怀俄明州雄心勃勃的计划推出国家支持的稳定币

- 事实证明，怀俄明州的高原和雄伟山脉是为加密货币监管奠定基础的活动温床。

Wyoming Stable Token Plan Faces Challenges in Consumer Adoption

怀俄明州稳定代币计划面临消费者采用方面的挑战

(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.

（彭博社）——怀俄明州计划在 2025 年初推出美元支持的代币，但面临着一个关键挑战：说服消费者采用新的支付方式，并引导他们完成陡峭的学习曲线。

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.

牛仔州上个月宣布计划推出自己的稳定币，旨在利用区块链技术降低消费者支付成本。根据怀俄明州稳定代币委员会的说法，该代币将可以通过现有的加密货币交易所购买，随着时间的推移，消费者将能够使用数字代币来支付日常开支。

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.

但在美国，消费者支付的现状是卡网络。对于消费者来说，信用卡通常提供利润丰厚的奖励计划、便利性、欺诈保护和退款选项——所有这些可能都需要重新构想，以说服人们采用稳定币支付。

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.

怀俄明州稳定代币委员会执行董事 Anthony Apollo 表示，这样做的回报将是减少商家向支付处理商、服务提供商和卡网络支付的高昂费用。

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.

信用卡购买通常需要向商家收取 2% 左右的刷卡费，银行和 Visa 和 Mastercard 等信用卡网络都会收取这种费用。但是，公共区块链上每笔交易的平均成本仅为一美分的几分之一。例如，在 Solana 上，每笔交易的平均成本为 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.

卡费对于商户来说是一个热点问题，近年来，随着全国各地商店试图将手续费转嫁给顾客，附加费不断增加，卡费已经进入公众视野。

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.

怀俄明州稳定代币委员会计划在 2025 年初推出该代币。一旦推出，怀俄明州代币将需要与 Tether 的 USDT 或 Circle 的 USDC 等稳定币竞争，后两者的市值分别为 1180 亿美元和 350 亿美元。

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，杜克大学金融经济中心的讲师 Lee Reiners 表示，对国家来说，与行业货币竞争可能并不像表明其创新友好态度那么重要。

“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.”

“从我的角度来看，怀俄明州的政策制定者实际上已经被加密货币利益集团所俘获，他们决定将怀俄明州打造成沙盒/游乐场，”赖纳斯说。稳定代币“顺应了这一趋势”。对我来说，它更像是一种信号装置，而不是任何具有实质性意义的东西。”

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.

拟议的怀俄明州稳定代币将由 102% 的美元和短期国债支持。储备资产产生的利息将捐赠给怀俄明州公立学校。

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.

美元稳定币旨在一对一地追踪美元的价值，如今主要用作加密经济进出的桥梁货币。稳定币不像其他加密货币那样波动，但仍然存在风险。

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.

当稳定币的价值与其旨在追踪的货币不一致时，称为“脱钩”。去年 3 月的地区银行危机期间，市值第二大的稳定币 Circle 的 USDC 在 Circle 披露其在硅谷银行持有价值 33 亿美元的储备后，失去了与美元挂钩的地位。

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.

怀俄明州计划仔细监控其储备，但该代币不会得到该州的充分信任和信用支持。这意味着，如果发生脱钩事件，纳税人的钱将不会用于支撑稳定币。

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.

怀俄明州一直在打造其作为加密货币行业避风港的品牌，努力为这个长期依赖化石燃料行业收入的州带来经济多样性。为了减少这种依赖，怀俄明州已采取措施，让加密货币企业更容易在该州运营。

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.

稳定代币计划标志着投资金额的显着上升。这项投资似乎反映出一种情绪，即稳定代币将成为该州有意义的收入驱动力。 2023 年，稳定币发行商 Tether 公布的美国国债净利润为 40 亿美元。

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

“这是一场赌注，一场精心策划的赌博，如果加密货币起飞，怀俄明州将受益，”赖纳斯说。

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