The CBDSC offers a free lifetime licence for zero volatility and more flexibility than current Central Bank Digital Currency (CBDC) alternatives for Governments
SAN FRANCISCO, Sept. 29, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) Atom Foundation (atom.foundation), which focuses on liquidity solutions on the blockchain, today announced that it is launching the not-for-profit first-ever Central Bank Distributed Secure Coin (CBDSC). CBDSC is an improvement over current Central Bank Digital Currency (CBDC) projects as it removes volatility while adding flexibility to governments in executing their economic policy. The CBDSC is a new, patent-pending stablecoin alternative technology that will also allow governments and central banks to maintain a unique monetary policy on top of existing CBDCs.
“All the current CBDC projects are not secure and have zero protection against volatility, price manipulation, hacking, and loss of funds,” said Yoda Regev, CEO at Atom Foundation. “Our CBDSC, when compared to stablecoin or current CBDC solutions, is equivalent to comparing smartphones and the telegraph and will allow issuers more leeway to directly implement economic policy on the blockchain, and guard against currency volatility and mismatch.”
CBDSC will offer a lifetime license at no cost, a threefold improvement over current CBDC projects:
- Enhanced Protection. Current CBDCs pegged to a fiat currency are exposed to unexpected volatility due to trading or manipulation, and users holding such funds can lose these funds via hacking or loss of wallet access. The CBDSC includes a patent-pending solution with a built-in fluctuation freeze that removes any possibility of volatility, and drives value by pegging to a currency index or other pricing source which is unable to be deviated from, regardless of market volatility. On top of that the CBDSC has a unique regulation layer that allows funds recovering, privacy-based zero-knowledge proof, and bad actors precaution.
- Greater Taxation Control. Besides the ability to freeze funds through the CBDSC layer, there is also the ability to monitor and tax income and finer controls like omitting funds that have been gifted to friends or family.
- Increased Flexibility. The CBDSC regulation layer protocol allows issuers to control the CBDC according to the economic policy the government sets forth and even dealing with unknown black swan events. Unlike current CBDC’s, this is possible even after the digital currency is distributed to the public. The flexibility of the regulation layer protects the ability to update the CBDC governance policy without the need to do a recall or reissuance of a new digital currency version merely to extend functionality or execute new policy.
For more information about Atom Foundation and the new CBDSC, please visit cbdc.science.
About Atom Foundation
Atom Foundation is a DeFi liquidity ecosystem powered by proprietary protocols designed to underline IDOs, Auctions, NFT marketplace, multiple swaps, and more. Atom Foundation’s main goal is to improve liquidity access to digital and traditional illiquid assets. The foundation’s ecosystem supports solutions for decentralized claimless insurance, social currencies, real estate, venture capital loans, cross-chain networks, blockchain, and other financial instruments that position the foundation at the forefront of the future of finance.
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