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Cryptocurrency retailer launch NZ dollar-backed stablecoin (www.rnz.co.nz)

submitted 11 months ago by Ilovethebomb to c/offtopic

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I'm not intimately familiar with how crypto works, can anyone explain how this is likely to fall apart? The article is a bit light on detail.

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[–] jet@hackertalks.com 1 points 10 months ago

It's odd we never see any of these stablecoin 100% backed ventures as non-profit organizations with open ledgers and open audits.

You would think it would make sense for the large players to get together and sponsor the creation of these non-profit open holding organizations to allow them to link their digital trading to Fiat currencies.