What techno-anarchists of the crypto world got totally wrong

Cryptocurrency's techno-anarchist forefathers felt they were inventing a new type of unregulated, decentralized money. They were completely incorrect. While Bitcoin and Ethereum have succeeded in producing a highly speculative alternative asset class that has grown in use and popularity, stablecoin, the less tumultuous corridor through which investors reach volatile digital tokens, is the invention that is actually destined to challenge fiat cash.

Tether and USD Coin, far from being a substitute for government-issued money, are tied to government-backed legal currency like the dollar. These tokens allow investors to trade in and out of their bitcoin assets without having to open a new account.