As an extreme skeptic of crypto in general, the uses for stablecoins seem obvious as long as they’re transparently backed or used only for short term transactions before going back into fiat.

Even just paying a foreign contractor is a pain in the ass sometimes so if a bunch of banks and financial service providers around the world manage to make international transfer easier via the coins, that’s great. Not everyone cares about the inconvenience of KYC or reversibility of transactions sent internationally. These usecases feel more like shortcutting the complexity of transactions across state lines rather than the regulations we’ve learned about the hard way in a hundred years. Obstacles rather than safeguards.

That's exactly the same take as mine.

As someone who actually worked on some crypto project (nanotimestamp) and also has got paid in crypto. I usually just convert it into stablecoins / gold coins for a short term (1 year max) where since I am still a minor, I don't have a bank account and so I mean, the end goal is to get my stablecoins out of the chain into real money not vice versa.

I had written something like this, just with a clickbaity title but its basically that I hate everything in crypto except stablecoins which I really like. Like there is paxgold which has gold and I genuinely like the fact that I think that we might be able to pay in gold or etc. stuff, I also like USDC too.

Here's my article: https://justforhn.mataroa.blog/blog/most-crypto-is-doomed-to...

What? It's not hard to transfer payments to any foreign country with a functioning banking system. The hard part is actually figuring out the legal rules around taxation and employment and contracts that are between two dissimilar legal systems.

This doesn't really help that.

KYC isn't an 'inconvenience' it's a legal requirement that you (or your employee) can go to jail over if you do not comply with.