Stablecoins are a form of private money - that is, money issued by private entities. Modern examples of private monies include commercial bank deposits and money market fund (MMF) shares, but there have been other forms of private money issued throughout history. One of the most colorful time periods is the issuance of various paper currencies by private banks during the Free Banking Era in the United States.
This is really great. Clearly written and provides useful historical context without going overboard into detail.
This, is being so enlightening to me. Thank you. And your writing style is simple, impeccable.
Nice work. Great read.