What can you do with a stablecoin like tether that is not possible with USD?
All of the use cases I read about seem to say “trade tether for Bitcoin” etc, but you can trade USD for bitcoin.
Disclosure: I don’t care much about stablecoins but I am working on regulatory compliance tech for decentralized currencies, and my instinct is that stablecoins are where all the business interest is.
This is not to say that the transition will be straightforward. There are still many issues around transaction reversibility (ACH is reversible for a short period of time, due to trust relationships between banks) and fraud and money-laundering: not to mention that stablecoin regulation is still a work in progress and funds aren't FDIC insured. But I expect that some of these issues will get solved, and the tech will gradually replace ACH etc.
I'm not sure how you're avoiding that, especially once the stable coins are regulated? You still have payment processors to pay, just with different names
You might be surprised to learn that a citizen from Myanmar does not have access to a local bank offering USD accounts, nor do they get offers in the mail from Amex or Citibank. Their sole USD option may be holding cash under their mattress.
With a USD stablecoin, this citizen is no longer subject arbitrary exchange rates, expensive banks and risky currency storage. They can save money independently of any government or financial institution.