Today I read an interesting article and want to share it with you, 🤔 and so the very idea of stablecoins is simple: to tie the value of a token to a fiat currency (for example, the dollar $USDC ), and the cryptocurrency market gets 'digital dollars' that can be used like regular paper dollars.
But with cheap and lightning-fast international transactions thanks to blockchain. 🤔 In practice, it turned out that regulators see stablecoins as a risk or threat to the stability of their currencies, criminals use them as a means of money laundering, and investors perceive them as the closest analogue to cash in the blockchain world. And it seems to me that 🫣🫣 in any case, the role of stablecoins in the financial system will only grow in the next five years. 😊 What do you think? 🤗🤗🤗
And now what should we expect until 2030? )
First, the governments of all countries will have more control 😒😒😒
Country leadership loves to control money, and stablecoins are no exception. For example, USDC and #Tether . At least one major stablecoin will go bankrupt.
Second, 🙄 stablecoins maintain their value through financial mechanisms that are often hidden from investors. Sometimes these mechanisms fail. An example is #TerraUSD . In 2022, the coin entered a 'death spiral' and destroyed $60 billion in capital. Even fully backed stablecoins can sometimes 'wobble': USDC fell to $0.88 during the Silicon Valley Bank crisis in 2023 but then recovered. They can freeze any wallet address in seconds.
Well, and three stablecoins will probably start taking 'bread' from #SWIFT after setting up the wallet in the blockchain, stablecoins allow for very fast and convenient transfers of money abroad, bypassing the delays and high fees of old systems. Traditional payment networks like SWIFT use a messaging system, and such transfers cost tens of dollars and take several days. 🤯🤯🤯🤯
Well, that's about it, I hope my article was interesting, I'm rushing to work, wishing everyone well 😘
