
Balance – hold, trade, and use a basket of cryptoassets as cash - omikronn
https://medium.com/balance-now/balance-introduces-a-novel-way-to-buy-trade-and-use-a-diversified-basket-of-cryptoassets-as-cash-de86b84ff846
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omikronn
A few more details around why we're building this. The last 3 years have shown
that cryptocurrencies can successfully work for storing and exchanging value
across the world. Yet despite increased consumer interest as crypto is
breaking into early majority stream awareness, merchant integration has been
severely lagging behind primarily due to high volatility and transaction fees.
Most attempts at lowering volatility and creating a viable stablecoin, whether
fiat or crypto-backed, with a centralized or decentralized issuance model, or
based on seigniorage shares, have so far been unfruitful. We believe the
future of digital money isn't using a single currency, but rather holding,
trading, and using a diversified basket of cryptoassets. Buyers and sellers
hold diversified, personalized baskets of cryptoassets which get moved in and
out of an extremely high velocity medium of exchange at transaction time. For
consumers, this eliminates the need to distinguish between investment and
chequing accounts, enabling them to use their diversified portfolios as cash.
For merchants, this enables them to mitigate volatility as much as desired,
while bringing high velocity with virtually zero transaction fees. This is a
new approach that hasn't been tried yet. Let us know what you think.

