Omid Malekan (Columbia) on Trust & Finance
Galaxy Brains
Stable Coins Are the Killer App of Blockchain
With stable coins, 50% of the balance sheet is visible on chain. That's some inherent transparency there. They're far more efficient in ways that Venmo are not programmable. You can do atomic swaps with them. And to the extent that almost all the stable coins are dollar stable coins, they also create demand for US treasuries from places where they didn't exist before. I think more people need to educate people in Congress that this is potentially a trillion dollar source of demand for treasuries that wouldn't exist otherwise.
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