, Columnist
The Techno-Anarchists of Crypto Were Dead Wrong
Stablecoin may not be the unregulated form of money some digital-currency pioneers had hoped. But that’s why it’s here to stay.
One day, traditional payment apps will seem old school.
Photographer: Gilles Sabrie/BloombergThis article is for subscribers only.
The techno-anarchist pioneers of cryptocurrencies believed they were creating a new form of unregulated, decentralized money. They couldn’t have been more wrong.
While Bitcoin and Ethereum did succeed in spawning a highly speculative alternative asset class that has come to enjoy wider use and popularity, the innovation that’s really set to challenge fiat cash is stablecoin: the less turbulent corridor through which investors reach volatile digital tokens.