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“Not one of the stablecoins assessed in this paper has been able to maintain their closing prices in parity with their peg,” wrote the Bank for International Settlements.
Cryptography experts are somewhat skeptical of the technique's scalability, but aren't ruling out the possibility of success either.
Zhiyuan Sun
Zhiyuan sun is an editor at Cointelegraph focusing on technology-related news. He has several years of experience writing for major financial media outlets such as The Motley Fool, Nasdaq.com and Seeking Alpha.