Insiders call for strengthening the construction of independent public chains to address the challenges of stablecoin issuance.

According to reports, an insider stated during an interview related to stablecoins that our country currently does not have a globally influential public blockchain. Another insider suggested that the construction of a national-level backbone public blockchain should be led by central state-owned enterprises, while the construction of industry-level public blockchains could be open to market competition.

An insider stated: Public chains are the infrastructure for stablecoin issuance, which is of great significance and indispensable for us to build an autonomous, controllable, secure, and efficient financial infrastructure system in the digital financial era.

A person familiar with the policy stated: stablecoins must be issued on a public chain, and the current issue is that neither Hong Kong nor the mainland has a globally influential public chain. If we use a public chain from the United States, we may face political risks such as Sino-American confrontation in the future, which could lead to being 'choked off'.

Next, we need to strengthen our investment in public blockchains (i.e., public chains), ensuring self-control and building in a layered manner. For example, national-level backbone public chains should be led by central state-owned enterprises, while industry-level public chains can open up to market competition, and scenario-level public chains should be completely market-driven. Another insider suggested.