Can crypto become money? I'm thinking fundamentally that currencies are getting debased with inflation increasing.
Looks like stablecoins is the future of blockchain where eveyrone can pay with their stablecoin because lots of crypto features will run on the blockchain. In this blockchain native world, people are paying with stablecoins rather than fiat app equivalents.
Why will people choose to do this? because in blockchain world, more innovation happens faster and the consumer will gravitate towards these features. For example: buy coffee at your local restaurant and earn get more shares in that restaurant as a tokenized stock, automatically executed through smart contracts on blockchain.
Lots of these features cannot be done in the real world due to regulation / redtape + no automation with smart contracts.
So in this world, assuming it's true, will it be the death of all weak fiat money, because it's much easier to just swap out currencies for other currencies without government control of your bank account to control the money flows. Anyone can easily just swap out one currency for another currency.
Will stablecoin and blockchain growth cause the death of weak fiat? What will governments do?
byu/sudoming inCryptoMarkets
Posted by sudoming
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The play is to funnel all US debt into crypto and hit the big fat reset button for all so they can keep coming up w new schemes…