Comment Re:the new digital token will be pegged to the dol (Score 1) 40
As best I can gather the point of a stablecoin is to obtain the benefits of cryptocurrency* while removing the speculative instability that regular cryptocurrencies attract. As people buy into the coin, the coin manager theoretically stores the dollars as backing**.
* The main, intended benefit being the ability to make online payments without being beholden to credit card companies, governments or other large, financial gatekeepers. Hmmm...
** Only a complete cynic would suggest this sounds like a way to get people's real money to invest without needing to pay them a share of the returns.