Learning Times' publication article "Technical Principles and Trust Logic of Stable Coins"

The official account of the Learning Times of the Central Party School published an article "Technical Principles and Trust Logic of Stablecoins", which pointed out that in the context of the accelerated penetration of digital finance into the global trade system, cryptocurrencies represented by Bitcoin and Ethereum have attracted widespread attention, but due to their violent price fluctuations, it is difficult to assume the mainstream payment function. Stable coins represented by Tether (USDT) and USD stablecoins (USDC) have established an anchoring mechanism with fiat currencies, which not only retains the advantages of efficient circulation and low cost based on blockchain payments, but also avoids unfavorable factors such as the instability of traditional cryptocurrencies, thus becoming a hot spot for current digital financial innovation. Relevant bills and management regulations introduced by the United States, the European Union, and Hong Kong, China have laid the cornerstone of compliance for the development of stablecoins. Stablecoins are favored by global compliant investors. They are gradually integrated into the mainstream financial system and have a deep understanding of the technical principles and trust logic behind them. This is a necessary prerequisite for grasping future digital financial innovation opportunities and potential regulatory risks.