 2. Number 2 is a fancy way to describe a primary use case being money laundering. Of course though there are some instances where that’s helpful like backing a foreign government you agree with. Unfortunately, it also means countries like North Korea can use it to evade sanctions.
Blockchain is largely a solution in search of a problem with speculators throwing money into stuff they don’t understand.
1.) Speculative investment assets.
2.) Moving value outside of a financial system.
Unregulated stable coins have proven to be as stable as the titanic was unsinkable.
Number 1 is really a problem because of Number 2. Number 2 is a fancy way to describe a primary use case being money laundering. Of course though there are some instances where that’s helpful like backing a foreign government you agree with. Unfortunately, it also means countries like North Korea can use it to evade sanctions.
Blockchain is largely a solution in search of a problem with speculators throwing money into stuff they don’t understand.
I’m a reformed blockchain enthusiast.