Digital Money's Trio: Stablecoins, Agents, and Wallets

The engine of technological change never stops. In the time I've been alive, I’ve seen clunky landline phones give way to the supercomputer in my pocket, cassette tapes give way to on-demand streaming, and shopping mall excursions disappear with near-instant doorstep deliveries. With time, life has seemingly moved to a state of being frictionless. Yet some parts of our world remain stubbornly stuck in the past. No, I am not referring to the Beatles and their classic 'Hey Jude', but rather to money movement. Not so much paying a friend back via Venmo or UPI for a coffee, but cross-border money movement; arguably one of the most critical functions for our ever-globalized world. With all the advances we've made, it only makes sense then that there has to be a better way. Enter: stablecoins. Stablecoins are 1:1 fiat-backed assets that live on a blockchain; they operate 24/7/365, globally, and payments are instantaneous. It is not simply digital fiat, but a new financial primitive for digit

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• Devan Patel