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Correct, this is fundamentally the oracle problem. There is no link between the blockchain and the real world which is why only money-like instruments have been
by arcticbull 1y ago
Correct, this is fundamentally the oracle problem. There is no link between the blockchain and the real world which is why only money-like instruments have been successful for whatever value of success this constitutes.
- chipsrafferty 1y agoIs there a link for Fiat?
- arcticbull 1y agoFirst of all, wut. Second, that's irrelevant because stable coins rely on fiat backing (ostensibly) so you're stacking a new problem on top of what you perceive to be a different problem. If you believed that to be a problem then stable coins give you that problem twice as hard. And a whole mess of new ones too, like zero recourse against the newly intermediated offshore issuers in low-or-zero regulation locales.