The Ethereum blockchain is fatally tied to fiat monetary systems. Stablecoins of massive liquidity traded within Ethereum are, theoretically, redeemable one for one for cash in the old, established monetary system. Decentralized finance, DeFi, rests heavily upon this assumption and is the primary use case for Ethereum. The issue then, is the power those stablecoin issuers have in protocol changes.
A Monetary Blockchain is Less
A Monetary Blockchain is Less
A Monetary Blockchain is Less
The Ethereum blockchain is fatally tied to fiat monetary systems. Stablecoins of massive liquidity traded within Ethereum are, theoretically, redeemable one for one for cash in the old, established monetary system. Decentralized finance, DeFi, rests heavily upon this assumption and is the primary use case for Ethereum. The issue then, is the power those stablecoin issuers have in protocol changes.