Circle CEO Jeremy Allaire recently expressed his optimism about the future development of stablecoins and cryptocurrencies. In a public speech on June 19, he predicted that stablecoins could account for 10% of the total monetary volume in the global economy in the next decade or so.

Stablecoins could revolutionize the global economy

Allaire believes that stablecoins, as the “killer application” in the cryptocurrency field, will play a key role in promoting global economic change. He noted that stablecoins have significant advantages in enhancing cross-border trade, reducing remittance costs, and providing financial services to the unbanked. He further predicted that stablecoins will gain legal “e-money” status in most major jurisdictions by the end of 2025.

Allaire observed that many large payment companies around the world have begun to actively explore and use stablecoin technology. In addition, governments are also actively investing in blockchain infrastructure and enacting laws to promote technological innovation.

Allaire proposed that shifting credit intermediation from the traditional fractional reserve lending model to on-chain credit markets using stablecoins could open up credit and debt markets to a wider audience, just as Amazon and AdWords did to commerce and advertising. He envisions blockchain technology supporting billions of users and applications, revolutionizing the face of finance, commerce, and governance.

Allaire believes that on-chain organizations will compete with traditional companies and political institutions will adopt blockchain technology for governance. He expects all of these changes to be possible within the next decade. $USDC

Allaire emphasized that although significant progress has been made, cryptocurrency adoption is still at a very early stage. He believes the rapid pace of technological advancement and growing social acceptance will be key factors driving significant change over the next decade.

The transformative potential of cryptocurrency

Allaire said he is optimistic about the potential and future growth of the cryptocurrency sector. He pointed out that although he has founded Circle for more than 11 years, he has never been as confident in the development of the industry as he is now. He believes that most people currently know very little about the development of the cryptocurrency sector, and this limited understanding actually indicates the industry's huge potential and future growth.

With years of experience observing the application of Internet technology, Allaire compared the development of open networks, protocols, and software with the current development trajectory of blockchain technology. He emphasized the transformative impact of Internet infrastructure on various industries and believed that these impacts were reflected in the encryption field.

Allaire believes that cryptocurrencies are on the verge of moving society and the economy forward in powerful new ways. He recalls the early days of Bitcoin and the initial skepticism surrounding cryptocurrencies, and how it has evolved from being considered a fringe or even illegal innovation to its current state of widespread acceptance and adoption. #Circle #JeremyAllaire #稳定币 #加密货币

Conclusion

Jeremy Allaire's predictions and insights provide an optimistic perspective on the future development of cryptocurrencies and stablecoins. As technology continues to advance and global acceptance increases, stablecoins are expected to play an increasingly important role in the future global economy.