Charles Hoskinson, CEO and founder of IOG, was satisfied with the concept of algorithmic stable currency and ensured that it would damage the state's monopoly on fiat currency.
Hoskinson shares his opinion on the stable currency encouraged by the algorithm on Twitter, which refers to the digital currency related to the legal interest rate through the design based on the professional technology of the blockchain smart contract.
Unlike the traditional "centralized" stable currency, the quantity of collateral and the intermediate balance of stable currency supply will not be manipulated by the stable currency issuer. In turn, it depends on the complicated special tools for chain stores.
This is an algorithm to stabilize the concept of currency, which can eliminate the state's manipulation of legal tender sales and circulation. Hoskinson believes that the selection of this concept is inevitable, because it is equivalent to the "diagnostic indicators" in the digital age.
In order to create a healthy life mortgage, IOGCEO had better use BTC (BTC) and Cardano (ADA), because it is deflationary. BTC and ADA liquidity pools will maintain stable currencies without damaging their value in use.
Hoskinson estimated that the excessive pledged stable currency encouraged by BTC (BTC) and Cardano (ADA) could replace the national legal tender.
Although some of his followers praised the idea, skeptics recalled that the design of the collapsed TerraUSD (UST) stable coin looked identical.
As mentioned above, Cardano's excessive pledged stable currency Djed will be launched on the main network in January 2023. This will configure your own payment platform, Djed Pay.
Another Cardano elite team EMURGO cooperated with Anzens to launch an intermediate regulatory stable currency USDA.