Innovations in payment technology have made it easier and cheaper than ever to send money. However, all these innovations are built upon the existing financial market infrastructure. Stablecoins, being spawned from the crypto markets, are approaching this market from a completely different angle. A large part of the appeal of crypto and stablecoins is the fact that they are decentralized and censorship resistant.
Bitcoin’s original goal was to be a “peer-to-peer electronic cash system.” From a technical standpoint, it is a success. The blockchain network today enables millions of users to send the cryptocurrency anywhere in the world in about 10 minutes, with low transaction fees—and thousands of businesses around the world accept bitcoin as payment for goods and services.
MethodologyBetween March and April 2019, Greenwich Associates interviewed 107 executives active in the blockchain and financial technology space across North America, Europe, Asia Pacific, and Middle East & Africa. Seventy-one percent of respondents were actively involved in stablecoin initiatives.
