Stablecoins for Skeptics

Stablecoins are programmable digital tokens pegged 1:1 to fiat currency (typically USD), offering fast, cheap global transfers without traditional banking intermediaries. Unlike volatile cryptocurrencies, they enable practical use cases like conditional payments, lending, and compliance through smart contracts. While they won't eliminate human involvement in finance, they represent a pragmatic bridge between crypto's technical advantages and real-world payment needs. The main risk is the Triffin Dilemma: maintaining sufficient dollar reserves as adoption scales globally.