[searine]

Or you just peg USDC to the dollar so traditional monetary controls still apply. I don't know how exactly you'd do that but I'm sure you could figure out something clever.

The advantage here is triple-ledger system, not the mining/anonymity features of other crypto. Having a pseudo-dollar cryptocoin creates a digital cash that is inherently traceable and avoids all the nasty bits of international money changing. It's a governments wet dream.

[freeone3000]

Why peg it to the dollar? Most dollars aren't physical, so we could "simply" shift the dollar financial systems to this process.

[AnimalMuppet]

So far, the dollar has had a much more stable value than any cryptocurrency. We'd like to keep that feature.