花旗银行：2025年数字美元：银行与公共部门驱动下的区块链技术应用研究报告（英文版）

With the tailwind of regulatory support and factors such as the increased integration of digital assets into incumbent financial institutions and favorable macroeconomics, we expect increased demand for stablecoins ahead. Blockchain introduces a decentralized, trust-based approach to managing public sector data. Unlike traditional systems, where trust is established through a central authority – such as a government verifying its own records – blockchain relies on cryptographic proof. Globally,