Academician Chen Chun: When Hong Kong issues stablecoins, it should limit their scale within a certain range, such as 200 million or 2 billion

ChainCatcher news, Academician Chen Chun, who previously explained blockchain-themed collective learning for the Political Bureau, stated yesterday afternoon at the Hong Kong Democratic Alliance for the Betterment and Progress of Hong Kong's "Digital Economy Exchange Meeting" that Hong Kong needs a new management model to address these issues when conducting transactions through digital currency.

Even when using blockchain technology in the information space, it is still necessary to ensure its value is reflected in real society. In the information space, to promote production development, it can operate without the constraints of real-name systems; however, when it involves ethical issues, technical means are needed to control risks. The design of the management system needs a brake mechanism, as risks may be amplified or reduced through the information space, making the establishment of a "sandbox" management system very important. For example, when issuing stablecoins, their scale should be limited to a certain range, such as 200 million or 2 billion, and ensure that management boundaries are clear.