Will stablecoins render EU central banks obsolete?

Could central banks become obsolete? This is one of the questions being asked across Europe as digital payments take over from cash. Could a private platform issue a stablecoin that achieves mass adoption in everyday commerce? It may sound like science fiction but, as economic pressures mount across the countries of Europe, especially with high sovereign debt levels in leading EU countries and talk of systemic risks, the legitimacy of state currencies is weakening. And as we have often seen in times of crises, trust could shift rapidly from public money to private alternatives.

Raccontata daarabnews.com