Chen Chun: When issuing stablecoins in Hong Kong, the scale should be limited to a certain range, such as 200 million or 2 billion yuan

Academician Chen Chun, who previously gave a collective study on Blockchain to the Political Bureau, said at the Hong Kong Democratic Alliance for the Betterment and Progress of Hong Kong (DAB) Digital Economy Exchange yesterday that Hong Kong needs a new management model to deal with these issues when conducting transactions through digital currency. Even when using blockchain technology in the cyberspace, it is still necessary to ensure its value in the real society. In the cyberspace, in order to promote production development, it is possible to be unconstrained by real-name system, but when it comes to moral and ethical issues, technical means are needed to control risks. The design of the management system needs a brake mechanism, and it is very important to establish a sandbox management system where risks may be amplified or reduced through cyberspace. For example, when issuing stablecoins, its size should be limited to a certain range, such as 200 million or 2 billion yuan, and ensure clear management boundaries.