Digital trade coin: towards a more stable digital currency | Zendy

Alex Lipton | Zendy; Thomas Hardjono | Zendy; Alex Pentland | Zendy

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Digital trade coin: towards a more stable digital currency

Author(s) -

Alex Lipton,

Thomas Hardjono,

Alex Pentland

Publication year - 2018

Publication title -

royal society open science

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.84

H-Index - 51

ISSN - 2054-5703

DOI - 10.1098/rsos.180155

Subject(s) - cryptocurrency , digital currency , distributed ledger , asset (computer security) , currency , fiat money , business , lease , computer science , commerce , blockchain , economics , computer security , monetary economics , finance , monetary policy

We study the evolution of ideas related to creation of asset-backed currencies over the last 200 years and argue that recent developments related to distributed ledger technologies and blockchains give asset-backed currencies a new lease of life. We propose a practical mechanism combining novel technological breakthroughs with well-established hedging techniques for building an asset-backed transactional oriented cryptocurrency, which we call the digital trade coin (DTC). We show that in its mature state, the DTC can serve as a much-needed counterpoint to fiat reserve currencies of today.

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