Im planning a holiday from NZ to Aus november 24th onwards... So with this I can purchase lumens using my native currency (NZD) then exchange XLM for this stablecoin then change stablecoin for AUD essentially avoiding exchange rate fees and only having to pay for inital crypto fees and the minor lumen transaction fee? Correct or would it stay at stablecoin until someone provides an exchange from that end?
So basically I can travel to Australia, exchange my lumens for the Australian Dollar without an exchange rate fee and then use for services and products from retailers who accept this stablecoin. Can’t wait for that to be the case worldwide!
I am hopeful that quite soon, possibly by next Fall, that Stellar and/or Interstellar will make a presentation at the World Tourism Mart (WTM) conference in London and discuss the benefits of anchors and cryptos in the context of travel & tourism. As a multi-trillion dollar industry, with more than a billion international arrivals across the planet each year, getting Lumens in the hands of even 1/10th of 1 percent (1 million travelers) would be a great start. These individuals will see how much they save in terms of currency exchange risk mitigation and, in turn, groups like Tourism Australia will acknowledge that those additional “dollars” will be spent in the destination. And, when folks are done spending, they will simply roll their “stable coins” back into Lumens and get on a plane to their next destination - no need for cashing out at a currency exchange booth. I realize this brings in the relationship with KlickEx (no one talks about this much in the Sub anymore) and I am convinced tourism will be the place where mass adoption will start. It is such a simple use case, and an extremely powerful one!
I would not be surprised when the currency exchange bureau I work at goes out of business if XLMs or Stable Coins take off. For Christ's sake they are taking 33% off the top of all RUB (Ruble) conversions. It is coming. Maybe 15 years max before all of these usurers go out of business, but there will always be the uninformed and ignorant, and business travelers who don't care to get price-gouged.
"There are network effects here," Nestor said. "It took us almost a year to get our first two currency anchors on the network. But then each time we add another one, it makes it easier to add one more."
But the motivation to create these assets is also shifting, she said. "I think there was tension in the crypto marketplace, and that drove many of the earlier stablecoins. But we also see continued adoption and growth in the payments space."