| > I didn't read anything about tm-guimaraes "expecting the whole world to agree on a stablecoin-based solution" and you didn't bother to quote him, if he did say it. In fact, multiple stable coins and quick arrangements between individual banks are a big part of the value provided by stable coins. Why would that go faster than agreeing on existing currencies? If you want to go from, say, EUR to USD, going through more currencies just adds overhead. And again, why do you expect quicker arrangements when stablecoins are involved (and all the other elements still are)? > two banks can agree and use a stable in no time at all If they can (meaning they're also legally allowed to) agree to that, then they can agree to using their main currencies as well. Let's not pretend that EUR -> EUR-based stable currency -> USD-based stable currency -> USD is somehow simpler than EUR -> USD. > the convenience and speed of stables is there for all to see Where can we all see that? Which product has stablecoins as part of their implementation instead of as a marketing point? I gave examples above that seem to do what you both seem to argue stablecoins are good for, namely transferring money independently of currencies. AFAICT Wise does not use stablecoins, and I'm pretty sure they would if it could make things more efficient to reduce their fees while still increasing their margins. The fact that they don't and are still in business years after stablecoins have been out (and again, legal stablecoins traded by known actors could have existed before proof of work was created anyway) indicates that it's not the competitive advantage you think it is. OP was talking about legal money and how banks could use stablecoins to improve their connectivity for legal money flows. Regulations are a given constraint for them, so the risk and lack of compliance you mention is actually a deal-breaker here. I also fail to understand this notion of "unstable coin" to refer to currencies "stable coins" are pegged to. |