Is it possible that if cryptocurrency gets accepted all over the country, tether or any other stable coin will start creating stable coin for all the currency available in the world? I think they will go for that and create money out of thin air. What do you think? Will tether do that ever in the future once crypto goes more mainstream? Or govt themselves will create their own currency at the end?
PS- Self-moderated thread to prevent spam.
PS- Self-moderated thread to prevent spam.
As you already know, stable coins are basically based on reserving real money. At least that's what it should be. This way 1 stable coin = 1 $ (or a different coin). But not every stable coin works this way.
For example, DAI is a stable coin, but DAI is not equal to $ 1 by any mechanism. The market itself is expected to stabilize.
This way, I don't think there is a need to issue 1 stable coin for each currency. Each country will find its value against the USD in its own dynamics. However, if desired, 1 token can be generated for each currency. At Waves, there was a work in this direction for a while.
