Is there a POS stablecoin blockchain with smart contracts in the works? Why couldn't it be done? Because founders wouldn't be able to hold 80% of coins so they can cash out like Vitalik, CZ, or Justin Sun?
We can make trust-less stablecoins backed by crypto but we cant run a blockchain on a stablecoin. Its only stable if its backed or pegged to something and that we dont know how to do decentral.
Because every stablecoin is by definition centralized. It has an underlying bank account, which could at any moment be freezed or seized, all coins confiscated and all smart contracts voided (or some specific contracts voided). Not so with decentralized blockchains based on proof of work.