Businesses risk big losses accepting cryptocurrency payments. Do we need a ‘stablecoin’ that holds its value – or government ‘fedcoins’?
Havven is an Australian startup creating a ‘stablecoin’ on the back of a very well-subscribed ICO, raising USD $30,000,000 (closer to AUD $40M). Those funds serve as the surety so that their currency can be exchanged dollar-for-dollar with USD.
We spoke to Havven founder Kain Warwick about what it takes to create a stablecoin – and why people might want to use one.
Tether is the most well-known stablecoin. But it’s been devilishly hard to find an auditor willing to say Tether has an adequate store of USD:
Ecuador had a wild ride into and then out of a ‘fedcoin’:
But will stablecoins really work? MIT Tech Review says ‘um…’