This Cryptocurrency Seems Designed For A Post-State Society
Cointelegraph By Dylan Love's original article for cointelegraph.com reduced by 49%
Saga's SGA digital currency relies on an international reserve asset called Special Drawing Rights, which was introduced by the International Monetary Fund in 1969. These days, one SDR is worth about $1.40 USD, and SGA will be worth the same when it launches. SGA's value can go up or down depending on how many other people are using SGA.
To buy this cryptocurrency is to cause Saga's smart contracts to generate it from scratch. So the monetary value of SGA can change, but the idea is that any change in price happens slowly and sustainably. So SGA is not a stablecoin with a permanently fixed price.
"It's increasingly clear that for a global economy, we need a global currency," said Saga founder Ido Sadeh Man. SGA launches on December 10th and will be available for trading on Liquid.
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Summarised crypto news.