[justanotheratom]

I understand the hypothetical trend being mentioned, and I would even agree with it in absence of stablecoins. See, today, if China & Russia want to trade, they may trade in Ruble or Yuan. Ruble or Yuan don't have to be universally accepted for them to trade. But if I am transacting in stablecoin, I don't want to use anything that is not universally accepted from the get-go. Otherwise, I might as well use Ruble or Yuan. So, even if in theory the stablecoin could be backed by any currency, I am not going to use just any stablecoin, only the one most widely accepted.

In other words, I think Stablecoin is winner-take-all, and USD has already won.

[lxgr]

> I am not going to use just any stablecoin, only the one most widely accepted.

But why?

Due to the existence of decentralized exchanges, all stablecoins are effectively equally widely accepted. Some blockchains even make it fully transparent by handling foreign exchange in the background for every payment where it's required, and for the ones that don't, most common wallets provide a "swap" feature directly in their UI.

Given that, why would people not hold the one that preserves their purchasing power best and that they have most trust in?

[justanotheratom]

RE: why would people not hold the one that preserves their purchasing power best and that they have most trust in?

That is exactly what they are doing right now - USD.

But for arguments sake, what is the emerging alternative?