The Bank of England's recent operation is preparing to incorporate stablecoins into the security framework of traditional finance This is an innovation that aims to support digital payments We also want to prevent risks and stabilize public trust in currency That means everyone will save stablecoins in the future It may be as secure as depositing in a bank For example, if the stablecoin issuer fails, they can have priority in getting their money back There are also things like "deposit insurance" to provide a backup Specific rules will be established before the end of the year I feel like this is quite clever Leaving a way for innovation while holding down risks on the one hand This stablecoin was originally intended to replace some cash/bank card payments, but now we are adding bank level security to it For ordinary people, it is much more convenient to use it. In the future, using stablecoins to buy coffee and pay rent may be as common as using credit cards (of course, not in China at present) on the other hand This is also a case of 'setting rules first and then releasing' - there have been frequent incidents in the cryptocurrency industry where 'a certain coin was heavily damaged and users lost everything' Treating stablecoins like banks now is equivalent to filling in the pit in advance to prevent retail investors from being treated like "leeks" But there is also a problem that it is managed too much like a bank Stablecoins may lose their original 'flexibility' For example, stablecoins made by large institutions may not have as many fancy gameplay options But in exchange for 'stability', it can also be considered a trade-off