My vision is summarized in the following points:
Trust and Stability: Government-backed stablecoins enjoy a high level of trust compared to private cryptocurrencies, as they are based on actual reserves and are subject to official oversight, which reduces sharp volatility and increases their reliability in transactions.
Enhancing Financial Inclusion: Such currencies can help expand access to financial services, especially in areas suffering from poor banking infrastructure, by providing a secure and fast digital payment method.
Easy Integration with Traditional Financial Systems: Being backed by central banks or government entities, stablecoins facilitate integration with existing banking systems, making their use in daily payments smoother.
Competition with Traditional Cryptocurrencies: This type of currency may reduce the need for decentralized cryptocurrencies, which suffer from high volatility and regulatory uncertainty.
Stimulating the Digital Economy: Initiatives like these help build modern digital infrastructure, encourage the development of new technological solutions, and attract investments in the fintech sector.
However, conversely, challenges related to privacy, the impact of these currencies on the traditional banking system, and how governments will handle cross-border issues must also be considered.