agaiziunas
02-27-2018, 09:34 AM
End the Fed? Blockchain and distributed ledgers have given us a way to simply go around the Fed. In 2018 you'll finally start seeing truly asset-backed cryptocurrencies coming to market. Hint: the real ones will never issue an ICO, because that just means they can already 'print' their money out of thin air just like the Fed.
I wanted to start gathering some networking and feedback from the community on digital 'sound money' (like the project I joined, Turbadium) -- cryptocurrency that can only be 'minted' by depositing asset tokens. Asset tokens represent legally binding equity interests in off-chain assets (we're launching with commercial & residential real estate primarily), so the currency becomes backed by something of measurable, intrinsic value. The currency can also be destroyed to withdraw the asset tokens from deposit, meaning the currency itself is redeemable at will and on demand for the assets backing it. We've developed the legal & regulatory framework for the asset tokenization (at least for certain jurisdictions) and are well underway assembling the technology.
This is not a pitch for Turbadium but more for getting a discussion going around how 'End the Fed' might not be accomplished through political means, but rather by simply having the people develop their own alternatives using distributed blockchain applications. There are other companies out there trying to put this type of solution together -- if it's not us, someone else's creation will replace the fiat currencies and empty fluffcoins (e.g. bitcoin) out there in circulation today.
My questions are around who here uses cryptocurrencies and whether they feel a truly asset-backed crypto would be more or less enticing to them? Provided the supply cannot be manipulated by any central authorities or organizations and is market driven (much like commodities), we see the long-term roadmap of these currencies eventually Ending the Fed not by votes or bills or legislative action, but simply by driving it into irrelevancy where no one really cares what they do because no one really uses its product (USD) anymore.
Thoughts?
I wanted to start gathering some networking and feedback from the community on digital 'sound money' (like the project I joined, Turbadium) -- cryptocurrency that can only be 'minted' by depositing asset tokens. Asset tokens represent legally binding equity interests in off-chain assets (we're launching with commercial & residential real estate primarily), so the currency becomes backed by something of measurable, intrinsic value. The currency can also be destroyed to withdraw the asset tokens from deposit, meaning the currency itself is redeemable at will and on demand for the assets backing it. We've developed the legal & regulatory framework for the asset tokenization (at least for certain jurisdictions) and are well underway assembling the technology.
This is not a pitch for Turbadium but more for getting a discussion going around how 'End the Fed' might not be accomplished through political means, but rather by simply having the people develop their own alternatives using distributed blockchain applications. There are other companies out there trying to put this type of solution together -- if it's not us, someone else's creation will replace the fiat currencies and empty fluffcoins (e.g. bitcoin) out there in circulation today.
My questions are around who here uses cryptocurrencies and whether they feel a truly asset-backed crypto would be more or less enticing to them? Provided the supply cannot be manipulated by any central authorities or organizations and is market driven (much like commodities), we see the long-term roadmap of these currencies eventually Ending the Fed not by votes or bills or legislative action, but simply by driving it into irrelevancy where no one really cares what they do because no one really uses its product (USD) anymore.
Thoughts?