Stablecoin and the Civilian Incentive

People respond to the environment they’re in, not the environment policymakers wish existed. If local money collapses, a dollar-pegged instrument with decent liquidity becomes a default savings vehicle.

From WSJ:

“It’s how you pay your landscaper and how you pay for your haircut. You can use tether basically for anything,” said Di Bartolomeo, the co-founder of the crypto lender Ledn. “Stablecoin adoption has gone so far into Venezuela that even without having regulated venues where you can buy and sell them, people still choose to go for stablecoins as opposed to using the local banks.”