Jeremy Allaire, CEO of Circle (aka USDC) says stablecoins will soon have an "iPhone moment".

What he means is, sooner or later stablecoins will become a magnet for developers.

“We are not quite yet at the iPhone moment when developers everywhere realize the power and opportunity of programmable digital dollars on the internet in the same way they saw the unlock of programmable mobile devices. Soon,” Allaire said in a post.

“The highest utility form of money ever created,” he added.

At the time of writing, stablecoins have transactions volume that far surpass VISA and PayPal combined, which is certainly something.

But there's something someone said that worried me.

Sam Broner, one of a16z Crypto's major partners, said that "stablecoins are better because they encourage competition."

"Now anyone can program money," he concluded.

That's right.

Anyone, including, for example, Terra Luna's Do Kwon?

That's the problem. 'Anyone' can program money is a slipper slope.

I don't particularly trust governments and banks, but I trust random 'anyones' even less.