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Economist Nouriel Roubini has known as Bitcoin “the mom of all bubbles” and crypto “the most important legal heist in human historical past.”
And now he is launching a token. Additionally, the mission’s web site manages to say buzzwords you’d count on from a West Coast startup founder — AI, ML, RWAs, and DeFi — however, not for somebody who, as lately as final 12 months, known as crypto a “collapsing Ponzi scheme.”
Technical particulars are scarce, however this is not code for a digital, web2 funding contract both. It is an precise blockchain-based stablecoin, in keeping with the mission’s website.
“Enabled by Blockchain”
The economist generally known as “Dr. Doom” is the co-founder and Chief economist behind Atlas Capital, which describes itself as a “FinTech firm, designing technology-driven options addressing macro, geopolitical and local weather dangers.”
The mission is “enabled by AI, ML, Local weather Expertise and Blockchain.”
The Atlas Local weather Token
The Atlas Local weather Token is a stablecoin that can be pegged to a “portfolio of liquid real-world belongings—climate-resilient REITs, strategic commodities, inflation-hedged sovereign bonds, and gold,” in keeping with the web site. It is going to “combine tangible, regulated secure haven belongings with TradFi and DeFi merchandise.”
ACT goals to be a “steady complementary hedge to US greenback devices,” in addition to a “digital retailer of worth and, over time, technique of cost to weak communities.”
ETF Launch
Roubini will get the complete crypto journey in a single mission: From launching a stablecoin, to onboarding RWAs and even attempting to launch an ETF. Atlas has developed the Atlas Roubini Macro Navigator Index and is planning to subject an trade traded fund tied to it in Q1 2024.
“The agency is presently in lively talks with top-tier ETF issuers and distributors for this launch,” the web site says.
With the ETF and token, Atlas goals to make its local weather funding technique out there to “on a regular basis buyers on low-cost, liquid phrases.”
However purchaser beware. There are some nay-sayers on the market argue that “the promise to remedy the world’s ills by way of ‘decentralization’ was only a ruse to separate retail buyers from their hard-earned actual cash.”
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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