比特幣對直接點對點付款的分散數字貨幣的願景仍未實現

自2009年成立以來，比特幣的願景很明顯：一種用於直接點對點付款的分散數字貨幣，削減了中介。

Since its inception in 2009, Bitcoin's vision has been clear: a decentralized digital currency for direct peer-to-peer payments, cutting out intermediaries. While Bitcoin has certainly gained global prominence, its journey has largely seen it embraced as a speculative asset rather than a widespread, everyday payment method.

自2009年成立以來，比特幣的願景就很明顯：一種分散的數字貨幣，用於直接點對點付款，削減了中介機構。儘管比特幣肯定已經獲得了全球知名度，但它的旅程在很大程度上被認為是投機性資產，而不是一種廣泛的日常支付方法。

While you can certainly pay for some (mostly online) services with Bitcoins, such as web hosting or VPNs, the truly mainstream purchase for everyday items remains largely out of reach for the average person. On average, Bitcoin transactions still take about 10 minutes on average to confirm, and that’s not something quite user-friendly. Not to mention that transaction fees can become prohibitively high during peak periods, making small or everyday transactions less feasible.

雖然您當然可以用比特幣（例如Web託管或VPN）為某些（主要是在線）服務付費，但對於普通人來說，真正的日常用品的真正主流購買仍然是遙不可及的。平均而言，比特幣交易平均需要大約10分鐘的時間才能確認，這並不是很友好的。更不用說交易費用在高峰期會變得過高，從而使小型或日常交易降低。

However, a new report by the Bank for International Settlements (BIS) might shed light on why exactly Bitcoin and other cryptocurrencies never quite reached their full potential and mainstream adoption.

但是，國際定居銀行（BIS）銀行的一份新報告可能會闡明為什麼比特幣和其他加密貨幣從未完全發揮其全部潛力和主流採用。

This month, BIS researchers published a report titled "Cryptocurrencies and Decentralised Finance: Functions and Financial Stability Implications," examining the economic functions of cryptocurrencies and decentralised finance (DeFi) and their potential risks to financial stability, proposing regulatory measures.

本月，BIS研究人員發表了一份標題為“加密貨幣和分散財務：功能和金融穩定意義”的報告，研究了加密貨幣和分散財務的經濟功能（DEFI）及其對金融穩定性的潛在風險，提出了監管措施。

The paper highlights how cryptocurrencies and DeFi, aiming to mirror many services offered by traditional finance (TradFi) like lending, borrowing, and trading, actually introduce new financial stability risks thanks to their unique characteristics.

該論文強調了加密貨幣和Defi的目標，目的是反映傳統金融（Tradfi）提供的許多服務，例如貸款，借貸和交易，實際上由於其獨特的特徵而引入了新的財務穩定風險。

For example, while smart contracts and decentralised exchanges (DEXs) offer efficiency gains, the report notes they also create challenges like information advantages for some users (asymmetries) and market inefficiencies. Stablecoins also have a notable role in DeFi, however, they can be a source of instability if not properly regulated.

例如，儘管智能合同和分散交易所（DEX）提供效率提高，但報告指出，它們還為某些用戶（不對稱）（不對稱）和市場效率低下造成了挑戰。穩定劑在DEFI中也具有顯著的作用，但是，如果不正確調節，它們可能是不穩定的來源。

In addition, the paper establishes that the adoption of cryptocurrencies in emerging markets can lead to a term called 'cryptoisation', where traditional financial systems are bypassed, potentially undermining monetary sovereignty and financial stability.

此外，該論文確定在新興市場中採用加密貨幣可能會導致一個稱為“加密化”的術語，在該術語中，傳統的金融系統被繞過，可能破壞了貨幣主權和金融穩定。

The report concludes that cooperation between regulators and policymakers is crucial to mitigate these risks and ensure the stability of the financial system as decentralised finance continues to evolve.

該報告得出結論，監管機構與政策制定者之間的合作對於減輕這些風險至關重要，並確保隨著分散財務的不斷發展，金融體系的穩定性。

"The rapid development of cryptocurrencies and decentralised finance poses new challenges for financial stability," said Fabio Balboni, a researcher in the BIS monetary and economic department and co-author of the paper.

“加密貨幣和分散財務的快速發展為金融穩定帶來了新的挑戰，” BIS貨幣和經濟部的研究人員兼本文合著者Fabio Balboni說。

"While these technologies offer interesting possibilities for innovation and efficiency gains, they also come with unique risks that need to be carefully managed."

“儘管這些技術為創新和效率提高提供了有趣的可能性，但它們也帶來了需要精心管理的獨特風險。”

The researchers suggest that regulators consider the specificities of crypto technologies and products when designing regulatory frameworks, striking a balance between promoting innovation and protecting the financial system. They also highlight the importance of international cooperation to ensure consistent and effective regulation across different jurisdictions.

研究人員建議監管機構在設計監管框架時考慮加密技術和產品的特殊性，在促進創新和保護金融體系之間取得平衡。他們還強調了國際合作在確保不同司法管轄區的一致和有效法規方面的重要性。

As cryptocurrencies continue to evolve and gain attention, the findings of this report provide valuable insights for policymakers and regulators seeking to navigate the complex landscape of decentralised finance and ensure its stability in the years to come.

隨著加密貨幣繼續發展和引起關注，該報告的結果為尋求駕駛分散財務的複雜景觀的政策制定者和監管機構提供了寶貴的見解，並確保其在未來幾年中的穩定性。

The post Bitcoin: Unfavorable Regulations and High Transaction Fees Hinder Mainstream Use Despite Hype appeared first on Coin Edition.

比特幣後：不利的法規和高交易費用阻礙了主流使用，儘管炒作是在硬幣版本上出現的。