Cardano's IOHK_Charles explains how crypto can 'get nation states off of fiat currencies' Cardano $ADA
It is the concept of an algorithmic stablecoin that can remove the control nation states have over the issuance and circulation of fiat currencies. The adoption of this concept looks inevitable to Hoskinson, as it is equal to a"gold standard" in the digital age.
To create healthy collateral backing, IOG CEO recommends using Bitcoin and Cardano as they are deflationary. BTC and ADA liquidity pools will protect stablecoins from losing value.As such, overcollateralized stablecoins backed by Bitcoin and Cardano can replace national fiat currencies, Hoskinson foresees.
While some of his followers appreciated the idea, sceptics recalled that the design of the collapsed TerraUSD stablecoin looked just the same.
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