《Ethereum Foundation Ecosystem Lead: Stablecoins Don't Have to Be Banks' Enemies, They Could Be Money Trees》(Author James Compiled by Chopper) Traveler's checks can be accepted at face value globally, not because the paper itself is special, but because American Express, Visa, and Thomas Cook built a clearing network that ensures merchants in any country can exchange checks for cash at face value; stablecoins are now in exactly the same situation. They can cross borders in seconds on public blockchains, but there is no universal mechanism that allows you to redeem them at face value through regulated financial institutions; if yields are permitted, the stablecoin market will experience explosive growth, and they will directly compete with deposits, money market funds, and government bonds for idle funds. Read the full article:
《Ethereum Foundation Ecosystem Lead: Stablecoins Don't Have to Be Banks' Enemies, They Could Be Money Trees》(Author James Compiled by Chopper) Traveler's checks can be accepted at face value globally, not because the paper itself is special, but because American Express, Visa, and Thomas Cook built a clearing network that ensures merchants in any country can exchange checks for cash at face value; stablecoins are now in exactly the same situation. They can cross borders in seconds on public blockchains, but there is no universal mechanism that allows you to redeem them at face value through regulated financial institutions; if yields are permitted, the stablecoin market will experience explosive growth, and they will directly compete with deposits, money market funds, and government bonds for idle funds. Read the full article: