iFIAT is one of the most interesting elements of Agate. It uses decentralised blockchain technology (Agate blockchain) to resolve many of the fundamental issues in the cryptoeconomy in real time.

Fiat-pegged cryptocurrency works like a fiat credit or stable coin and is called “iFiat.” All iFiat will initially be issued on Agate blockchain, so they exist as a cryptocurrency token. Each iFiat unit issued into circulation is backed on a one-to-one ratio (i.e., one iFiat iUSD is one US dollar) by the corresponding fiat currency unit.

This has a lot of advantages over other fiat-pegged cryptocurrencies.