The future of Secure currency,not USDT ,not GUST#04Anchor#

in cryptocurrency •  6 years ago 

I will tell you the opinion about secure from a master of economics, Friedrich August von Hayek.You can learn what Secure currency could be holded.

The things anchored by the stable currency are very critical, and definitely should not be dollars. The US dollar as the standard has proved to be destructive to the huge business cycle of the economy. The Fed itself can control or influence the economies of each country to serve itself . The US dollar has strong cyclical fluctuations 。It is not suitable as a 1:1 anchor.
It is most appropriate to prepare a standard system with a set of raw materials as commodities. The economic calculations and accounting calculations of each firm depend on the overall stability of price.The most important of which are widely traded products, including raw materials,food and industrial semi-finished products. At the same time, due to the real-time display of the prices associated with their trading in the market, the price is very sensitive and can be well predicted to fluctuate the overall level of the price. Moreover, since the influence of the amount of money on the raw materials is prior to the consumer goods, it is better to directly use the combination of raw materials as the standard and to regulate the price of the currency to stabilize the price as the standard. Of course, the best state is actually to use the initial factors of production, but it is difficult for land and labor to find effective statistical indicators to calculate the average price, and secondly we choose raw materials.
The value is set by a set of raw materials with a fixed amount , each of which is quoted in other real-time dollar/euro quotations multiplied by the exchange rate and summed to obtain a number in its own token. All we have to do is fix the standard at the beginning and set a range that will float up and down, and then make sure that the amount is stable.
In the selection of the number and type of specific raw material combinations, it is possible to consider the choice according to the regionality, or to select according to the more common general raw materials. It brings value and other differences, which can be something that needs to be tried and iterated. But in the end, the actual type of commodity will be limited to a narrow range and tend to be stable.
And as an anchor, it is not necessary to reserve a large amount of anchors as in the previous government to give public confidence. In the past, the government had a monopoly on currency issuance, and the gold and silver standard could limit the government's additional issuance to avoid inflation. But the current situation is market competition, which means that if you do not achieve the promised price stability, people can choose another currency to use. So ensuring price stability is the key, and stocking the corresponding anchors may not be necessary.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!