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RE: UVD: A solution to volatility

in #eosio7 years ago

Thanks for taking the time to study and comment this community project. UVD is not a store of value. It is a tool to establish value without using a currency. Once the value of a transaction is established in UVD (e.g. defining a smart contract between two parties), it can be converted on the fly in any currency at any time by the contract (e.g. when a product is delivered), without being influenced by market volatility. To thrive in a blockchain economy, one has to undo its FIAT beliefs (debt-based) and start to imagine a new value-based economy. Humans systematically use "out of thin air" systems of measurement (e.g. perceived temperature vs reading by a thermometer) to discuss and evaluate subjective perceptions. Value is a subjective measure, even if you are used to transact with currencies or tokens (see note 7). The trick here is to detach the value measurement from the token/currency objective attributes to create a purely subjective and unified tool. I will try to sponsor a proof of concept on EOS testnet and keep you posted. By using the smart contract, it will be easier to grasp UVD as a tool (not a currency).