Something that is stable is not necessarily stable
What is stable is not necessarily stable, that is the reality of world conditions. It must be remembered and understood concretely and fundamentally. Try to remember the trajectory of the following paragraphs with the conditions that have occurred so far.
"The term "domino effect" refers to the potential for a financial crisis in one country or institution to spread and negatively impact others. In the context of European banking, a crisis in one country or bank could potentially lead to a ripple effect throughout the entire European banking system, due to interconnectedness and interdependence."
Haven't we forgotten how Luna's tragedy with the condition of her stable coin hit so hard that it fell over the condition of the coins made by them. And the incident almost repeated how the condition of the circle with a stable coin made by them USDC almost collapsed even though in the end it was able to recover again.
So the question is, what conditions are Stable coins really stable? Interestingly, fiat currency has long been used by the world community, can it be said that it is stable based on the condition of a currency that is called stable as a currency? It turns out that it doesn't guarantee that stable can be as stable as expected because of various problems, obstacles and also fraud or crimes that happen.
Cryptocurrency does consist of various forms, but it is clear and certain that according to the white paper that was born as the creation of the presence of an ever-expanding cryptocurrency, it is hoped that a coin will have an increasingly valuable value, not like a stable existing coin. Apart from that, it is also considered as a currency that can create individual financial independence.
Freedom as a basic word is clear and of course still misinterpreted, why? Because when that freedom is obtained, humans tend to forget about the main problems they have been through by taking steps to seek new happiness without realizing that the word freedom that was previously achieved is starting to be constrained again.
The beginning of money and financial issues, in the context of history, money was created for the basic needs of a recognized medium of exchange, not based on a systematic growth after the money became accepted by society. And the Bank was born in the end to take freedom from the context of currency as a medium of exchange into a variety of investment forms that take freedom from the financial problems of the individual humans themselves.
The modern era gave birth to various appearances of the characteristics of money, which eventually gave birth to a new alternative that could be accepted by society. But again, the success of the word freedom, even though it is still in the form of an alternative, is slowly eroding again in the context of freedom. Volatile is feared to be an unstable form of value, but the bigger problem turns out to be that in the context of a stable form of money, the problem is not the formation of the creation of crypto as a recognized alternative medium of exchange.
I totally agree with you. From financial issues to life, everything can fall apart in no time. We need to be prepared to create another alternative.