And how is it supposed to work?
Could you please outline the economic model it is based on? You don't need to delve into technical details, just give us a general outlook from an economic point of view. To give you a lead, please explain how it stands against modern fiat currencies which feature a built-in feedback loop that allows them to automatically readjust to the monetary needs of the underlying economy. Fiat is unbeatable in this regard, and no algo-based cryptocurrency could come close
You are jumping the gun with this question. I’m going to write a large post devoted solely to the issuance model and the supply control. It is complicated and cannot be outlined without explaining some technical features of the platform.
As far as I understand, what you are talking about is the ability to maintain stable prices (or it’s more correct to say stably inflating prices) in the CB-controlled economies by expanding or contracting the money supply according to the fluctuations of the demand. It cannot be matched simply because it’s done manually, while we cannot afford it in a decentralized blockchain system. I can propose an algorithm, however, that serve roughly the same goal, at the same time fully maintaining decentralization and independence. I cannot claim that it’s equally efficient until it’s tested in practice, but at least, it’s something to start with.
Besides, we do not need to surpass conventional fiat infrastructure in all aspects. We can build a system that will surpass fiat from one point of view, but will be inferior from another. We just need it to be competitive overall.