Billionaire Peter Thiel, is working with Coinbase and several projects in Silicon valley, was among the supported new stablon Reserve. Recently the creators of token raised $5 million in the first round of fundraising, which was attended by more than 40 foundations, groups and business angels, according to CCN.
On the development stablon tied to the U.S. dollar at a 1:1 ratio, has a team of 20 professionals, including veterans of Google and OpenAI and counselling is provided by a group of employees of Patomak Global Advisors, headed by a former employee of the Commission on securities and exchange Commission (SEC) Paul Atkins.
The aim of the project team members called the competition with the Fiat currencies fail. They call the 16 countries where a rapid process of inflation causes significant devaluation of the national currency and does not allow people to save money.
The number of existing tablconv on the market is quite high. In the first place by popularity project Tether. However, skeptics believe that the token Tether does not fully provided with Fiat currency. Stabilin-beginner TrueUSD quickly strengthens as its competitor. Also in this market are available eUSD from Havven and some other “stable of coins.”
As for the token Reserve, its creators promise that it will be “more than stableking”. The developers describe the Reserve as a complex open crypto-currency “relatively stable” from the point of view of purchasing power and limited private.
Some time before running the token will work on open-source, decentralized Protocol and smart contract Vault. The project team describes the token Reserve as a decentralized, however, bears a hybrid nature: it has both external and self-generated software. In this case, the collateral is the combination of the share Reserve that performs the same function as the assignment of the so-called Signorini a share Basis and the Carbon (linked to Fiat cryptocurrency that does not require collateral in other assets) and external cryptocurrency assets.
However, this method has incurred serious criticism from the user community, as cryptocurrency asset to secure stablein, by its very nature volatile, and to ensure the requires a lot of money — often two or three times more than the amount of the market capitalization of the coin. While the project Reserve has not released all the technical details, and it remains to be seen whether his team can find a solution to this problem in a dynamically developing sector of cryptocurrency technologies.