As 2019 approaches, the commercial battle has begun. Since January, several stable coin projects have been announced, continuing last year's market heat.
In response to the influx of tourists, Kaohsiung City, Taiwan, launched an official stable currency supported by the local tourism bureau and financial institutions, and the project was piloted on January 18 in three tourist hotspots, South China Market, Guanghua Market and Hexa Night Market. Kaohsiung's government says the pilot is based on blockchain technology, which users can try out through a smartphone app.
According to The Nikkei, Japan's Mizuho Industrial Bank and regional banks will launch a digital currency in March that will be associated with Japanese yen at a 1:1 exchange rate.
According to relevant sources, in 2018 the popular stable coin QC has prepared a new version, based on the Ethereum smart contract to issue a pledge of U.S. dollar stable coin CNY stable coin. This version is safer and faster, and the pledged assets are US Dollar stable coins. All transactions are implemented and executed through smart contracts, enabling 100% decentralisation, free circulation, exchange rate stability, and security compliance.
Blockchain industry professionals believe that the new version of the stable coin will also be of considerable significance to the blockchain industry. If the project continues, it will help dispel doubts about stable coin market and attract more traditional financial institutions to enter the cryptocurrency sector with the help of stable coins.