Gu Yanxi: The Ecological Controversy of USD Stablecoins
Users who have experienced the era of the Internet and mobile Internet are very aware of the ecological disputes of applications. In the PC era, the ecological dispute was carried out between Windows and Apple IOS. In the era of mobile Internet, the ecology is carried out between the Android system and the Apple IOS system. The user groups of the two are completely different. Different versions of the same application need to be developed to run on different operating systems. In the era of encrypted digital finance, the same scenario will happen. The underlying distributed ledger technology used by each ecology determines the formation of various digital financial products and the transaction methods between them. It's just that the development of encrypted digital finance is still in a very early stage, and the status quo can still be considered to be in a chaotic state. But the emergence of different ecologies is sure to happen. The development of the digital dollar stable currency will definitely accelerate the formation of such an ecology.
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Not Just a Stablecoin
These ecosystems that first started with USD stablecoins will not only support USD-based stablecoins, but also support stablecoins based on other fiat currencies. For the operators of these ecosystems, only by expanding the market scope can they obtain greater room for business development. In order to achieve this goal, it is necessary to support stablecoins of other fiat currencies. Only in this way can more users be attracted to participate in this ecology, more businesses can be developed, and more profits can be obtained.
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not just the same type of users
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Not just one type of digital financial product
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not just a way to trade
In the ecology based on USD stable currency, there are not only direct transfer services between accounts based on USD, but also digital financial product transactions based on USD stable currency. And the transaction method will not be limited to one. Digital financial products such as stocks can continue to adopt a centralized matching transaction method, and then realize settlement through the bottom layer. Non-standard digital financial products can be traded directly between users. The bottom layer of distributed ledger technology guarantees the smooth completion of these transactions. Therefore, in such an ecology, there will be various trading methods.
In short, the future competition in the encrypted digital financial market is not only a competition between companies, but also a competition between ecosystems. These ecologies are built on different distributed ledger technologies. The US dollar stablecoin and its ecology are in a mutually reinforcing relationship. For individual companies, participating in building such an ecology from the beginning or joining the existing ecology in the market will therefore become a must-make choice, especially for companies involved in cross-border business.
