According to Caixin on August 2nd, an insider stated in an interview regarding stablecoins that my country currently lacks a globally influential public blockchain. Another insider suggested that the construction of national backbone public chains should be led by central state-owned enterprises, while the development of industry-level public chains should be open to market competition. One insider stated, "Public chains are the infrastructure for the issuance of stablecoins. They are of vital importance and indispensable for building an independent, controllable, secure, and efficient financial infrastructure system for the digital financial era." A person familiar with policy stated, "Stablecoins must be issued on public chains. The current problem is that my country lacks a globally influential public chain, whether in Hong Kong or mainland China. If we use a US public chain, we could face political risks such as the Sino-US confrontation in the future, potentially being choked." "Next, we must increase investment in public blockchains, ensure independent control, and develop them in a tiered manner. For example, national backbone public chains should be led by central state-owned enterprises, while industry-level public chains should be open to market competition, and scenario-specific public chains should be fully market-based," another insider suggested.