On a related note, why haven't stablecoin 'eurodollars' (1) (for lack of a better word) taken off yet? In theory because the dollar is already the world's reser

On a related note, why haven't stablecoin 'eurodollars' (1) (for lack of a better word) taken off yet? In theory because the dollar is already the world's reserve currency, and in enormous demand, it should be an easy transition to digital dollars outside the control of the US. I'm not sure people in developed countries understand how much demand there is for dollars in countries with unstable currencies. Why don't the citizens of Argentina, Nigeria, Pakistan etc. just pay each other for goods with digital dollars? I understand it's frequently illegal there, but ultimately it's not practical for the government of say Argentina to lock up all of their citizens that want to pay each other with dollars for groceries, gas, households goods, etc. Seems like you could have a smartphone payment system in dollars that evades local control? Worth noting that several countries have just adopted the US dollar as their official currency, including El Salvador and Panama 1. https://en.wikipedia.org/wiki/Eurodollar https://en.wikipedia.org/wiki/Eurodollar 'Eurodollars are U.S. dollars held in time deposit accounts in banks outside the United States, which thus are not subject to the legal jurisdiction of the U.S. Federal Reserve'