It isn’t a good idea to fully back a stablecoin with a single fiat currency, because if that nation-state fails, so will the stablecoin, argues Ethereum co-founder Vitalik Buterin.
Vitalik Buterin highlights the systemic risk of single-fiat backing, suggesting that the fate of a stablecoin should not be inextricably linked to the economic stability of a single nation-state.