I started to ponder around the idea of a universally accepted currency all around the world. As volatile cryptocurrencies like Bitcoin and Ethereum proved that blockchain technology allows verification of transactions, ultimately prevents hacking of accounts and accessible to anyone who has internet connection, the problems attached with the “economic attribute” of it is still persists.
The market value of a crypto currency is the main issue developers and experts in the blockchain space. Though it enables people to exchange goods and services in borderless fashion, determining the value of the coins exchanged will be problematic since the parties can originate from two different countries that have different economies.
This then poses a threat on mass adoption of a stable coin. I believe that a non-asset backed & decentralized cryptocurrency will not survive the world where different economies rule.
A solution to the problem might be is to create only ONE economy for the stable coin and let the world adopt it. I believe we exist in a time of the world where significant changes will occcur and blockchain will provide the world a basis of unification of adoption. It will reshape industries or even create a one persisting economy. It may sound outrageous but I think that for the next generation of us as a species to thrive, we must act as one economy where there will be no inequality or racism, one government and harness the resources of the world as one. This will create adoption of new technologies like stable coins or even one unified basic income.
The next ten years will be very important and exciting because of blockchain technology and the possibility of a mass adopted stable coin.
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