This is the unfortunate reality. Most people think a currency must be backed by a government and can’t imagine an alternative. And of course, governments reinforce this idea through propaganda.
Discussion
A well managed stablecoin retains the perception & effectively the same monetary policy of govt currency, but potentially offers greater benefits. Being outside of the legacy banking system could prevent govt capital controls from being inescapable, causing govt to have to walk things back in order to save face.
