https://www.bis.org/cpmi/publ/d187.htmThe report of Bank of International Settlements or BIS have found out some alarming negative impacts of the stable coin towards competition policy, financial stability, monetary policy and the international monetary system.
But this issues were not seen as a hindrance but a challenge to overcome thus a meeting with the stablecoin developers and the public sector authorities were called to tackle solutions to such challenges.
Somehow it is annoying to see that stablecoins will be the first to be mainstreamed rather than bitcoin. If they will be successful then bitcoin will be left behind and will only be viewed as a tradable cryptocurrency and can no longer be used as a means of payment due to the presence of stablecoins.
It makes more sense to see Stablecoins being adopted first way before Bitcoin ever will because Bitcoin is too volatile and your ordinary average Joe working class citizen wouldn't know what to do with cryptocurrency.
Fiat currency is based upon stability, if my grand mother has $5, by the time she gets to the supermarket, the $5 will still be $5, not $4.97. Stablecoins will thrive in mainstream society, look at what Facebook is doing with project Libra? They're already one foot in the Door!