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The A-SDR international Digital Currency Fund looks to be what the SDR is for economic superpowers: an index from which all countries can rely on.
Like the SDR, the A-SDSR will hold a basket of cryptocurrencies in order to capture the growth of the general cryptocurrency market, and not just the growth of a singular coin.
Another similarity the two shares is their purpose: The SDR is used by countries to exchange internationally- and supplement liquidity of standard reserve currencies. A-SDR’s main purpose will be to help liquidity as well, but between traditional currencies and their digital counterpart by acting as the financial bridge between the two.
With an estimated 1600 coins/tokens released to date, and with a projected additional 1000 tokens or so to be added in the following months, the problem of exchanging USD or Euros to BTC or any other crypto will only get bigger.
The A-SDR Fund will be overseen by the International Digital Assets Exchange Council (IDAXC), which will manage the exchanging of cryptocurrencies based on a basket consisting of Bitcoin, Ethereum and ACCoin.
ACCoin underwent development over a decade ago, before Satoshi Nakomoto released the Bitcoin whitepaper and started an online revolution.
Tokens created on ACCoin’s network can be tied to underlying assets, such as land or financial documents, giving them an intrinsic value.
Unlike Bitcoin and Ethereum, whose values are mostly speculative, ACCoin allows tokens that can be worth something tangible, as they are backed by the underlying asset they represent.
Being tied to crypto allows ACCoin to be the first standard digital currency, with the fund aiming to be the first choice when it comes to digital asset distribution and settlement.
This in turn allows a platform of global digital exchange and asset settlement, making things that were previously hard to trade, such as real estate or precious metals, as easy as sending an email address.
By digitally representing things, costs for transportation and ownership is reduced. Records could be recorded online for easy verification and audibility, and owners looking to gain exposure in real estate or precious metals (or whatever it may be) don’t have to worry about protecting an asset, but rather securing tokens until they redeem it.
ACCoin was created by its founders to solve the problem they foresaw between fiat and cryptocurrencies. By not focusing on one coin or token, but rather an entire ecosystem of them, ACCoin is able to represent an asset, monitor it digitally, and even redeem tokens back into the underlying asset at the end of its life cycle.
Users are able to participate in an ICO they are currently hosting, with one BTC worth 14,000 ACC and 1 ETH being worth 420 of the same token. So far, they have raised almost 23 Bitcoin and 62 Ethereum, a combined value of around $400,000.
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The post ACCoin: Creates a Cryptocurrency Index for the World appeared first on Crypto Currency Online.
source https://cryptocurrencyonline.co/accoin-creates-a-cryptocurrency-index-for-the-world/
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