懷俄明州雄心勃勃的計劃推出國家支持的穩定幣

- 事實證明，懷俄明州的高原和雄偉山脈是為加密貨幣監管奠定基礎的活動溫床。

Wyoming Stable Token Plan Faces Challenges in Consumer Adoption

懷俄明州穩定代幣計畫面臨消費者採用的挑戰

(Bloomberg) -- Wyoming’s plan to launch a dollar-backed token by early 2025 faces a key challenge: convincing consumers to adopt a new payment method and shepherding them through a steep learning curve.

（彭博）—懷俄明州計劃在 2025 年初推出美元支持的代幣，但面臨一個關鍵挑戰：說服消費者採用新的支付方式，並引導他們完成陡峭的學習曲線。

The Cowboy State announced plans last month to launch its own stablecoin, aiming to lower consumer payment costs using blockchain technology. The token will be available for purchase through existing crypto exchanges and, over time, consumers will be able to use the digital tokens to pay for everyday expenses, according to the Wyoming Stable Token Commission.

牛仔州上個月宣布計劃推出自己的穩定幣，旨在利用區塊鏈技術降低消費者支付成本。根據懷俄明州穩定代幣委員會的說法，該代幣將可以透過現有的加密貨幣交易所購買，隨著時間的推移，消費者將能夠使用數位代幣來支付日常開支。

But in the US, the status quo for consumer payments is card networks. For consumers, credit cards often offer lucrative rewards programs, convenience, fraud protection and chargeback options – all of which would likely need to be reimagined to convince people to adopt stablecoin payments.

但在美國，消費者支付的現況是卡片網路。對於消費者來說，信用卡通常提供利潤豐厚的獎勵計劃、便利性、詐欺保護和退款選項——所有這些可能都需要重新構想，以說服人們採用穩定幣支付。

The payoff would be curbing the costly fees merchants pay to payment processors, service providers and card networks, according to Anthony Apollo, executive director of the Wyoming Stable Token Commission.

懷俄明州穩定代幣委員會執行董事 Anthony Apollo 表示，這樣做的回報將是減少商家向支付處理商、服務提供者和卡片網路支付的高昂費用。

Credit card purchases typically cost merchants around 2% in swipe fees charged by banks and card networks like Visa and Mastercard. But, the average cost per transaction on public blockchains is fractions of a penny. On Solana, for example, the average cost per transaction is $0.00064.

信用卡購買通常需要向商家收取 2% 左右的刷卡費，銀行和 Visa 和 Mastercard 等信用卡網路都會收取這種費用。但是，公共區塊鏈上每筆交易的平均成本僅為一美分的幾分之一。例如，在 Solana 上，每筆交易的平均成本為 0.00064 美元。

The card fees are a hot button issue for merchants and in recent years have spilled over into the public eye with the rise of surcharging at stores across the country as they attempt to pass processing fees onto their customers.

卡費對商家來說是一個熱門議題，近年來，隨著全國各地商店試圖將手續費轉嫁給顧客，附加費不斷增加，卡費已經進入公眾視野。

The Wyoming Stable Token Commission plans to launch the token by early 2025. Once launched, the Wyoming token will need to compete with stablecoins like Tether’s USDT or Circle’s USDC, which have market capitalizations of $118 billion and $35 billion, respectively.

懷俄明州穩定代幣委員會計劃在2025 年初推出該代幣。美元。

However, competing with industry coins may not be as important to the state as signaling their innovation-friendly attitude, said Lee Reiners, a lecturing fellow at Duke Financial Economics Center.

然而，杜克大學金融經濟中心的講師 Lee Reiners 表示，對國家來說，與產業貨幣競爭可能不像顯示其創新友善態度那麼重要。

“From my vantage point the Wyoming policymakers have effectively been captured by crypto interests who have decided to make Wyoming this sandbox/playground,” Reiners says. The stable token is “keeping with that trend. To me, it’s more of a signaling device than anything that will have substantive meaning.”

「從我的角度來看，懷俄明州的政策制定者實際上已經被加密貨幣利益集團所俘獲，他們決定將懷俄明州打造成沙盒/遊樂場，」賴納斯說。穩定代幣「順應了這一趨勢」。對我來說，它更像是一種信號裝置，而不是任何具有實質性意義的東西。

The proposed Wyoming stable token will be backed 102% by US dollars and short-term treasuries. Interest generated by reserve assets will be donated to Wyoming public schools.

擬議的懷俄明州穩定代幣將由 102% 的美元和短期國債支持。儲備資產產生的利息將捐贈給懷俄明州公立學校。

Dollar stablecoins are designed to track the value of US dollars one-for-one and today are primarily used as bridge currencies in and out of the crypto economy. Stablecoins are not as volatile as other cryptocurrencies, but they still carry risks.

美元穩定幣旨在一對一地追蹤美元的價值，如今主要用作加密經濟進出的橋樑貨幣。穩定幣不像其他加密貨幣那樣波動，但仍存在風險。

When a stablecoin’s value falls out of step with the currency it’s designed to track, it’s called “depegging.” During the regional bank crisis last March, the second-largest stablecoin by market capitalization, Circle’s USDC, lost its dollar-peg after Circle disclosed it held $3.3 billion worth of reserves at Silicon Valley Bank.

當穩定幣的價值與其旨在追蹤的貨幣不一致時，稱為「脫鉤」。去年 3 月的地區銀行危機期間，市值第二大的穩定幣 Circle 的 USDC 在 Circle 披露其在矽谷銀行持有價值 33 億美元的儲備後，失去了與美元掛鉤的地位。

Wyoming plans to carefully monitor its reserves, but the token will not be backed by the full faith and credit of the state. This means that if there is a depegging event, taxpayer money will not be used to prop up the stablecoin.

懷俄明州計劃仔細監控其儲備，但該代幣不會得到該州的充分信任和信用支持。這意味著，如果發生脫鉤事件，納稅人的錢將不會用於支撐穩定幣。

Wyoming has been building its brand as a haven for the cryptocurrency industry in an effort to bring economic diversity to a state that’s been long dependent on revenue from the fossil fuel industry. In an effort to reduce this dependence, Wyoming has taken strides to make it easier for crypto businesses to operate in the state.

懷俄明州一直在打造其作為加密貨幣產業避風港的品牌，努力為這個長期依賴化石燃料產業收入的州帶來經濟多樣性。為了減少這種依賴，懷俄明州已採取措施，讓加密貨幣企業更容易在該州運作。

The stable token initiative marks a significant uptick in terms of investment dollars. The investment seems to reflect a sentiment that the stable token will be a meaningful revenue driver for the state. In 2023, stablecoin issuer Tether reported $4 billion in net profits generated by US Treasuries.

穩定代幣計劃標誌著投資金額的顯著上升。這項投資似乎反映出一種情緒，即穩定代幣將成為該州有意義的收入驅動力。 2023 年，穩定幣發行商 Tether 公佈的美國公債淨利為 40 億美元。

“It’s a bet, a calculated gamble that if crypto takes off Wyoming will benefit,” Reiners says.

「這是一場賭注，一場精心策劃的賭博，如果加密貨幣起飛，懷俄明州將受益，」賴納斯說。

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