Companies and exchanges are jumping on the stablecoin bandwagon — but just how promising is this concept and doesn’t it go completely against everything Bitcoin stands for?
Dollar-Pegged Money is Nothing New
Disneyland’s first president, Jack Lindquist, introduced the in-house currency called Disney Dollars in 1987. These paper notes featured pictures of Mickey Mouse and other popular Disney characters. They were sold at the theme parks in denominations of $ 1, $ 5, $ 10, $ 20, and $ 50 — just like their USD counterparts.