Very much agree! Great insight.
As always, you have to be looking at what the man behind the curtain is doing, rather than what they want you to believe.
I was initially skeptical of stable coins, as I didn’t trust the people managing them. As time goes on, I realise their potential more and more. What seemed to start as a way to avoid the banking on and off ramps (to exchanges) has morphed into an alternative, free access, fiat banking network.
On the journey to crypto everywhere, these stable coins offer an interim solution. They do lack transparency though and they seem rather tied to the private banking system. Perhaps that is the price to pay for what they offer and in the long term, fiat will become less relevant as crypto continues to blossom. After all, why limit ourselves to fiat and allow central bankers to control them? We can do better than that.