New Kids On the Blockchain, content creators who live and breathe blockchain, recently interviewed Andrew Sarega, Anchor’s VP of Foreign Relations. The episode can be found on their official YouTube channel.
Andrew began by talking a bit about Anchor and its mission. He mentioned what Anchor is trying to do by pegging its stablecoin to a proprietary algorithm. In contrast to traditional fiat currencies, as well as some other cryptocurrencies, Anchor is pushing the limits of the crypto world by creating an intrinsically stable and predictable financial index that reflects the global GDP.
By not using a peg of value that’s based on just a fraction of the global economy, Anchor holds an advantage in the crypto world. In essence, it changes how people view the stability of the cryptocurrency market. Its token will always be more or less equal to the worth of the global economy.
Leaving the world a much better place for the next generation
Of course, keeping the value stable requires extensive stabilizers and plans B, C, D, etc. That’s why Anchor employs a two-token system (Anchor and Dock tokens). The Dock token works as a corrective measure. What’s more, it’s an incentive for potential users, as it’s redeemable for Anchor tokens.
Reflecting on Tether and its failure to deliver on its promises, Andrew maintains that Tether was a good starting point. However, Anchor is looking into the future and learning from mistakes that have marked the blockchain world. Of course, time will tell if these endeavors will change the world. Right now, Anchor is on the right path, with its pre-sale coming in the third quarter.
To find out more about Anchor, how it works, and why its stablecoin is a mighty alternative to traditional fiats, watch the entire episode here.