Stablecoin and digital economy

[abhiseshakana]

Stable coin can be lubricant for economic engine but its existance alone can not be economic engine itself. It make transaction more effective but it can not create job opportunity, new technological industry, innovation and productivity automatically. Beside that not all country need local stablecoin, if they already has stable fiat with modern payment infrastructure and cheap cost border transfer, then incentive to have stablecoin will be relatively small. So as a tool which support productivity, innovation and human happiness. Stable coin can not be categorized as asset that create weslth

[Bitcoin_people]

People are currently paying more attention to digital currencies than local stablecoins. With technology, people are improving their quality of life and digital currencies. Although we heard Elon Musk say a few days ago that local currencies may not be used in a few decades. Although I think this is not happening very soon because local currencies cannot be easily made to disappear, rather they will remain but on a smaller scale. In most countries of the world, due to the advancement in technology, everything is being done online, due to which the digital economy is moving forward a lot. However, it is not the case that just launching a local stablecoin will make the digital economy stronger, but rather, it requires infrastructure-reliable technology. In any case, it is expected that local stablecoins can be a strong foundation in the future digital economy.

[WillyAp]

stablecoins fill in the gap left by the banking scene.
Banks went more restrictive, Stablecoins are easy to get, save to safe, a good storage but they are not crypto.
Stablecoins obey the rules of a master.

[MRY]

People are currently paying more attention to digital currencies than local stablecoins. With technology, people are improving their quality of life and digital currencies. Although we heard Elon Musk say a few days ago that local currencies may not be used in a few decades. Although I think this is not happening very soon because local currencies cannot be easily made to disappear, rather they will remain but on a smaller scale. In most countries of the world, due to the advancement in technology, everything is being done online, due to which the digital economy is moving forward a lot. However, it is not the case that just launching a local stablecoin will make the digital economy stronger, but rather, it requires infrastructure-reliable technology. In any case, it is expected that local stablecoins can be a strong foundation in the future digital economy.

Indeed, the transition towards the electronic transactions will require systemic resiliency that extends way beyond the simple implementation of a traditional value based coin. The economic independence of a territory is fully based on the effectiveness of networks, protection of data, and readiness of the communities. An aspect of physical payment instruments flexibility will be preserved, and local tokens will become a strategic addition in building the effectiveness of transactions within the contemporary system of the economic environment.

[Abiky]

I was find digital economy conversation very satisfying.
So according to this post https://x.com/cointelegraph/status/2082375816889970940?s=46 CZ of Binance believes that stablecoin can help improve countries digital economy.

Digital economy is the future, so many eras in human existence has passed and the country or regions that has found a way to be ahead in any era has been the most influential.

The other time Elon musk strongly believe that we will not need money in ten years from now, because Ai could cover our needs, he may be wrong but we can from it pick that the world economy will depend on its digital prowess.

What effect can having a local stablecoin on the countries digital economy.

I don't see how a stablecoin would improve a country's economy. It's just "digitized Fiat". Which means, it will have the same properties as ordinary Fiat currencies. Only that central banks and governments will have more control over the system. Don't listen to CZ. He's just a businessman looking what's best for his pocket. The man is more inclined to centralization than otherwise.

Stablecoins defeat the original purpose of crypto. Why wouldn: countries adopt Bitcoin instead? They will avoid many headaches associated with inflation. Stablecoins or CBDCs, nothing will be able to stop the revolution.

[davis196]

I was find digital economy conversation very satisfying.
So according to this post https://x.com/cointelegraph/status/2082375816889970940?s=46 CZ of Binance believes that stablecoin can help improve countries digital economy.

Digital economy is the future, so many eras in human existence has passed and the country or regions that has found a way to be ahead in any era has been the most influential.

The other time Elon musk strongly believe that we will not need money in ten years from now, because Ai could cover our needs, he may be wrong but we can from it pick that the world economy will depend on its digital prowess.

What effect can having a local stablecoin on the countries digital economy.

The whole obsession over the "digital economy" is starting to become boring. Every country must improve it's "brick and mortar" economy first, before it starts developing high tech industries. It looks absurd, if a country has a highly advanced IT sector, but at the same time, the highways and railroads are about the collapse and there's a higher level of unemployment among the not-so-educated people. The idea that stablecoins can "improve" an economy is ridiculous. The world uses USDT and USDC right now. Did they improve any economy around the world? Currencies are just a tool, no matter if we are talking about fiat, crypto or stablecoins. Currencies help in value redistribution, they don't create value out or thin air. Value is being created by human labor and ingenuity.

[DubemIfedigbo001]

I would not be surprised CZ said that because Binance holds majority of stable coins on its reserve. As i know from what already tweeted by cryptoquant if Binance holds around 65% of stable coin issued (USDC & USDT). So i guess he said that stable coin would improve countries because his business would be getting lots of benefit from it. 

How realistic does this sound to you that Binance holds majority of stable coins when they're not the issuers, I wouldn't believe they have more reserves than Tether(USDT) and circle(USDC). From records that backdates as far back as 2024, Tether holds a$113 billion in US treasuries both directly and indirectly as backup for it's USDT stable coins, which puts it ahead of any institution dealing with USDT and other stable coins.

As for what Elon is saying, it's a mere hype for his AI industry,  we're used to his bluffs already. There is no time people wouldn't need to work and make a living, people are not robots, they always need money to survive and continue to exist.

[Abiky]

The whole obsession over the "digital economy" is starting to become boring. Every country must improve it's "brick and mortar" economy first, before it starts developing high tech industries. It looks absurd, if a country has a highly advanced IT sector, but at the same time, the highways and railroads are about the collapse and there's a higher level of unemployment among the not-so-educated people. The idea that stablecoins can "improve" an economy is ridiculous. The world uses USDT and USDC right now. Did they improve any economy around the world? Currencies are just a tool, no matter if we are talking about fiat, crypto or stablecoins. Currencies help in value redistribution, they don't create value out or thin air. Value is being created by human labor and ingenuity.

This reminds me of the early days of crypto. Back then, there were many hopes and dreams about crypto replacing or improving the mainstream economy. But so far, nothing has materialized yet. In fact, it's worst because now banks and governments will launch their very own digital currencies. This means more surveillance, more control, and less privacy + freedom to all.

Crypto didn't improve the economy, neither CBDCs will. The economy will improve based on the central banks and the government's actions. Everything's been going downhill ever since COVID-19 took the world by storm, so our hopes of a full recovery are bleak. We owe it all to corrupt politicians and the Elite class (wealthy people).

[Solodoski]

The other time Elon musk strongly believe that we will not need money in ten years from now, because Ai could cover our needs, he may be wrong but we can from it pick that the world economy will depend on its digital prowess.

What effect can having a local stablecoin on the countries digital economy.

What will be the means for daily transactions if money is not needed? Money is needed to purchase AI because for such an advanced technology it won't come easy and cheap. Maybe only specific individuals in the upper class will have access to the technology at their home. I don't agree with Elon Musk, as he has said many things in the past that have inturn become a different reality.

[WillyAp]

Stablecoins defeat the original purpose of crypto. Why wouldn: countries adopt Bitcoin instead? They will avoid many headaches associated with inflation. Stablecoins or CBDCs, nothing will be able to stop the revolution.

Because a stablecoin is easier to get, easier to transfer, easier to convert.
Easiness is the sole common dominator, always has been always will be.