TechFlow News: On May 3, Robert Hackett, Special Projects Lead at a16z Crypto, wrote that the term “stablecoin” is gradually losing its relevance to the current era. Stablecoins originally emerged during periods of high volatility in crypto markets, hence their emphasis on “stability.” However, as technology advances, stability has evolved from a distinguishing feature into a foundational component of global financial infrastructure. The crypto industry’s focus has shifted from “Is it stable?” to “What else can we build?”—making stability a baseline requirement rather than an innovation in itself. Consequently, the label “stablecoin” functions more like a patch for an outdated problem than a definition for a new financial system. In the future, the concept of stablecoins may fade into broader terms such as “digital dollar” or “on-chain assets,” or even become fully embedded within the underlying financial system—much like how “electric light” gave way to the simpler, more fundamental term “light bulb.”
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