Stabelcoins are\will be nothing more than glorified digital dollars\CBDCs, of which there are many already, that will proliferate USDs 'exorbitant privilege'.
The only real revolution in/for/from 'crypto' is BTCs double spend PoW solution/it's ability to be defi p2p cash for 15+ years and running.
I think this is sort of right - I do think the fact that they're ERC-20s makes them the "trojan horse" for the broader ecosystem.
Suddenly DeFi is interoperable with "more real" money, suddenly BTC is usable as permissionless collateral for USD-denominated loans (see Morpho), etc.
Stabelcoins are\will be nothing more than glorified digital dollars\CBDCs, of which there are many already, that will proliferate USDs 'exorbitant privilege'.
The only real revolution in/for/from 'crypto' is BTCs double spend PoW solution/it's ability to be defi p2p cash for 15+ years and running.
I think this is sort of right - I do think the fact that they're ERC-20s makes them the "trojan horse" for the broader ecosystem.
Suddenly DeFi is interoperable with "more real" money, suddenly BTC is usable as permissionless collateral for USD-denominated loans (see Morpho), etc.
Indeed, a strange forward-thinking reversion back to a hard money standard to have BTC backed anything.
Whatever $€£¥₹₽^x to BTC bridge exists, I'm all for it.