Why Stablecoins Are Just a Better Version of the Dollars You Already Use

When I talk about blockchain, I break it into two things. It gives us more control and better access to things we already own, and it gives us access to things we never could have owned before. I want to focus on the first one, because it touches everybody. Start with stablecoins.

You already use digital dollars

People tell me all the time, I do not want a digital dollar, that makes no sense. Here is the thing: all of us already use digital dollars. How do you pay your bills? Your mortgage or your rent? Your credit card? How do you send someone money? It is all done digitally. There is close to $2 trillion in US currency circulating around the world, and only about 10% of it is physical. We already transact in digital dollars. That is basically all we do.

So what is a stablecoin, really

Now imagine being able to access all of your money at any time and move it instantly, with no limits. That is all a stablecoin really is. It is basically the same system we already use, except it puts the control back in your hands instead of the bank's.

The absurd part

Think about how backward the current setup is. How many times have you gone to Venmo someone and hit your limit? I can order something off Amazon and have it at my front door in an hour, but I have to wait 24 to 48 hours to get my own cash. It is absurd that you have to jump through hoops to access your own money. That is the problem stablecoins solve.