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They are the perfect application, the problem is that they are generally expensive to use (see ethereum fees). There are efforts to get smart contracts working

They are the perfect application, the problem is that they are generally expensive to use (see ethereum fees). There are efforts to get smart contracts working in Bitcoin, but we’re waiting for full implementation of taproot for most of that to be feasible. Stellar USDC is cheap to use, but Stellar seems pretty centralized to me, so there’s that issue. Another problem is that you need to convert USDC to USD, which is yet another step and also considered a trade so there’s more bookkeeping there.

tcgv 5y ago
Good point, ethereum fees are a deal breaker. At least with regards to the fees problem we now have side chains that make really cheap to send/receive stablecoins (USDC, USDT, DAI, etc). You can currently transact stablecoins on Polygon paying one tenth of a penny in fees [1], and there's more than US$ 1bi in stablecoin supply already being transacted there (US$ 700mi for USDC alone). [1] https://polygonscan.com/tx/0xc260342a31648108f88e3cb5afe740a4ca18b24aca941ced86e1e5a1fee338b4 https://polygonscan.com/tx/0xc260342a31648108f88e3cb5afe740a...