It isn’t a good idea to fully back a stablecoin with a single fiat currency, It isn’t a good idea to fully back a stablecoin with a single fiat currency,
Ethereum needs better decentralized stablecoins: Vitalik Buterin
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It isn’t a good idea to fully back a stablecoin with a single fiat currency, because if that nation-state fails, so will the stablecoin, argues Ethereum co-founder Vitalik Buterin.
One of the inventors of Ethereum, Vitalik Buterin, argues that Ethereum needs better decentralized stablecoins to truly give people independence from the traditional financial system.
“We need better decentralized stablecoins,” Buterin said in a post to X on Sunday, in response to Gabriel Shapiro, a lawyer at crypto investment firm Delphi Labs, who said Ethereum is "tripling down on disrupting power to enable sovereign individuals.”
However, Buterin said for this to happen, decentralized stablecoins need to address three problems.
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