RE: The Future of Stable Coins
Blockchain can only be backed by one thing: trust.
Perhaps we can trust the ledger and the transactions tied to it, but what about that built on top of it, i.e. cryptocurrency?
Here is where people make the same mistake with crypto that they do with fiat currency: they overlook utility.
The challenge for UST was it was "backed", for the most part, by LUNA. What was the utility for either of these? The answer is none.
That is how you build the desire within people to hold and use the coins. Sadly, it is completely overlooked in the crypto world.
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