Good question. Although we initially focus on the Philippines with a particular use-case, ROKS is meant to be used anywhere in the world. We chose to peg it to USD at the moment because USD is the most widely-accepted and most stable fiat currency in the world.

Why not peg it to a "basket of fiat currencies", like Facebook's Libra? Legally, that would be a thousand times more complicated. In the end, each Libra would still have to have a value with respect to any one currency in the basket. Facebook claims that pegging to several fiat currencies and not just one currency makes Libra more stable than most other stablecoins, but we doubt it. It depends on how they will legally bind themselves to the value of the whole basket.