The emergence of stablecoins and their current implementations share many similarities to the American free banking era. This was an era with economically inefficient money and payment systems, where banks issued private money that were fully redeemable in theory but not always in practice. As of today, parts of the monetary and payment systems can also be considered inefficient, and a digital currency such as a stablecoin could provide significant improvements in areas such as cross-border payments, financial inclusion, as well as contribute to a more robust monetary system.  This thesis aims to help contribute insights into how the future payment systems may look like, with a specific focus on stablecoins and central bank digital currencies (CBDCs). The emergence of the two technologies are closely interlinked, and are currently in an early state of coexistence. This qualitative study investigates the sentiment regarding the future development of stablecoins and their possible continued coexistence with CBDCs. Semi-structured interviews were held with participants from three categories of the Swedish corporate landscape; cryptocurrency innovators and investors, state representatives, and corporate representatives. The main conclusions were was that in the short term, regulations will be a key enabler for continued stablecoin development. There is currently a lack of clarity and guidelines which is making it hard for generally accepted stablecoins to be established. Furthermore, the general consensus is that stablecoins and central bank digital currencies will co-exist in the future monetary system in the long-term, where each technology will have different use cases. / Framväxten av stablecoins och dess nuvarande implementationer delar många likheter med den amerikanska ”free-banking” eran. Detta var en tidsepok med ekonomiskt ineffektiva pengar och betalsystem, där banker emitterade pengar som skulle vara fullt inlösningsbara teorin, men inte alltid i praktiken. Även idag kan delar av penga- och betalsystemen anses vara ineffektiva, och en digital valuta såsom en stablecoin skulle kunna bidra med betydande förbättringar inom områden såsom utrikesbetalningar, finansiell inkludering, samt bistå i utvecklingen av ett mer robust pengasystem. Denna uppsats ämnar bidra med insikter om hur framtidens betalsystem kan se ut, med ett specifikt fokus på stablecoins och centralbanksvalutor (eng. central bank digital currencies, CBDCs). Framväxten av de två teknologierna är nära relaterade, och för närvarande samexisterar dessa i ett tidigt stadie. Denna kvalitativa studie undersöker sentimentet kring den framtida utvecklingen av stablecoins och dess möjliga fortsatta samexistens med centralbanksvalutor. Semi-strukturerade intervjuer hölls med deltagare från tre kategorier av svenskt näringsliv: innovatörer och investerare inom kryptovalutor, företrädare för staten, samt bolagsrepresentanter. De huvudsakliga slutsatserna var att på kort sikt kommer regleringar vara viktiga för att möjliggöra fortsatt utveckling av stablecoins. I dagsläget saknas det klarhet och riktlinjer vilket gör det svårt för en generellt accepterad stablecoin att utvecklas. Vidare så är den generella uppfattningen att stablecoins och centralbanksvalutor kommer samexistera i framtidens betalsystem, då de båda teknikerna kommer ha olika användningsområden

Nongovernmental actors have long been involved in the funding of U.S. K-12 public schools. With recent cuts to state funding to public education, however, groups called school-supporting nonprofits (Nelson & Gazley, 2014) have taken on a much larger role in school funding. Nonacademic, volunteer, parent-led groups such as parent teacher associations (PTAs), parent teacher organizations (PTOs), and booster clubs, especially, have grown in number and in amount of revenues raised, and are funding core school needs and functions. This situation confuses obligations of public institutions, undermines equity, and complicates the role of educational leaders. This mixed-methods study explores the influence of school-supporting non-profit organizations (SSNPs), in the suburban districts in the Richmond, VA quad-county metropolitan area. The focus of the current study is on the intersection of student economic disadvantage and race/ethnicity with the presence and types of SSNPs, their volunteer capacity and activities, and their financial capacity and impact. This study further examines why and how SSNPs exist as they do and how educational and nonprofit leaders manage their roles. Results show meaningful differences between groups in almost every variable, showing socioeconomic and racial disparities exacerbated by parent-led SSNP organizations. SSNPs at the most affluent schools with the most White and Asian students justify their work by touting the benefits to SSNP members’ children, explaining that the raising of funds and providing of volunteer staffing is both a virtuous activity and needed for the schools they support to function. Educational leaders must share power with these groups. This phenomenon raises questions about the purpose of SSNPs as civic and nonprofit organizations, exacerbates already inequitable availability of educational opportunities and resources across schools, and threatens the public nature of public education. While many policy remedies for this problem exist, a priority is more public revenues and funding of public schools.