They are necessary for crypto currencies mass adoption in economy and industries. Mass adoption needs stability, but current stablecoins have too many flaws.
ETH, BTC, LTC, etc are NOT stablecoins. Ethereum is developing it's own stablecoin - World Trade Francs (WTF)
Unfortunately, weve found that the existing stablecoins all have various flaws; Tether is unauditable, Nubits has already once collapsed in price, Seignorage Shares is after three years still just a whitepaper and MakerDAO is an inadequate joke because
. reasons.
This situation has prompted Ethereum ETH to develop and launch the World Trade Francs (WTF) which is a decentralized 4.0 stablecoin that is solely based on the next-generation blockchain technology. The stablecoin particularly is tailored to develop a free trade as well as an economic interaction system that will integrate the next-generation blockchain alongside the hypercube tangle technology.
https://blog.ethereum.org/2018/04/01/announcing-world-trade-francs-official-ethereum-stablecoin/