This Cryptocurrency Seems Designed For A Post-State Society

gepubliceerd op by Cointele | gepubliceerd op

Upstart crypto company Saga wants to issue a new global currency on the blockchain.

Saga's SGA digital currency relies on an international reserve asset called Special Drawing Rights, which was introduced by the International Monetary Fund in 1969.

These days, one SDR is worth about $1.40 USD, and SGA will be worth the same when it launches.

SGA's value can go up or down depending on how many other people are using SGA. To buy this cryptocurrency is to cause Saga's smart contracts to generate it from scratch.

So the monetary value of SGA can change, but the idea is that any change in price happens slowly and sustainably.

So SGA is not a stablecoin with a permanently fixed price.

You could fairly call it a "Stable currency."

"It's increasingly clear that for a global economy, we need a global currency," said Saga founder Ido Sadeh Man.

While the thought of regulating some new global currency might seem silly, this compatibility should be quite appealing to policymakers.

SGA launches on December 10th and will be available for trading on Liquid.

Recent nieuws Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.
x