Jeremy Allaire: Consortium style stablecoins are difficult to succeed, network effects determine victory or defeat

Jeremy Allaire, the co-founder of Circle, said that the essence of stable currency network is an Internet platform business, and network effect and liquidity are decisive factors. Jeremy Allaire questioned the consortium style stablecoin models such as OUSD, arguing that the multi-party alliance structure has problems such as slow decision-making, inconsistent incentives, and insufficient long-term execution, as well as a lack of profitability to support infrastructure investment.