Mobick Dollar

Mar. 1, 2025 

James Rickards makes an interesting argument in his book The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis. He claims that traditional financial markets are fragile and that central bank policies are leading to economic collapse. He suggests that governments and elites are preparing for a financial reset, which could involve capital controls and restrictions on individual wealth. He predicts that systemic shocks and crises will push people into controlled financial systems, such as SDRs, gold-backed reserves, or government-issued digital currencies.

He's not wrong, but these gradual shocks will come like a wolf in sheep's clothing. The real tool for financial manipulation won't be SDRs or central bank digital currencies (CBDCs)—it will be dollar-based stablecoins, which allow Washington to control financial systems more effectively.

Stablecoins will serve as a tool for U.S. debt financing. As China stops buying U.S. Treasury bonds, Washington needs new buyers. The U.S. Congress is pushing for legislation that requires stablecoin issuers to back their assets with Treasury bonds. If issuers like Tether and Circle are forced to hold U.S. Treasuries as reserves, they essentially become new buyers of U.S. debt—just as China once was. This follows a historical pattern where the U.S. allows new financial structures (Eurodollars, petrodollars, offshore banking) to flourish when they reinforce the dollar’s global dominance. In this sense, dollar stablecoins are similar to the Eurodollar market, SDRs, and CBDCs. However, stablecoins are far more practical—people can store them on their phones and use them for everyday transactions.

Trump can’t openly promote a dollar-based CBDC because it would explicitly harm U.S. allies, but he can allow stablecoins to flourish, implicitly promoting dollarization.

Here’s a question I have as a non-U.S. citizen: If this implicit dollarization plays out, do banks outside the U.S. stand a chance?

First, their deposits will drain away. If people can store dollar stablecoins on their phones, why keep money in a local bank that offers a weaker currency? Starting with fragile economies like Argentina and Nigeria, stablecoins will become the preferred savings tool. Even relatively strong currencies like the yen or euro won’t be able to compete with the dollar. This will erode demand for local deposits, leaving banks with fewer funds to lend.

Second, remittance and foreign exchange markets will collapse. Stablecoins enable nearly free cross-border transactions, eliminating banks' profits from remittance and foreign exchange fees, cutting off a major revenue stream.

As you can see, non-U.S. banks and governments are in a difficult position. Of course, they’ll do everything they can to avoid collapse. Some may try to outlaw stablecoin usage to protect their banking systems, but enforcement is challenging—as seen in China, where crypto is officially banned but still widely used. Launching digital versions of local currencies won’t work either due to the dollar’s strong network effect. The only real strategy is to slow adoption by limiting cash withdrawals, enforcing strict KYC requirements for stablecoin transactions, or imposing heavy taxes on crypto.

Dollarization seems inevitable. If Washington doesn’t allow stablecoins to thrive, it risks the collapse of the dollar-based financial system, which would drag both the global economy and the U.S. economy into a downward spiral. Stablecoins are the easiest way to sustain dollarization, especially as China and other nations push for de-dollarization. The only alternative would be a massive new source of demand for U.S. Treasuries—but outside of crypto, that isn’t happening.

Non-U.S. banks have two choices: issue dollar stablecoins themselves or go under. Issuing stablecoins would help them stay relevant, but it would also make them even more dependent on the U.S. financial system. Their survival would hinge on regulatory approval from Washington. Still, that’s a better outcome than complete failure. If they resist stablecoins and try to protect their local currencies, they’ll lose deposits, lending power, and ultimately, relevance. People will naturally gravitate toward dollar stablecoins for their stability and convenience.

Are there any alternatives for non-U.S. banks to survive? One approach could be distributing free smartphones with pre-installed stablecoin wallets in emerging markets across Asia, South America, and Africa. By partnering with tech companies with vast distribution networks, banks could onboard millions of users instantly—no need for physical branches, just an app integrated into smartphones.

IT giants like Apple, Xiaomi, Huawei, or Samsung could also preinstall stablecoin wallets on their devices, transforming themselves into financial powerhouses. Companies like Apple Pay, WeChat Pay, AliPay, and Samsung Pay are already deeply embedded in payments. If they launched their own stablecoins, they could become borderless financial giants, bypassing both banks and traditional financial institutions. Instead of relying on local banks, people could store and use their money through smartphone-native wallets—whether it’s Apple USD, Samsung USD, or Xiaomi USD. This shift seems inevitable. It’s just a question of when, not if. Either way, non-U.S. banks will be outcompeted by stablecoin issuers like Tether, Circle, and JPMorgan.

The BTCMobick project team plans to launch a stablecoin on its blockchain network. Mobick will be airdropped every hour to users holding Mobick Dollar in their wallets. The team could either partner with an established company or launch on their own. The ideal scenario would be onboarding Samsung, giving Mobick instant global recognition while allowing Samsung to position itself as a major financial institution. Users would benefit from higher yields through hourly Mobick airdrops.

However, Samsung has never been a first mover—it has always been a fast follower. That makes me skeptical about its future. Meanwhile, Bank of America CEO Brian Moynihan has hinted at launching a stablecoin if regulators approve it. Is he talking about a year from now? Two years? No—he’ll act as soon as Congress legalizes it. And he’s not alone. Many banks are considering stablecoin issuance. Who knows? Sundar Pichai or Tim Cook might be thinking the same thing.

Since the window of opportunity is closing fast, Mobick must act now—whether Samsung joins or not.

The project team has a two-phase plan:

1. Find a legacy finance partner. The partner would issue stablecoins on the Mobick blockchain, and users would receive hourly airdrops—giving Mobick Dollar an edge over competitors. Just as Google became dominant by offering 1GB of free email storage, this initial advantage could compound over time.

2. Have a contingency plan. In case no suitable partner is found in time, Otaverse, the company behind Mobick, will launch a dollar stablecoin on a small scale to prove its business model. Once the revenue potential is clear, attracting partners will be easier. There is a chance that the stablecoin business might take Otaverse in an entirely different direction.

The stablecoin market is poised to grow 100x in the coming years, and Washington will have to make Bitcoin at least 10x more valuable to manage its growing debt burden. Need proof? The GENIUS Act is gaining bipartisan support, and the SEC has rescinded SAB 121.

This is one of those rare generational opportunities. Mobick is positioning itself to take advantage of it. What will the future look like when Mobick goes public? I can’t wait to find out.

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