[Blockchain in Plain Language] JD Stablecoin, risks and opportunities coexist! !

I am Fang Yuan, and today I want to discuss the new stablecoin with you.

On July 18, the Hong Kong Monetary Authority released a list of participants in the stablecoin sandbox. JD, Yuanbi, and Standard Chartered Bank became official participants.

First of all, the sandbox experiment is in its initial stage and will not raise funds from the public or any other related products, so you must be wary of any claims that there are insider channels to raise funds and get any returns.

Currently, the stablecoins on the market are mainly USDT and USDC. There is no problem with such collateralized 1:1 stablecoins. On the one hand, companies such as Tether anchor the credit endorsement of US dollar storage, and on the other hand, it is because stablecoins are an indispensable cornerstone of the crypto circle. The launch of JD Stablecoin also represents Hong Kong's attitude towards the in-depth development of the web3 field. To put it bluntly, it wants to share the cake.

Issuing stablecoins is basically a sure-win, without high material costs. It only requires the establishment of contract rules on the blockchain, the maintenance of the stablecoin price, and the anchoring of real-world assets to web3 through tokens, so as to realize the development of Hong Kong's financial infrastructure with virtual assets as the core.

Hong Kong's attitude is to hold cryptocurrencies firmly in its hands as financial tools, and cryptocurrencies must also be subject to legal supervision. This is very un-web3, but for now, it is basically the case. Tether can also mark black U, so it is difficult for web3 to be absolutely decentralized.

The risk of using new stablecoins is that Chinese people are not assured at the beginning, and it is easy to make a mess. After all, stablecoins, stablecoins, must be stable in price to be called stablecoins. In theory, it should be JD Stablecoin 1:1 anchored with Hong Kong dollars, and in fact, the situation of the previous euro stablecoin may also occur.

The opportunity for ordinary people is to pay more attention to the progress of the project. After the stablecoin is issued, more benchmark financial products will appear, and the information gap will determine whether you make money before others.