Can stablecoins replace traditional currencies? The most important thing about stablecoins is that they adjust the structure of credit expansion, compress credit derived currencies, and increase the share of base currency. The expansion of stablecoins will lead to a crisis in the legitimacy of the issuance of base currencies, breaking through traditional fiscal and tax logic and potentially ushering in the birth of sovereign wealth funds that rely solely on monetary expansion. If the stablecoin system develops a "collateralized asset money creation" process in the future, it will be a completely detached monetary expansion path from the banking system. So the most revolutionary reform space is to redefine what assets are. 4. Sovereign wealth funds - stablecoin systems have the potential to develop into a complete monetary system. This system, jointly controlled by the Ministry of Finance and sovereign wealth funds, can fully imitate China's industrial investment and national infrastructure construction models under the guidance of a powerful state-owned assets commission. 5. Moreover, the entire system can achieve interest free loans throughout the entire process, with blockchain monitoring throughout the entire process. If industrial investment uses listing as an exit channel, it may naturally drive a large amount of social capital to invest. For a country where the banking system is mainly privatized, the central bank is an independent institution, and there is no hardworking people to transfer risks and costs, completing all of this is a truly genius idea.