This episode covers the digitization of payments and the rise of stablecoins. We discuss China's CBDC project, the success of USD stablecoins, and the barriers to broader stablecoin adoption. We also examine how stablecoins could reshape the modern payment infrastructure.Guests: Lin William Cong (Cornell University), Simon Mayer (Carnegie Mellon University)Paper: Strategic Digitization in Currency and Payment Competition [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4063878]