Adaptation of stablecoins as the reserve currency

Abstract

The article discusses the weaknesses of fiat reserve currencies and proposes modern Distributed Ledger Technologies as a way to lower transaction costs and promote digital payments for the public. Specifically, we concentrate on stablecoins, a particular category of cryptocurrencies, that are designed to maintain stability and to be used as a medium of exchange and store of value. The results allow concluding that tokens backed by commodities may be implemented in payments globally with minimum cost and processing time. Hence, it is a revolutionary solution to the existing international monetary issues.