Vitalik Buterin advocates for improved decentralized stablecoins, cautioning against backing solely with one fiat currency.
Ethereum co-founder Vitalik Buterin warns against fully backing a stablecoin with only one fiat currency due to the risk involved. According to Buterin, if the nation-state supporting the stablecoin were to collapse, the stablecoin would also fail. Diversifying the backing of stablecoins across multiple fiat currencies may help mitigate this risk.
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