According to Roubini, this new tokenized dollar would address concerns regarding currencies affected by inflation and the economic climate, and unlike major cryptocurrencies, it would be backed by real assets such as treasuries, gold, real estate, and many others. products.
The more than 10 years that the digital currency ecosystem has been operating have made more than one person change their opinion regarding these assets, and just as there are important figures who today see great possibilities in these technologies, there are also people who have changed their perspective and now they explore possibilities hand in hand with blockchain and cryptocurrencies even if they are not entirely in agreement with these issues.
Such is the case of Nouriel Roubini, a renowned New York City-based economist who in the past was highly skeptical of digital currencies, who has now reported that he is working on a set of tokenized assets based on blockchain, which could act as a store of value, even having the potential to serve as substitutes for the US dollar in cash.
Roubini and his team work on a new tokenized dollar
Roubini’s revelation came to light during an interview conducted by the news agency Bloomberg, in which he reported that his company’s team, Roubini Macro Associatesis working hand in hand with Atlas Capital Teama company based in Dubai, and together they develop a tokenized version of the US dollar, with which they propose to address certain problems present in the economy currently affected by inflation problems.
According to Roubini, this new tokenized dollar would be backed by real assets, unlike many other stablecoins that opt for algorithmic models and/or cryptocurrency reserves, indicating that the project will be ready to be used by the end of this year, adding:
“We recognized that the US dollar, as a reserve currency, could be at risk, and we are working to create a new instrument that is effectively a more resilient dollar.”
Among other details, Roubini noted in the interview that the new tokenized dollar will be backed by short-term US Treasury bonds, as well as property, gold, and other valuable assets. Already thinking in the long term, the final reserve package will be made up of real estate investment funds, in addition to other financial products. According to the economist, in this way the asset will be shielded against inflationary problems, highlighting its true value as a reserve asset for both individuals and entities.
The tokenized dollar vs better known assets
Speaking about the asset under development, both Robuini and the team of Capital Atlas They highlighted the value of their proposal compared to what other cryptocurrencies with similar proposals offer, highlighting that it is far from other digital currencies whose support is null.
In this sense, Roubini commented:
“[La mayoría de las criptomonedas] they’re not even active, since they’re not backed by anything, just ‘vaporware’, and they don’t provide revenue or usage or other public services; so they are purely speculative asset bubbles.”
Let us bear in mind that Roubini has had a pessimistic stance towards the main cryptocurrencies to date, which is why he describes them in a derogatory manner and points out that their value does not conform to the more traditional principles that govern the stock markets.
Returning to the tokenized dollar, Roubini reiterates that the project plans to have a greater reach than many other similar projects, which could reach a greater number of people who operate outside the traditional sector. The economist pointed out in the interview that this new asset can offer real value to people, guaranteeing greater security against other local currencies.
Angel Di Matteo version / DailyBitcoin
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