I am suggesting they add KYC
nostr:nprofile1qqs9336p4f3sctdrtft2wlqaq5upjz9azpgylhfd3dplwf005mfrr9spzamhxue69uhkummnw3ezuendwsh8w6t69e3xj7spz3mhxue69uhkummnw3ezummcw3ezuer9wct4lwjj How did you come to this conclusion?
"Today, stablecoin users don't need to provide ID. But you can expect the industry eventually to be folded into the financial surveillance state."
If it's on blockchain then nobody will need to provide id, just download a wallet and you good to receive.
If you need to verify id, then it's not on blokchain, hence it's not a stablecoin.
The way I see it is that stablecoin is addressed to those who are not convinced about Bitcoin, but appreciate freedom to transact. And when the time comes, stablecoins will provide easiest onramp to Bitcoin, much easier than legacy banking payment rails.
Discussion
understand, but how do you see it to be executed on technical level?
Stablecoin providers like Tether use payment rails (liquid, solana, ethereum and whatever else they use) that are permission less in terms of accesing the network and don't have built in authentication methods.
If you request a stablecoin directly from the issuer, then most likely KYC will be required. But once a stablecoin coin is in circulation, the wallet owners can't be forced to reveal their identity. Anybody can download wallet app and be free to send and receive stablecoins.
What am I missing?