Who says that US$ #stablecoins are not going to make a difference for the U.S. Treasury because their current US$ 280 billion value is too small is missing a key point. How many US$ trillions is the #eurodollar market—10? 30? 50? 100?
Now, would you—say, a Latin American citizen who holds dollars in his (eurodollar) bank account—keep such dollars in the bank or in #USDT (#Tether) in your own wallet? Would you think that the dollars created out of nothing by the Latin American bank outside the supervision of the FED, are safer than USDT backed by #T-bills and #bitcoin? Would you trust the Latin American bank more than your own wallet?
Once you answer such simple questions, it becomes clear that the eurodollar market is the elephant in the room—one that will be drained by stablecoins. Some are starting to grasp stablecoins’ potential but still fail to mention the elephant in the room: the eurodollar market.Who says that US-denominated #stablecoins are not going to make a difference for the U.S. Treasury because their current US$ 280 billion value is too small is missing a key point? How many US$ trillions is the #eurodollar market—10? 30? 50? 100?
Now, would you—say, a Latin American citizen who holds dollars in his (eurodollar) bank account—keep such dollars at the bank or in #USDT (#Tether) in his own wallet? Would you think that the dollars created out of nothing by the Latin American bank outside the supervision of the FED, are safer than USDT backed by #T-bills and #bitcoin? Would he trust the Latin American bank more than his own wallet?
Once you answer such simple questions, it becomes clear that the eurodollar market is the elephant in the room—one that will be drained by stablecoins. Some are starting to grasp stablecoins’ potential but still fail to mention the elephant in the room: the eurodollar market.
https://www.zerohedge.com/crypto/will-growth-stablecoins-drain-bank-deposits
See below excerpts from my #bitcoindollar book on that topic. 
