The central bank is personally getting involved in blockchain? The good days for 'wild children' like USDT and USDC are probably coming to an end! President Pan's words are simply ringing the death knell for private stablecoins!

Pan Gongsheng said to use blockchain for central bank digital currency CBDC, sounds lofty? In simple terms, it means the national team is coming in with the real deal to clear the field! Why? The first blow is efficiency: using blockchain for global bookkeeping, cross-border payments as fast as lightning, the old SWIFT system is likely to be 'paralyzed'!
The second blow to trust: Waiting for various countries' CBDCs, who would still dare to trust USDT, this 'private IOU' without state backing? It can turn into waste paper with a word! Think about it, in 2023 Tether was exposed with a $19 billion hole, relying on crazy money printing to muddle through? It's terrifying to think about!