Lyn Alden’s Discussion on Stablecoins
Recently, Lyn Alden, a highly regarded stock research analyst and investment strategist, discussed how stablecoins are being utilized and how they would be employed over the coming ten years to address real-world issues. In an interview with Anthony Pompliano, who offers stock research and investing strategies for clients, highlighted the important role stablecoins are now playing in the environment of digital currencies and its potential for future applications.
Alden observed that a lot of trading platforms, including both controlled exchanges and decentralized finance (DeFi) marketplaces, presently use stablecoins as a unit of account. She stated that, according to various sources, it is a digital representation of money. Dollars still exist. The genuine fiat-collateralized kind, not the algorithmic variety, is what she’s referring to. These are essentially bucks wrapped up in a more effective manner.
Will Stablecoins Become Helpful?
The financial expert also asserted that stablecoins have an impact by reducing the volatility of fiat currencies in specific nations and emerging areas. Stablecoins, according to her, are helpful in countries with depreciating currencies, like Argentina, and provide consumers a choice for intermediate-term savings. Alden informed the reporters that the stablecoins would become more helpful if the demand for US dollars increased internationally. She pointed out that despite the banking systems and accessibility provided by their governments, stablecoins offered a technological means for anyone to acquire dollars anywhere in the world.
She emphasized the Taro protocol by Lightning Labs, which enables cheap dollar transfers over the Bitcoin network, as a possible asset for stablecoins. Due to the fact that these initiatives are less about pure decentralization and more about how to provide people with a low-cost means of accessing that foreign central hub of dollars, she also believes that initiatives like Taro on Lighting, which has the potential to bring stablecoins over to Bitcoin, are cool.
Source: https://www.thecoinrepublic.com/2022/08/08/lyn-alden-a-research-analyst-extremely-bullish-on-stablecoin-applications/