Japan's Central Bank Governor Kazuo Ueda recently spoke out, specifically discussing the now popular stablecoin. He said that if this thing really becomes widespread, the impact could be enormous! Especially for transactions that do not go through traditional banking channels, it would have a "earthquake-level" impact.

In simple terms, stablecoins are cryptocurrencies that are pegged to currencies like the US dollar or the Japanese yen, which have a relatively stable price. More and more people are using this for transfers and transactions, without going through banks. Governor Ueda's words are a reminder to everyone: this is not a simple matter!
Think about it, if everyone uses stablecoins for transactions, wouldn't banks become obsolete? Traditional services like deposits, withdrawals, and transfers would all be affected. Moreover, many online transactions and cross-border payments are already using stablecoins, which are faster and have lower fees. This poses a significant challenge to traditional banks.
President Ueda's statement serves as a reminder to the financial sector: it's time to seriously study stablecoins! After all, this pertains to the future of the entire financial system. However, ordinary citizens shouldn’t be too anxious; they should save money when necessary and transfer funds when needed. The Central Bank will definitely keep an eye on this matter.
Ultimately, the development of technology is like this; it will always bring new changes. Banks also need to keep up with the times, otherwise, they might really be "revolutionized" by these new gadgets. However, that being said, it is still too early to conclude whether stablecoins can completely replace traditional banks, so let's wait and see! #PI# pijs