Despite being enforced on the Ethereum blockchain, Paypal's new USD stablecoin isn't decentralized. numerous internet druggies have examined the coin's smart contract law and discovered some concerning details, similar as PayPal's power to cancel deals, the capability to indurate stoner means, and the capability for the admin( i.e., PayPal themselves) to freely issue and burn coins. With two deals( first" snap," also" wipeFrozenAddress"), the new PayPal USD stablecoin's" assetprotection" part can fully wipe your balance. This is appertained to as a" centralization attack vector" in smart contract security.
What did you expect from them anyway? They are a completely centralized payment processor and aren't much different than a bank, can you expect a bank to create a cryptocurrency of its own and don't make it centralized and have no control over the funds of their users? That is not going to happen, and PayPal is no different, they can't create a cryptocurrency and let their users own it without them being able to do anything about the holdings of their users.
Those who were planning to use their cryptocurrency thinking that they would have complete privacy and safety when using it should recheck the facts and possibly change their decisions while they still can, but I believe those who use their services won't really care about this since it's nothing different than how they operate with fiat.