We have long recognized that in order for cryptocurrency to reach mass adoption, a form of cryptocurrency that has higher price stability than existing cryptocurrencies like BTC and ETH would be needed so that people can use the currency to store funds and engage in commerce without worrying about their monthly salary dropping by 57% between the time they receive it and the time they can use the money to buy products. Unfortunately, we’ve found that the existing stablecoins all have various flaws; Tether is unauditable, Nubits has already once collapsed in price, Seignorage Shares is after three years still just a whitepaper and MakerDAO is an inadequate joke because…. reasons. As a result, we’ve decided to take matters into our own hands, and issue our own officially branded stablecoin, and use this as an opportunity to make another ICO.
Introducing World Trade Francs.
World Trade Francs is a decentralized 4.0 stablecoin based on next-generation blockchain technology. World Trade Francs strives to construct a free trade and economic interaction system, utilizing next-generation blockchain and hypercube tangle technology. The protocol allows each user to freely buy, sell and hold stable tokens. The issuance, circulation, and trading of WTF, though decentralized self-governance, lay the foundation for the distribution and subscription of economic value, thereby empowering content creators as well as forming a decentralized free trade and economic interaction ecosystem. The app partners of WTF protocol include Peiwo, Obike, Gifto, Uplive, with a total of 4 millions users, making WTF a blockchain protocol with the most DAPP users in the world.
World Trade Francs will allow humanity to escape political oppression and achieve true individual self-sovereignty and global free trade, using permissionless global network, and a World Decentral Bank, which will be able to implement Perfect Monetary Policy that can allow the world to live together in harmony, all without any central points of censorship or control. By being decentralized, WTF will combine all benefits of capitalism and socialism with none of the downsides of either, creating a forward-thinking economic model for humanity in the twenty first century. Users will be able to hodl and trade WTF, the stablecoin, and FTW, the corresponding volatile coin that represents something economically equivalent to shares of future revenue from the WTF system, but technically a utility token because governments seem to really care about us falling on that side of the distinction for some reason.
We have already started talking to
sketchy Pacific island nations national governments about integrating use of World Trade Francs as a reserve currency for international agreements, and plan to soon become the first currency to be explicitly endorsed for use in an international treaty. The World Decentral Bank also includes a basic income mechanism where member nations can apply to join and receive a share of WTF issuance on condition that they distribute it to their citizens. The condition for qualifying as a nation is approval from 100,000 internet libertarians, and so we are proud to welcome Sealand, Catalonia, Texas, six provinces of India and China, Nationy McNationFace and Harambe among our initial batch of 1576 member nations. Price stability of the WTF will be ensured via Oracles.
We strive to create a decentralized economy that allows everyone to freely buy, sell and hold stable tokens, without relying on centralized services. The legislative power will be transferred from an opaque centralized authority to transparent codes. Rules and platforms will be entirely transparent and based on faithfully executed smart contracts. By empowering the users, we will transform the economy on a global scale.
Expected price trajectory
The post Announcing World Trade Francs: The Official Ethereum Stablecoin appeared first on Ethereum Blog.