90% of cryptocurrencies are at risk, and why economists are shouting: Enough dollar dominance

Did you know that 90% of the global stablecoin market is only tied to the US dollar?

What will happen if the dollar shakes?

Boris Buhler (CEO of Concordium) says:

"Over-reliance on a single currency could destroy the entire market.. diversity in stablecoins is the solution"

Reliance on the dollar: Strength or weakness?

Stablecoins are the bridge between traditional finance and the digital world, but the dollar's dominance over them warns of systemic risks, according to experts like Chinese economist Zhang Ming.

What will happen if the dollar shakes?

Boris Buhler (CEO of Concordium) says:

"Over-reliance on a single currency could destroy the entire market.. diversity in stablecoins is the solution"

How is the world moving to face this?

- China is calling for the issuance of its own stablecoin to counter dollar dominance.

- The euro and Swiss franc are entering the competition with currencies like EURC and XCHF.

- Trust, not size, is the secret to the success of stablecoins (remember the collapse of UST which was valued at $18 billion).

Will stablecoins separate from dollar dominance in the future?

The answer depends on diversity, transparency, and compliance.

- Concordium integrates a smart identity layer with "zero-knowledge proofs" to achieve a balance between privacy and accountability.

- Most projects ignore compliance.