Are stablecoins becoming a new form of savings in high-inflation countries?
Indeed, since stablecoins were released on the crypto market, stablecoins have become a new form of savings or hedge for many countries, especially countries affected by high inflation and weakening of local currencies, It is true that the country should and should run to stablecoins, otherwise the country's economy could be destroyed and fall apart in the economic sector in general.
In fact, stablecoins were created to stabilize the value of digital assets. When the dollar fluctuates in price at extreme levels, stablecoins are a solution to overcome this. When stablecoins work, they will certainly become a conversion bridge for the country to stabilize the economy andhigh inflation, will be a fiat link to crypto assets, so that governments can take several steps to determine their country's economy in trade, investment and so on.
Do stablecoins represent genuine competition for traditional banking and local currencies,
Of course it is certain that stablecoins become rivals and could represent a threat to traditional banking, even though stablecoins are pegged at 1:1/US Dollar, which makes competition i.e. cross transactions instantly, blockchain technology used by stablecoins, digital dollarization like today and also unlimited global liquidity, limited fiat/dollars. Overall global liquidity.
