Digital trade coin: towards a more stable digital currency
Author(s)Lipton, Alex; Hardjono, Thomas; Pentland, Alex
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We study the evolution of ideas related to creation of asset-backed currencies over the last 200 years and argue that recent developments related to distributed ledger technologies and blockchains give asset-backed currencies a new lease of life. We propose a practical mechanism combining novel technological breakthroughs with well-established hedging techniques for building an asset-backed transactional oriented cryptocurrency, which we call the digital trade coin (DTC). We show that in its mature state, the DTC can serve as a much-needed counterpoint to fiat reserve currencies of today.
Royal Society Open Science
Lipton, A., Hardjono, T., & Pentland, A. (2018). Digital trade coin: towards a more stable digital currency. Royal Society open science, 5(7), 180155.
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