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Decentralised stablecoins are impossible

Ben Charoenwong and Jonathan Reiter
Ben Charoenwong and Jonathan Reiter  • 4 min read
Decentralised stablecoins are impossible
We cannot have a decentralised stablecoin with a target fiat price, and we cannot have a capital-efficient stablecoin at all. / Photo: Piotr Cichosz of Unsplash
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