7 ms·

Bad assumption there, Aragon companies will be able to handle tokenized fiat (USD, EUR, etc). Santander is working on a stable coin project to tokenize EUR and

• JorgeGT 10y ago
  Your link talks about a conceptual project that isn't in any way running yet nor has been approved by the National Bank of Spain. How can Aragon companies comply with their INSS obligations today?
  • obsolete_ideas 10y ago
    Please note the central words on this project's website: Unstoppable companies: Create value without borders or intermediaries. In other words, your concerns are not this project's concerns—not even in the slightest; this project probably considers your world view to be not only obsolete, but in need of distruption that is so extreme as to be radically revolutionary. Your "Spain" (and, especially, your "Spanish Social Security Institute") are utterly meaningless in this project's vision of the future.
  • izqui 10y ago
    It is a responsibility of the individual to follow the laws of her jurisdiction. It is a global project, so we won't be working with every local regulatory body. Aragon is creating a framework (as an open source project) for running Blockchain companies. We don't provide legal advice nor services, we don't take any responsibility for a hypothetic bad usage of our software.
    • JorgeGT 10y ago
      Then I don't see why you choose to say "Death to paperwork. Avoid useless intermediaries" in your website if I still have to do all the required paperwork, same as before, plus now I need more useless intermediaries to convert ETH into fiat to pay the taxman, the bookkeeper...
    • vidarh 10y ago
      Then where exactly do you believe people can legally use this?
• monkmartinez 10y ago
  What would the stable coin look like? I mean, we already have 700+[1] "coins." we are way passed the ridiculous stage on that front. [1] - https://en.wikipedia.org/wiki/List_of_cryptocurrencies https://en.wikipedia.org/wiki/List_of_cryptocurrencies
  • izqui 10y ago
    A stable coin is a crypto asset that is backed by a real value. If you own 1 EthUSD, there is a warranty that someone will give you 1 USD for that token
    • mypalmike 10y ago
      This is sarcasm, no?
    • plttn 10y ago
      So a meta-fiat currency?
    • joosters 10y ago
      A real-world warranty, which means you can't rely on it. You might own as many EthUSD tokens as you want but you can never be sure that someone will buy them from you at the 'fixed' price.
  • cslarson 10y ago
    A stable coin is a token that, using some mechanism, is able to hold a stable value. The most prominent group trying to make this work using ethereum, I think, is http://makerdao.com/docs/ http://makerdao.com/docs/.
  • deleted 10y ago
    [deleted]
• joosters 10y ago
  People say 'stable coins' as if it's a simple matter to create them. There have already been several cryptocurrencies that were meant to be locked in value to a real-world currency or commodity. They all fail in the end, and any system relying on them will collapse when the values diverge. You cannot perfectly link a real world item to a digital asset without losing the 'trust-free' nature of cryptocoins. You always end up having to trust someone. And once you do that, you've lost all of the advantages of the digital asset.