Bill Maurer, dean of the School of Social Sciences at the University of California, Irvine, who studies financial systems, said he will be watching Roughrider coin closely. “The Bank of North Dakota is the only state-owned bank in the US with a very specific role historically in providing credit to farmers and businesses there,” Maurer wrote in an email. “We could see in other words the development of a model here that is very different from the hype-driven stablecoin activity taking place in much of the market.” Maurer expressed skepticism upon the launch of Wyoming’s coin, even claiming that “there is no use case” for such a technology. But he admitted that a partnership between a state and a core financial firm like Fiserv could make sense.

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