In the ChainCatcher message, Federal Reserve President Christopher J. Waller gave a speech discussing whether DeFi (decentralized finance) is a replacement for or complement to traditional finance. He spoke positively about tokenization and stablecoins, concluding that the two are complementary.
Waller cited the benefits of stablecoins, believing they can reduce the need for intermediaries and reduce payment costs. Stablecoins have a run risk, but this can be addressed through regulatory measures, making them a “safe haven” asset on a variety of new trading platforms.
However, he also pointed out that centralized financing is still needed as most crypto customers still store their assets on crypto exchanges.
ChainCatcher reminds readers to look at blockchain rationally, increase risk awareness, and be careful about issuance and speculation of various virtual tokens. All content on this site is market information or stakeholder opinion only and does not constitute any form of investment advice. If the content contains sensitive information, please click “Report”. We will respond promptly.
