2022-07-13

What

USD+ : Introducing the most trustworthy and adoption ready US Dollar Stablecoin- Stephen Phillips

Abstract

Stablecoins continue to play a pivotal role in bridging traditional finance and cryptocurrency markets. For fiat-collateralized stablecoins, they seek to maintain a 1:1 backing ratio of fiat currency, such as the US dollar, and purport to provide a simple mechanism for markets to reliably convert between units of fiat currency and units of stablecoin.

With the market capitalization of US dollar stablecoins surpassing 100 billion in 2021, markets and regulators continue to express concerns with risky or opaque backing given the potential negative spillovers to the broader financial system. Given that all stablecoins as financial products are not created equally, investors who are interested in leveraging stablecoins face the challenge of navigating this complex technical landscape to assess risk associated with capital efficiency, price stability (collateralization) and decentralization.

We introduce the Fluent network and protocol for USD+, a flexible two tier architecture that addresses market and regulatory concerns with a first of its kind, decentralized, federated reserve stablecoin ecosystem; offering real-time reserve transparency and decentralized custodianship of reserves by a federation of licensed financial institutions within a web3-enabled community governance framework.

Where

Online

https://zoom.us/my/hyperledger.community.backup?pwd=dkJKdHRlc3dNZEdKR1JYdW40R2pDUT09=

When

13th July 2022 | 10 am EDT

Key Q&A topics

The suitability of Corda for the Contractual KYCed data and the minting and burning of assets vs. (say) Hyperledger Fabric
Narrow Bank vs. Bank deposits (the definition of reserve)
Who are the banks in the federation?
Confidentiality vs pseudonymity, is true confidentiality possible in USD+ and the Fluent Protocol?
Is USD+ or similar products using Fluent contemplating having CBDCs as pegged assets, or for that matter other fiat (starting with EUR, JPY, GBP, RMB, AUD, CAD etc.) and their digital equivalents?