Lee Bratcher, the president and founder of the Texas Blockchain Council, said that stablecoins, mainly in US dollars and significant buyers of treasuries, help maintain the dollar as the world reserve currency and will impact finance greatly in the next decade. Bratcher was a guest on a recent episode of the Texas Talks Podcast.

“There are many hundreds of billions of dollars circulating in stablecoins already, and 99% of them are denominated in US dollars," said Bratcher on a recent edition of the Texas Talks Podcast. “The rest are gold and euros, so it's actually a very good thing for the US dollar to remain the world reserve currency. Stablecoins are a big buyer of treasuries; now, stablecoins buy more treasuries than the country of Saudi Arabia, making it the 15th largest buyer of treasuries in the world.”

“Former Speaker of the US Congress Paul Ryan actually wrote an op-ed recently about how stablecoins can prolong the dollar as the world reserve currency," said Bratcher. “If people think that crypto and blockchain are not going to have an impact on their financial life in the next ten years, they are mistaken. However, they may not need to necessarily understand how it works, just like I don't necessarily understand how TCP/IP protocols work when I'm sending packets of information over email.”

Bratcher is the President and Founder of the Texas Blockchain Council, an industry group with over 75 member companies. The council aims to establish Texas as a leading hub for Bitcoin, cryptocurrency, and blockchain technology innovation.

Texas Talks podcast is hosted by Brad Swail. The weekly show is focused on public policy in the state of Texas, with insights from the people and organizations that influence it.

The podcast is available on Simple Cast and YouTube.