Well-known American entrepreneur and cryptocurrency enthusiast John McAfee believes that stablecoins are only an intermediate solution for decentralized exchanges.
McAfee mentioned the main problems associated with the conversion of fiat and cryptocurrencies on exchanges. According to him, stablecoins are not quite suitable for use on decentralized exchanges, given that such exchanges do not collect any information about users, including their names, addresses, insurance number, email, etc.
"What's the main issue with decentralized exchanges? It's how do you get your fiat currencies in and out? [...] very difficult, since no information is collected on a decentralized exchange, no name, no address, no social security number, no email, nothing,"he notes in the video.
Fiat currency and decentralized exchanges. Where are we headed? pic.twitter.com/0VBabB6eJP— John McAfee (@officialmcafee) October 20, 2019
However, McAfee is confident that government fiat currencies will gradually begin to lose relevance. He justifies his opinion by the fact that every day there are more and more altcoins corresponding to the various needs of people.
"Imagine a world six months from now, a year from now, two years from now, where fiat currency is diminishing in importance, you can only buy houses and cars and shoes with crypto, with Bitcoin and Monero and Ethereum and others [...] soon we'll have the ability to acquire everything that we need with crypto,"stated John McAfee.
The expert believes that soon, thanks to stablecoins, conversion to fiat currencies will lose all meaning.
This month, McAfee unveiled the new decentralized McAfee DEX platform based on the Ethereum blockchain. The exchange operates without restrictions on jurisdictions and does not require the passage of the KYC procedure. Earlier, McAfee launched the Magic cryptocurrency platform with the ability to trade altcoins from several exchanges on one control panel. In the summer, a cryptocurrency enthusiast said that at the end of 2020, Bitcoin would reach $ 1 million.
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