What are government stablecoins and why is KGST important?
Government stablecoins are digital assets issued or backed by the state. Their main purpose is to maintain a stable value and simplify digital payments for citizens and businesses.
KGST is an example of such a stablecoin. It is tied to the national currency and helps:
reduce volatility compared to regular cryptocurrencies
simplify transfers within the country and beyond
increase the transparency of financial transactions
accelerate the digital economy
Unlike unstable assets, government stablecoins can be used for everyday payments, government programs, and international settlements.
The development of solutions like KGST shows that blockchain can work in conjunction with the state and provide real benefits to society.