Stablecoins have effectively existed since 1904 when Panama adopted the U.S. Dollar as its official currency. Since then, numerous other countries have "dollarized" to various extents - today the USD is the primary currency in 8 countries, and 21 widely accept it for day-to-day purchases. For the most part, dollarization has done its job: no "money printer go, brrr" (see articles by Harvard and The World Bank for more), but it can be a charged topic for some. In 2008 I was living in Ecuador (...

Stablecoins have effectively existed since 1904 when Panama adopted the U.S. Dollar as its official currency. Since then, numerous other countries have "dollarized" to various extents - today the USD is the primary currency in 8 countries, and 21 widely accept it for day-to-day purchases. For the most part, dollarization has done its job: no "money printer go, brrr" (see articles by Harvard and The World Bank for more), but it can be a charged topic for some. In 2008 I was living in Ecuador (...