But there could be, right?
It’s just that actually backing your PLNC 1:1 with actual Złoty[0] you can actually retrieve, leaves very little room for the people behind the coin to get rich.
It’s just that actually backing your PLNC 1:1 with actual Złoty[0] you can actually retrieve, leaves very little room for the people behind the coin to get rich.
Also, the government is a highly diversified insurer that can create more the underlying asset it is insurring.
Do they have to? Is there any reason they couldn't hedge that money?
If I wasn’t fully occupied with rsync.net I would love to run some kind of utility exchange/market/bank service …
… and I’m not involved or invested in crypto in any capacity.
The Liquity stablecoin actually works that way, they don't even have an own web app.
Thus a true backed stablecoin where the operators have proper incentives.
And that's how you get sketchy companies in Bermuda holding $100 billion in Schrodinger's assets, as well as other oddities like mining companies holding billions in assets because an ETF holding billions in assets would be illegal.