Social Proof-of-Work: Asia Reserve Currency Coin and Its Fight Against Corruption

A Southeast Asian stablecoin project aims to neuter corruption. It places an incentive on public reporting of problems. The International Blockchain Monetary Reserve calls the Asia Reserve Currency Coin (ARCC) a “macroeconomic stablecoin.” While it has a seemingly complicated structure, the premise is simple enough: as productivity and GDP increase as a result of its effects, the ARCC will increase in value. The token’s economy will have two parts. One is a licensed hedge fund that will manage investments and holdings to increase and preserve the liquidity of ARCC. The other is the ARCC token economy itself, which will be

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Kashkari: Federal Reserve Doesn’t Need to Protect Investors

Another Federal Reserve president has spoken out on interest rates. Neel Kashkari says there is no need for interest rate hikes right now but that the US Federal Reserve does not exist to protect investors. Though the stock markets are exhibiting “nervousness,” says Kashkari, investors have to figure out what to do next. We are

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Anyone calling Proof of Keys a “bank run” is confusing banks – who give loans and are fractional reserve by nature – to exchanges and wallets which make money on trade and transfer fees and should always be 100% solvent.

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