Quote from: tasoncool on September 03, 2019, 12:33:05 PM

Quote from: rf786 on September 02, 2019, 12:17:05 PM

I'm interested what is your way to become "medium of exchange". How do you see that and what plan do you have to achieve this goal?

I can't understand this point too. Does it mean you want to make your tokens easily reedemed to fiat or that you will work with many different exchanges?

Initially, we will peg to USD, and the simple automaton by which we keep the peg can be deemed "decentralized". However, the claim is pointless because we are pegging to a centralized fiat. When fiat money starts to inflate (right now inflation is nowhere in sight), then the peg can be abandoned and ROKS can be stabilized without reference to any fiat. It will be stabilized by measuring its purchasing power across a basket of commodities.

We envision a world in which, instead of fiat money specific to each country, there will be many stablecoins, each specialized to its own application but distributable and acceptable everywhere. Some stablecoins will necessarily compete with each other. Competition is always good for the users; however, instead of competing on price, stablecoins / stabletokens will compete on overall stability even in the face of economic storms.

Fiat money will always be with us, but there is a strong possibility that fiat money dominance is going to wane. There is a very good chance that stablecoins will win over fiat and it's only a question of when. The fiat - stablecoin "flippening" can happen quickly if it is unopposed, but if governments unite to oppose it, then it can take a long time. Countries like the Philippines that welcome cryptocurrencies and stablecoins in particular stand to gain. Governments should not oppose stablecoins because they can still collect taxes in this future world. Our payment system has built-in code that automates the collection of taxes. This makes taxes highly visible to all.