Nik Bhatia on Bitcoin and the Case for Using Stablecoins for Statecraft

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  Welcome to Macro Musings, where each week we pull back the curtain

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  and take a closer look at the most important macroeconomic issues of the past, present and future.

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  I am your host, David Beckworth, a Senior Research Fellow at the Mercatus Center at George Mason University,

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  and I'm glad you decided to join us.

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  Our guest today is Nick Batia.

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  Nick is the author of a new paper titled Stable Coins as Statecraft,

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  Reclaiming U.S. Financial Sovereignty in the Eurodollar Market.

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  It's an interesting paper that makes the case for stable coins as a role in U.S.

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  Monetary sovereignty and reclaiming the Eurodollar market abroad.

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  And Nick, welcome to the program.

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  Thanks, David.

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  Great to be here.

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  It's great to have you on now.

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  You are a visiting fellow at the Bitcoin Policy Institute.

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  You also are the founder of the Bitcoin layer.

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  You're also a professor, an adjunct professor at the University of Southern California Marshall School of Business.

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  And you've written this working paper for the Bitcoin Policy Institute.

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  And again, as I mentioned, this paper explains

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  how stablecoins can be used to reclaim some of the government control of the euro dollar market.

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  Maybe that's too strong of a term, but to bring them back into the regulatory perimeter of the US government.

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