Stablecoins’ place in traditional finance will follow a similar path to digital music, going from “outlaw file sharing” to digital streaming services like Spotify.
Silicon Valley incubator Y Combinator sees stablecoins, metaverse, and artificial intelligence technology as some of the most promising sectors for innovation.
In its annual “Requests for Startups” report shared on Feb. 15, Y Combinator said stablecoins have “immense” potential as a cost-effective cross-border payment option, while it also sees promise in augmented reality (AR) and virtual reality (VR) tech applied beyond gaming. Meanwhile, AI could customize enterprise software and smoothen “back office processes."
In a section on stablecoins, Y Combinator group partner Brad Flora said stablecoins look to “be a big part of the future of money” and likened the industry to that of digital music in the early 2000s.
