John McAfee: “stablecoins are just a temporary solution”

Well-known American entrepreneur and cryptocurrency enthusiast John McAfee believes that stablecoins are only an intermediate solution for centralized 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.

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 new altcoins corresponding to the various needs of people.

“Imagine that in a few years you can buy food, shoes and even a whole house for bitcoins or ethers. You will have the opportunity to buy everything you need for cryptocurrency, ”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 will reach $ 1 million.