In many parts of the world there are finance related constraints that feed into economic difficulties which fuel global challenges such as illegal migrations and wars. Some of the difficulties include basic cross-country financial transactions, access to payment gateways, e-commerce, banking and fund raising. Cryptocurrency is seen as a promising avenue to empower such societies and eliminate some finance related constraints. Cryptocurrency volatility as well as speed remain a disincentive for utility and rapid mass adoption. It is at this point that stablecoins get into the picture.
Can they provide the much needed stability while also offering the benefits associated with cryptocurrency?
Can they eliminate the constraints associated with country specific currencies?
Can they improve economic activities for disadvantaged societies in the short-term?
While there are many exchanges with forex-styled trading, escrows and casino related projects, I find this particular project
https://crowdfundit.live/ which attempts to build a crowd funding platform integrating a cryptocurrency (tether USDT) interesting.
I have been wondering what other applications could be built on tether or other stablecoins to enable societies that may otherwise be excluded.
What are some of the ideas and what is your take on the potential of tether and other stable coins in this regard?