This story at Motherboard is a fairly long read, but an interesting one, and one that the editor does not seem too happy with. One of the biggest reasons that people do not use cryptocurrencies widely is the fact that fluctuating values make it a volatile investment at the least, and something we would not want “in our pocket” to wind up worthless overnight at the most. Intangible Labs has raised $133M in order to establish its stable coin with an “algorithmic central bank,” which is supposed to keep its value static. Well, at least these guys are not bilking folks out of cash while naming their currency after mythical animals and hoping to cash in on illegal gambling. Not that that would ever happen.



According to Byrne, a coin that can hold a $1 USD value would eliminate the risk inherent in cryptocurrencies and accelerate their adoption. Then, nobody has to worry about their money suddenly becoming worthless, or negotiating new payments to clients if its value unexpectedly goes up.

After a brief survey of some of the most popular stable coin projects out there, it’s clear that for some people, making cryptocurrency usable means implementing a system of control that looks a lot like what banks do, or did in the past. If the point of cryptocurrencies is to resist any sort of central financial administration, then stable coins miss it entirely.

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Source: [H]ardOCP – Intangible Labs Focuses on Stable Cryptocurrency