Insiders emphasize the need for state-owned enterprises to lead the development of public blockchains to ensure a secure and autonomous financial infrastructure.
Insiders reported that China currently lacks a globally influential public blockchain necessary for stablecoin issuance. They advocate for state-owned enterprises to spearhead the development of national-level public blockchains, while allowing market competition for industry-level chains. The importance of public blockchains as foundational infrastructure for stablecoins is underscored, along with the geopolitical risks of relying on foreign blockchains amid rising tensions.