is it possible to create an Ideal Non-Inflated money?

avikz

legendary

Activity: 3080

Merit: 1500

Quote

What is your opinion on the new Japanese stablecoin? Do you think government stablecoins have a chance?

Why not! That's the reason why Japan is trying to prohibit the use of any other stablecoin because they understand the competition it may have to face when they will launch their own CBDC.

I am personally not against the CBDC concept. From an administrative perspective, it makes a lot of sense! So no wonder every country is now exploring the possibility to create their own CBDCs. But that won't be non- inflationary! In an ideal world, non-inflationary currency can't exist!

aces777

sr. member

Activity: 686

Merit: 250

It's a shame Japan restricts stablecoin usage. I didn't know they were working on their own, but it seems pretty good to have a ''government backed'' stablecoin for the global community, even if most people can't convert them to yen directly, they can sell them to Japanese organizations that could, allowing people to use a stableYen in smart contracts.

As for Inflation free stablecoin, I doubt it, at least not with risk. You'd have to back it with safe net real appreciating assets, which just isn't without risk. Someone could make one I guess, but it will probably still go down in value over the years. Then again, someone could also create a stablecoin that slowly increases slightly in value over the years, also with its risk, but if they're lucky, it can go up each year, as long as whatever is backing them is going up more.

MaxReserveum

copper member

Activity: 55

Merit: 0

We are an independent Reserveum group. We want to find out if it is possible to create an ideal non-inflationary currency. Right now we are discussing the flaws of existing stablecoins and would like to hear your opinions and ideas.

Today we are discussing: Japan is Discussing a Law on Restricted Stableco in Emissions

The Financial Services Agency in Japan (FSA) announced to have started working on a project to restrict stablecoin issuing by banks and payments services providers. Nikkei Asia shared this news with a reference to reliable sources.

The initiative is directly tied to the launching of a detailed project of digital yen. The Circle company announced launching a token tied down to yen back in November. Other stablecoins are seen as competitives to the digital yen, so they are going to see harsh restrictions.

The FSA project will also apply to digital wallets operators. Just as the stablecoin issuers, they will have to identify their users' personal data and share the information on suspicious transactions to prevent money laundering.

Stablecoin issuers that do not comply with the new FSA rules will no longer be allowed to continue working in Japan. One of such companies is Tether issuer.
The digital yen launch in Japan is planned for the end of 2022. The project is run by a committee of 74 companies each of which took part in testing the new government cryptocurrency.

Last week the Minister for Economic Security in Japan Takayuki Kobayashi called for rushing the launch of the digital yen since China is already gone very far down this road.

What is your opinion on the new Japanese stablecoin? Do you think government stablecoins have a chance?

Topic: is it possible to create an Ideal Non-Inflated money? (Read 36 times)