德國人：美國和其他超級大國正處於財務發展的邊緣

美國和其他超級大國正處於金融發展的邊緣。唐納德·特朗普（Donald Trump）總統最近的行政命令建立了戰略性比特幣儲備（SBR）和美國數字資產庫存（DAS）

The United States and other superpowers are on the brink of a financial evolution. With President Donald Trump’s recent executive order establishing a Strategic Bitcoin Reserve (SBR) and a US Digital Asset Stockpile (DAS), the conversation around digital assets in government reserves is gaining momentum.

美國和其他超級大國正處於金融發展的邊緣。隨著唐納德·特朗普（Donald Trump）總統最近的行政命令建立了戰略性比特幣儲備（SBR）和美國數字資產庫存（DAS），政府儲備中圍繞數字資產的對話正在增長。

Czechia has also announced plans for its own sovereign digital asset reserve. While Bitcoin (BTC) and select altcoins are being considered, the discussion remains incomplete without including decentralized physical infrastructure network (DePIN) tokens in this initiative.

捷賽還宣布了自己的主權數字資產儲備計劃。儘管正在考慮比特幣（BTC）和選擇的山寨幣，但討論仍然不完整，而沒有將分散的物理基礎設施網絡（DEPIN）代幣納入本計劃。

DePIN represents a new paradigm in infrastructure development, where communities, not corporations, build and operate essential networks like telecommunications that self-govern and distribute rewards to their individual contributors. If it were to include DePIN tokens in its DAS, the US could use blockchain technology to create a self-sustaining infrastructure economy that strengthens technological leadership.

Depin代表了基礎設施開發的新範式，社區而不是公司建立和運營基本網絡，例如自治和分配給他們個人貢獻者的電信和分配獎勵。如果要在其DAS中包括Depin代幣，美國可以使用區塊鏈技術來創造自我維持的基礎設施經濟，從而增強技術領導力。

It would also encourage DePIN projects to build and scale physical infrastructure (such as WiFi, environmental monitoring and transportation) for US citizens by sharing bandwidth from their everyday devices. This eliminates the need for companies and governments to incur heavy capital expenditures.

這也將鼓勵迪克斯項目通過從日常設備中共享帶寬來建立和擴展美國公民的物理基礎設施（例如WiFi，環境監測和運輸）。這消除了公司和政府招致大量資本支出的需求。

Moreover, if proven successful in the US, it would set an example for other countries to set up their own sovereign crypto reserves for the benefit of their own citizens. A supranational network of DePIN token reserves would also potentially unite different types of infrastructure and grids in other countries, reducing the cost and friction between them.

此外，如果在美國被證明是成功的，它將為其他國家建立自己的主權加密儲備，以使自己的公民受益。在其他國家 /地區，超國家網絡的網絡也可能會團結不同類型的基礎設施和網格，從而降低了它們之間的成本和摩擦。

A new asset class for sovereign investment

主權投資的新資產類別

DePIN changes the way infrastructure is built. Instead of relying on governments or private companies to maintain critical infrastructure, DePIN uses blockchain and token incentives to enable community-driven bandwidth sharing.

Depin改變了基礎架構的構建方式。 Depin不依靠政府或私人公司來維持關鍵的基礎設施，而是使用區塊鍊和代幣激勵措施來實現社區驅動的帶寬共享。

DePIN networks, like those powering WiFi or movement sensors, prove that this model can be more efficient and cost-effective than traditional approaches.

像那些為WiFi或移動傳感器提供動力的Depin網絡，證明該模型比傳統方法更有效，更具成本效益。

For the US government, investing in DePIN tokens through its DAS would serve multiple strategic objectives. Regarding economic resilience, DePIN networks create a self-sustaining gig around infrastructure, reducing the country’s reliance on large corporations and enabling communities to earn revenue by contributing to infrastructure needs. Traditional infrastructure is prone to geopolitical risks and monopolistic inefficiencies.

對於美國政府而言，通過其DAS投資於Depin代幣將實現多種戰略目標。關於經濟韌性，迪地族網絡圍繞基礎設施創造了自我維持的演出，減少了該國對大型公司的依賴，並使社區能夠通過促進基礎設施需求來賺取收入。傳統的基礎設施容易出現地緣政治風險和壟斷效率低下。

Meanwhile, DePIN offers a decentralized alternative that is censorship-resistant. The US has long been at the forefront of technological revolutions. Including DePIN in its sovereign investment strategy would reinforce its position as a leader in Web3 and blockchain.

同時，DePin提供了一種抗審查制度的分散替代方案。美國長期以來一直處於技術革命的最前沿。在其主權投資策略中包括Depin將加強其作為Web3和區塊鏈領導者的地位。

Many DePIN projects optimize resource utilization using token incentives to align infrastructure deployment with demand. This approach enables more sustainable, scalable solutions for Internet-of-Things sectors. While Bitcoin is a simple store of value, DePIN tokens represent ownership and operational stakes in decentralized infrastructure and possess tangible value just as equities or bonds.

許多Depin項目使用令牌激勵措施優化資源利用，以使基礎架構部署與需求相一致。這種方法可以為貿易Internet領域提供更可持續的可擴展解決方案。雖然比特幣是一個簡單的價值存儲，但Depin代幣代表了分散基礎架構中的所有權和運營賭注，並且具有股票或債券的明顯價值。

If countries were to include DePIN tokens in their digital asset reserves, they could use blockchain technology to create self-sustaining, interconnected infrastructure economies. Imagine being able to distribute electricity between two countries when there is an excess demand in one and an oversupply in another. Distributed ledgers’ decentralized and cross-border nature can allow such mechanisms to happen.

如果各國將Depin代幣包括在其數字資產儲量中，他們可以使用區塊鏈技術來創建自我維持的，相互聯繫的基礎設施經濟體。想像一下，當一個國家的需求過剩的需求和另一個國家的過量需求時，能夠在兩個國家之間發電。分佈式分類帳的分散和跨境性質可以允許這種機制發生。

A true strategic hedge

真正的戰略對沖

Historically, sovereign wealth funds have been used to preserve national wealth by diversifying investments. These models are, however, increasingly vulnerable to inflationary pressures. The US inflation rate averaged 8.0% in 2022, and the price of all assets, whether stocks or Bitcoin, sold off heavily during the year in an overall market rout. No one was immune.

從歷史上看，主權財富基金已被用來通過多樣化的投資來維護國家財富。但是，這些模型越來越容易受到通貨膨脹壓力的影響。美國通貨膨脹率在2022年平均為8.0％，在一年中，所有資產的價格（無論是股票還是比特幣）在整個市場途中都大量出售。沒有人免疫。

On the other hand, DePIN offers a true hedge against these risks because the prices of core infrastructure services are, by definition, part of the Consumer Price Index (CPI), enabling users holding DePIN assets to directly profit from inflation increases or at least preserve their asset value.

另一方面，DePin對這些風險提供了真正的對沖，因為根據定義，核心基礎設施服務的價格是消費者價格指數（CPI）的一部分，使持有Depin Assets的用戶可以直接從通貨膨脹增加或至少保留其資產價值。

DePIN networks also use token incentives to align infrastructure deployment with economic shifts. This is particularly relevant given that global electricity prices surged by over 20% in 2022 due to supply chain disruptions and geopolitical tensions.

Depin網絡還使用令牌激勵措施將基礎設施部署與經濟轉變保持一致。鑑於供應鏈中斷和地緣政治緊張局勢，全球電價在2022年飆升了20％以上，這一點尤其重要。

In response to increased energy costs, decentralized energy grids operating on blockchain-based token economies could dynamically adjust rewards for energy producers. Coupled with the rise in underlying CPI prices, DePIN networks have the potential to deliver compounded returns (rise in CPI + additional token issuance) in opposition to such market sell-offs.

為了響應能源成本的增加，在基於區塊鏈的代幣經濟體上運行的分散的能源網格可以動態調整能源生產者的獎勵。再加上基本CPI價格的上漲，Depin Networks有可能與此類市場拋售相反，提供複雜的回報（CPI +其他代幣發行）。

Including DePIN tokens in a sovereign wealth portfolio exposes the US to next-generation economic models. DePIN networks are built on transparent principles that align incentives between users, infrastructure providers and investors. All nations that have historically led technological revolutions should seize the opportunity to embrace DePIN, reinforcing their status as pioneers.

在主權財富投資組合中包括depin代幣將美國暴露於下一代經濟模型。 Depin網絡建立在用戶，基礎設施提供商和投資者之間激勵措施的透明原則上。歷史上所有領導技術革命的國家都應該抓住機會擁抱迪申，並加強其作為先驅的地位。

The future is decentralized

未來是分散的

Integrating DePIN tokens into the US DAS or any other sovereign digital asset stockpile would not simply be a financial decision — it is a strategic imperative. With the world shifting toward decentralized economies, the US and other tech powerhouses must position themselves at the forefront of this transformation.

將DEPIN令牌集成到美國DAS或任何其他主權數字資產庫存不僅僅是財務決策 - 這是戰略的當務之急。隨著世界向分散經濟體的轉變，美國和其他技術強國必須將自己定位在這種轉變的最前沿。

Countries that recognize and embrace this shift today will be best positioned to lead in the next era of global innovation. After all, infrastructure research has been stunted by decades of either monopoly or large

認識到今天這一轉變的國家將成為下一個全球創新時代的領導地位。畢竟，基礎設施研究已經被數十年的壟斷或大型研究所困擾