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Topic: Using colored coins to distribute a token pegged to the USD? (Read 1944 times)

legendary
Activity: 1666
Merit: 1010
he who has the gold makes the rules
Is there a country where a business could be safely set up that sells colored coins/tokens of btc that are pegged to the dollar? Somewhere where they could sell as well as buy back the tokens and having the all funds all backed up in a bank or is such a business always at risk of being seized making the tokens worthless?

isn't this what ripple does essentially?
legendary
Activity: 1400
Merit: 1013
No, there is no country in the world where a traditional business can safely issue a convertible USD token.

In the future the infrastructure will be in place such that a non-traditional, P2P system for doing this can operate.
hero member
Activity: 994
Merit: 507
that sells colored coins/tokens of btc that are pegged to the dollar?
I don't understand, these tokens will be denominated in USD or BTC?
They would be colored coins respresenting a dollar each. The company would buy and sell these tokens. Then others would be able to transact using the blockchain using USD. It would of course all depend on the trust of the company that stores the actual dollars in a bank.
legendary
Activity: 1582
Merit: 1002
that sells colored coins/tokens of btc that are pegged to the dollar?
I don't understand, these tokens will be denominated in USD or BTC?
hero member
Activity: 994
Merit: 507
Is there a country where a business could be safely set up that sells colored coins/tokens of btc that are pegged to the dollar? Somewhere where they could sell as well as buy back the tokens and having the all funds all backed up in a bank or is such a business always at risk of being seized making the tokens worthless?
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