One US location just banned CBDCs, but its new state token is doing something even more surprising
One US location just banned CBDCs, but its new state token is doing something even more surprising
A US state has taken a surprising stance by banning Central Bank Digital Currencies (CBDCs) while simultaneously moving forward with its own state-backed digital token. The article discusses the dual nature of stablecoins, highlighting their utility as 'dollar rails' for blockchains and the inherent challenges in securing public trust in their pegging mechanism.
For years, stablecoins have been crypto’s most useful invention and its most awkward dinner guest. Useful because they turn blockchains into 24/7 dollar rails, and awkward because while the promise is simple, securing trust rarely is. A digital token worth exactly a dollar sounds reassuring to non-crypto folk right up until someone asks where the […]