A supra-national, decentralized, committee overseeing a “global digital currency basket” consisting of Bitcoin, Ether, and ACC is now being funded.
The year 2017 witnessed what may qualify as the fastest acceptance in history of a brand new technology — the Blockchain, or the use of an open-source, distributed, ledger to record, with the ability to record and manage transactions more efficiently and more trustfully than current “middleman” institutions and entities.
Bitcoin, the world’s first & best-known Blockchain-based coin — and presently immune from the banking confabulations that have so successfully “managed” the prices of frisky alternative assets like gold and silver — took a moonshot. And, even now, is still in high orbit. This in turn, sparked other so-called “alt-coins,” or tokens, also based on the same underlying Blockchain tech.
It is estimated that some 1600 new coins/tokens have been released so far, and possibly another 1000 are due to be released in the next few months. While all cannot possibly be successful at their stated objectives, even skeptics grudgingly admit that at least a handful will inevitably change the world as we know it. The end result is that the public is, understandably, clamoring for an interchange mechanism between traditional currencies and these new digital counterparts.
The solution? The new A-SDR or “digital currency basket,” which will operate under the control of a decentralized global management body: – the “International Digital Assets Exchange Council” ( IDAXC). IDAXC will supervise and facilitate the exchange of digital tokens based on a basket of three key, well-known coins or tokens: – Bitcoin, Ether, and ACCoin. Of the mix, Bitcoin and Ether are perhaps the better-known.
ACCoin however, started its own internal development over a decade ago, well before bitcoin was officially launched. It was based on a unique model, wherein tokens could hold rights to underlying assets, (both tangible, like land, and intangible, like financial paper); thus it was effectively backed by something quantifiable and of substance. This is a very important distinction because even today Bitcoin, notwithstanding its lofty valuation, is backed by nothing.
The visionaries behind ACCoin understood from the beginning, that to achieve their goal they would need more than a simple coin or token, they would need an entire Eco-System. Not only to capture and monitor the underlying asset, but also to allow future movement of that asset (into and out of the digital universe); and even to anticipate the re-conversion of the coin back to the original asset at the behest of the holder. They also foresaw the problem of moving digital tokens to and from the banking (fiat currency) universe, and planned accordingly for that too.
By anchoring itself to ACC ( ACCoin), BTC and ETH, the A-SDR Fund aims to become the premier global mechanism for digital asset distribution and settlement. This in turn distinguishes ACCoin as the first standard digital currency, with the capability of global digital asset Exchange & Settlement. This additionally permits the creation and function of the “Exchange Rate Index” within the A-SDR Digital currency basket. A-SDR, in this way, establishes for the first time a defined-value Exchange & Settlement standard linked to traditional (“fiat”) financial digital tokens, to ultimately become a “true bridge” to traditional financial systems. Over 100 banks worldwide have so far launched a digital asset Exchange & Settlement system, constituting the beginnings of a digital asset Exchange & Settlement network that will be global in scope.
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