As many of you have probably heard over and over, cryptocurrencies have no intrinsic value. You likely reply that neither does fiat currency like the USD. The conversation may turn to how gold used to support currency. And on and on and on....
I tend to look at cryptos, especially altcoins at the value they provide. (No, not "it uses blockchain"!) More what is the technology behind it, the purpose, the team, etc.
Doing research I came across a recent effort by MIT. You may have heard it, but it basically tries to build a real, obvious intrinsic value into the cryptocurrency.
"For the past three years, our lab at the Massachusetts Institute of Technology (MIT) has worked on creating a new global currency, Digital Tradecoin, that combines the most recent technologies with the very old idea of a gold coin having intrinsic value. The currency will be backed by alliances of diverse players and anchored to a basket of real-world assets such as crops, energy and minerals, or perhaps by a portfolio of national currencies and bonds. These traits help stabilize its value and make it easier for the public to trust it. After all, a currency requires both efficient trade systems and trust."
I do really like the idea of stabilized prices, the democratization of the process and the backing of real products. What do you think?
Here is the link for full details"
https://www.marketwatch.com/story/mit-led-team-is-aiming-to-build-a-better-cryptocurrency-2018-02-13
