Why It's so Hard to Keep Stablecoins Stable
b"Rune Christensen of MakerDAO and Philip Rosedale, founder of Second Life and High Fidelity, discuss why stablecoins are called crypto's holy grail, why they may be what's necessary for mainstream adoption, and all the ways a stablecoin can be constructed. Philip brings in his experience with Second Life's Linden dollars, often called the first true virtual currency, to describe how it was constructed and how he's planning to disseminate the cryptocurrency of his new virtual world, High Fidelity. Plus, we talk about why a digital USD wouldn't be a threat to stablecoins and whether collateralized stablecoins resemble fractional reserve banking or not.\\nMaker DAO: https://makerdao.com/\\nHigh Fidelity: https://highfidelity.com/\\nHFC: https://docs.highfidelity.com/high-fidelity-commerce/basics/hfc\\nMore info on Linden dollars: https://en.wikipedia.org/wiki/Economy_of_Second_Life\\nThe Hacker Noon post by Haseeb Qureshi: https://hackernoon.com/stablecoins-designing-a-price-stable-cryptocurrency-6bf24e2689e5\\nIMF SDRs: http://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR\\nEpisode with Bill Tai: http://unchainedpodcast.co/maitai-globals-bill-tai-on-why-blockchain-is-the-6th-wave-of-technology\\nVitalik's post on collateralized debt obligations for issuer-backed tokens: https://ethresear.ch/t/collateralized-debt-obligations-for-issuer-backed-tokens/525\\nOther stablecoins:\\nTether: https://tether.to/\\nBasecoin: http://www.getbasecoin.com/\\nHavven: https://havven.io/\\nLearn more about your ad choices. Visit megaphone.fm/adchoices"