A recent panel discussion at the Wharton Future of Finance Forum, featuring Bill Dudley, Tobias Adrian, and Heath Tarbert, explored the future of the U.S. dollar amidst geopolitical challenges, focusing on the adoption of blockchain and stablecoin technologies to maintain global financial leadership. The dialogue emphasized the necessity of U.S. stablecoin legislation to create a balanced regulatory framework and the importance of international cooperation in modernizing global payment systems. Panelists highlighted the transformative potential of digital assets and the need for the U.S. to catch up with global advancements in real-time payment systems, warning of the risks associated with the overuse of sanctions and the potential fragmentation of the global payments system. The discussion concluded that stablecoins could play a central role in future payment systems, potentially reducing the need for central bank digital currencies, and stressed the significance of regulatory action and technological innovation to ensure the U.S. dollar's continued dominance in global finance.