數位貨幣：信任的新領域

在數位貨幣的動態領域，信任呈現出新的維度。 Varun 討論穩定幣的擴散，包括 Tether 等成功案例

The advent of digital currencies has opened up a new frontier in the realm of trust. While traditional fiat currencies are backed by the trust in central banks and governments, digital currencies operate on a decentralised network, introducing a unique set of dynamics.

數位貨幣的出現開啟了信任領域的新領域。雖然傳統的法定貨幣受到中央銀行和政府信任的支持，但數位貨幣在去中心化網路上運行，引入了一系列獨特的動態。

In this article, Varun discusses the increasing proliferation of stablecoins, which are digital currencies pegged to a fiat currency like the US dollar. Among the prominent stablecoins in the market are Tether (USDT) and Circle's USD Coin (USDC), both of which have seen substantial adoption and integration into various cryptocurrency exchanges and decentralized finance (DeFi) protocols.

在本文中，瓦倫討論了穩定幣的日益擴散，穩定幣是與美元等法定貨幣掛鉤的數位貨幣。市場上著名的穩定幣包括 Tether (USDT) 和 Circle 的美元硬幣 (USDC)，這兩種穩定幣都已被大量採用並整合到各種加密貨幣交易所和去中心化金融 (DeFi) 協議中。

However, the article also delves into the darker side of stablecoins, highlighting the spectacular collapse of Terra Luna's UST, once the third-largest stablecoin by market capitalisation. The failure of UST to maintain its peg to the US dollar and its subsequent delisting from major cryptocurrency exchanges brought into sharp focus the critical role of robust reserve management in maintaining the trust of token holders.

然而，這篇文章也深入探討了穩定幣的陰暗面，強調了曾經是市值第三大穩定幣的 Terra Luna 的 UST 的驚人崩潰。 UST 未能維持與美元掛鉤以及隨後從主要加密貨幣交易所退市，使人們強烈關注強有力的儲備管理在維持代幣持有者信任方面的關鍵作用。

The article further underscores the fragility of trust in digital currencies, particularly in the wake of events like the Silicon Valley Bank crisis, which briefly caused USDC to lose its peg to the US dollar. As Varun aptly puts it, “But it's not only trust in the value of the currency that it's important with digital money.

這篇文章進一步強調了對數位貨幣信任的脆弱性，特別是在矽谷銀行危機等事件發生後，該危機曾短暫導致 USDC 失去與美元掛鉤的地位。正如瓦倫恰當地指出的那樣，「但對於數位貨幣來說，重要的不僅僅是對貨幣價值的信任。

“With a new technology like this, people need to be able to trust in the operation as well and data privacy is core to that.”

“有了這樣的新技術，人們還需要能夠信任其操作，而數據隱私是其核心。”

Highlighting the sensitivity of digital currencies to issues of data privacy, the article goes on to cite the example of Facebook's Libra project, which encountered significant roadblocks due to concerns among regulators and the public over the potential misuse of data. This ultimately led to the project being abandoned.

文章強調了數位貨幣對資料隱私問題的敏感性，並引用了 Facebook 的 Libra 專案的例子，由於監管機構和公眾對潛在的資料濫用的擔憂，該專案遇到了重大障礙。這最終導致該項目被放棄。

In light of these challenges, the article suggests that banks, with their long-standing experience in creating money and deep expertise in compliance, are uniquely positioned to play a pivotal role.

鑑於這些挑戰，文章認為，銀行憑藉其在創造貨幣方面的長期經驗和在合規方面深厚的專業知識，具有獨特的優勢，可以發揮關鍵作用。

By embracing new technologies and adapting to the evolving landscape, banks can maintain their relevance and continue to serve the financial needs of their customers in the digital age.

透過採用新技術並適應不斷變化的環境，銀行可以保持其相關性並繼續滿足數位時代客戶的金融需求。

One promising avenue for collaboration, as Varun suggests, is the tokenisation of bank deposits, which would allow banks to maintain their central role in the financial system while simultaneously addressing consumer concerns pertaining to privacy and the security of their funds.

正如瓦倫所說，一種有前景的合作途徑是銀行存款的代幣化，這將使銀行能夠保持其在金融體系中的核心地位，同時解決消費者對隱私和資金安全的擔憂。