Economist and well-known cryptocurrency skeptic Nouriel Roubini has claimed to be working on a “tokenized alternative to the US dollar” that will be more stable.
AT interview Nouriel Roubini told Bloomberg that the work is being done by Dubai-based Atlas Capital Team, of which he is a co-founder. The new token will address growing concerns about the US dollar’s status as the world’s reserve currency. In this case, the token will be backed by real assets.
“We see that the position of the US dollar as a reserve currency may be in jeopardy and we are working on creating a new instrument that, in fact, will be a more reliable dollar,” Roubini said.
The release of a new asset should take place this year. The token will be backed by a basket of short-term US bonds, gold and US real estate in the form of investment trusts.
The product will be offered in the form of a tokenized security. At the same time, Roubini hopes that people who do not have access to the US dollar and other stable currencies will get access to it, and the token will allow them to protect themselves from the fall of local currencies.
Roubini once again confirmed his position as an opponent of cryptocurrencies. He emphasized that cryptocurrencies cannot be considered assets, as they are not backed by anything and have no real use.
“This is just a bubble of purely speculative assets,” concluded the skeptic.
At the beginning of the year, Roubini called on the Salvadoran government to impeach the president of the country in connection with the recognition of bitcoin as a means of payment.
Source: Bits
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