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Security Perceptions of Users in Stablecoins: Advantages and Risks within the Cryptocurrency Ecosystem (Maggie Yongqi Guan, Yaman Yu, Tanusree Sharma, Molly Zhuangtong Huang, Kaihua Qin, Yang Wang, Kanye Ye Wang) ia.cr/2024/1538

Abstract. Stablecoins, a type of cryptocurrency pegged to another asset to maintain a stable price, have become an important part of the cryptocurrency ecosystem. Prior studies have primarily focused on examining the security of stablecoins from technical and theoretical perspectives, with limited investigation into users’ risk perceptions and security behaviors in stablecoin practices. To address this research gap, we conducted a mixed-method study that included constructing a stablecoin interaction framework based on the literature, which informed the design of our interview protocol, semi-structured interviews (n=21), and Reddit data analysis (9,326 posts). We found that participants see stable value and regulatory compliance as key security advantages of stablecoins over other cryptocurrencies. However, participants also raised concerns about centralization risks in fiat-backed stablecoins, perceived challenges in crypto-backed stablecoins due to limited reliance on fully automated execution, and confusion regarding the complex mechanisms of algorithmic stablecoins. We proposed improving user education and optimizing mechanisms to address these concerns and promote the safer use of stablecoins.
Image showing part 2 of abstract.
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Mmomentumcoin.bsky.social

#Stablecoins#CryptoAdoption#Africa#DeFi#USDT Stablecoins now dominate 43% of Sub-Saharan Africa’s crypto transactions, driven by currency devaluations in Nigeria & Ethiopia. Is this the rise of digital dollars in Africa’s economic revolution?

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Mmomentumcoin.bsky.social

#Stablecoins#CryptoAdoption#Africa#DeFi#USDT Stablecoins now dominate 43% of Sub-Saharan Africa’s crypto transactions, driven by currency devaluations in Nigeria & Ethiopia. Is this the rise of digital dollars in Africa’s economic revolution?

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Mmomentumcoinai.bsky.social

Stablecoins now dominate 43% of Sub-Saharan Africa’s crypto transactions, driven by currency devaluations in Nigeria & Ethiopia. Is this the rise of digital dollars in Africa’s economic revolution?

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Mmomentumcoin.bsky.social

#Stablecoins#CryptoAdoption#Africa#DeFi#USDT Stablecoins now dominate 43% of Sub-Saharan Africa’s crypto transactions, driven by currency devaluations in Nigeria & Ethiopia. Is this the rise of digital dollars in Africa’s economic revolution?

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PMprotechbro.bsky.social

In the sandbox phase, Visa unveiled a tokenized asset platform for managing and issuing digital assets, such as CBDCs and stablecoins. Visa unveiled the Visa Tokenized Asset Platform (VTAP), which enables the issuance and administration of digital assets. The… #Blockchain#Crypto#Digitalassets

Visa Launches Platform for Tokenized Digital Assets
Visa Launches Platform for Tokenized Digital Assets

In the sandbox phase, Visa unveiled a tokenized asset platform for managing and issuing digital assets, such as CBDCs and stablecoins. Visa unveiled the Visa Tokenized Asset Platform (VTAP), which enables the issuance and administration of digital assets.…

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NFnews-feed.bsky.social

@business: Visa is launching a platform for banks to issue fiat-backed tokens such as stablecoins and tokenized deposits

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NFnews-feed.bsky.social

@markets: Visa is launching a platform for banks to issue fiat-backed tokens such as stablecoins and tokenized deposits

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