What is the essence of money in the modern financial system? It has far surpassed the concept of physical currency and evolved into a flow of data in the digital world.

Imagine that when you have one million dollars in your bank account, it is actually just a string of numbers in the banking system. This number represents your wealth, but its form of existence is merely an electronic record.

When we make payments using credit cards, we are actually exchanging and coordinating data between different banking systems. Credit card companies play the role of data coordinators in this process and thus charge high fees. Surprisingly, this model has been widely accepted, and few people question its legitimacy.

What is even more concerning is that many people do not understand that their deposits are being used by banks for various investment and lending activities. Banks use deposits to purchase government bonds or lend to other financial institutions, generating considerable profits from them. However, as a depositor, you can only receive a negligible interest return.

Against this backdrop, stablecoins are rapidly emerging as a new form of digital currency. They offer a decentralized and more transparent way to store and transact value. With the rapid growth of the stablecoin market, the global payment system is facing unprecedented changes.

This financial revolution is not just a technological advancement, but a challenge to the traditional financial system. It compels us to rethink the nature of currency, the creation and distribution of value, and the role and rights of individuals within the financial system. In the future, we may witness the birth of a fairer and more efficient financial ecosystem.