It is apparent that Billions of people in the world don't have a safe place in which they can keep their money. Most banks has failed the integrity check and cannot be trusted.
We have seen some corrupt Government finding it difficult in maintaining stable value of their currencies. There are a lot of projects in cryptocurrencies both centralized and decentralized coins which were pegged with US Dollar to tackle this problem.
The major problem with the existing fiat money is that their existing currencies are not well managed which has made them to suffered from disorganization and corruption which makes their currencies to lose value at an alarming rate. Such countries includes Venezuela, South Sudan, Dem. Republic of the Congo, Libya, Sudan, Syria, Yemen etc. These troubled currencies are associated with civil war, economic sanctions, hyperinflation
The Reserve project is aiming to solve this problem with a stable decentrized currency. The team members are straightfoward driven and has come to conclusion in building digital currency that the world will get use to like real money. The dedicaton of the team members is very strong and they are intrinsically motivated and energized by their contribution which might include translating complex incentive systems into code, olving fundamental economic puzzles, growing the network of partners to attack the problem together. The based their decion on evidence and reason
Over the past 6 years, Reserve has been building multidisciplinary team that are suited to attack ambitious and complicated problems. Some Government intentionally inflate their currency to pay up debts which will generally hurt the citizens. This is what lead to the creation of Reserve Protocol which is primary aim is to develop a universal store of value where everyone's money should be secured. They are solving this problem with a stable and decentralize currency which cannot be tampered with any Government because it is distributed globally without anybody be in control of it.
The Reserve project is backed by Peter Thiel, Coinbase and 40 OthersThe Reserved Project has received tremendous backing from Coinbase, Peter Thiel, and 40 Others according to this
report. Reserve consider that a viable and stable cryptocurrency price will provided solution for countries with high inflation. While the existing cryptocurrency can do the same because of their decentralized nature which kicks out Government intervention but the volatility in price limit their scope from serving most retail uses. With the introduction of stable decentralized currency that cannot be control by any Government, Reserve is providing the solution.
The Reserve ProtocolThe Reserve Protocol is design in a way that make it possible to be implemented on top of any smart contract platform, or on the Reserve Chain itself. As at moment, the protocol is being developed on the Ethereum Network but nonetheless, they will ensure interoperability of the Reserve token across other smart contract platforms. The first phase of the production of the Reserve Protocol will contain fiatcoin that is substantially centralized and in the future, each protocol will be migrated to on-chain which will eliminate the control from the founding members and become fully decentralized.
The three planned phases of the Reserve Network are
- The centralized phase: This are backed by the US Dollar and are in custody of a trust company
- The decentralized phase: This is backed by a changing basket of assets in a decentralized way, but at all cost,it will still be stabilized in price with respect to the US dollar.
- The independent phase: At thsi period, the Reserve will no longer be paired by US Dollar. The intention of this is to stabilizing the purchase power regardless of the fluctuations in the value of the Dollar.
RESERVE PARTNER WITH HUOBIHuobi is one of the best cryptocurrency in the world today and Reserve is partnering for their third official Huobi Prime. Following this, Reserve token is listed on the 22nd of May on their exchange paring with BTC, Ethereum and HT (Huobi native token). Official announcement from Huobi can be found
here.
The next phase for Reserve is to launch crypto-fiat payments in Venezuela in the near future. It will be launched first on the Andriod App via the Google Play Store, which will enable individual and business entity to switch back and forth from local fiat currency to Reserve tokenized Dolla i.e the Reserve Dolla (RSD)
How does Reserve Stablecoin stay stable? Check out this diagram.Reserve Current InvestorsTop angel investors from Silicon Valley and renowned prolific fund in crypto are behind Reserve Protocol. They physically participated in the Reserve Project and have shaped the trajectory of Reserve as the core team of Reserve will. Have a look at some of them below:
CoinBase Ventures
Coinbase is a digital currency exchange headquartered in San Francisco and originally incubated by YCombinator. Coinbase Ventures is an early stage venture fund, focused on investing in blockchain related companies.
Sam Altman
Sam is the president of YCombinator, co-founder and co-chairman at OpenAI, and a prominent angel investor. He has invested in Airbnb, Stripe, Reddit, Asana, Pinterest, Zenefits, Instacart, Optimizely, Change.org, among others.
Peter Thiel
Peter is a co-founder of PayPal, Palantir Technologies, and Founders Fund. He founded and funds the Thiel Foundation, which aims to further breakthrough technologies and improve humanitys long-term future.
Crypto Lotus
Crypto Lotus is a cryptocurrency hedge fund based in the San Francisco bay area, founded by fellow members of the Effective Altruism movement who originally educated Nevin about bitcoin back in 2011.
Refactor Capital
Refactor is an early-stage venture capital firm that invests in founders solving fundamental human problems. They have invested in dozens of biotechnology and public health startups.
Semyon Dukach
Semyon is managing partner at One Way Ventures and the former managing director of Techstars. He is an angel investor in over 100 start-ups and led one of the MIT blackjack teams in the early '90s.
Jack Selby
Jack was a member of the founding team at PayPal, responsible for taking their operations international. He is Managing Director at Thiel Capital and Managing Partner at High Frequency Entertainment.
Matt Brimer
Matt is a co-founder of General Assembly, which provides courses in mobile and web development, data science, and product management, and was acquired for $413 million in 2018.
James Glasscock
James is the founder of Elephas Ventures. He is former SVP of Business Development at Machinima and Warner Bros and a cryptocurrency investor since 2013.
Eric M. Jackson
Eric was VP of marketing at PayPal and is the author of The Paypal Wars . He is a co-founder of TransitNet, co-founder and CEO of CapLinked, and was founder and CEO of WorldNetDaily Books.
Lucy Wang
Lucy is an active investor in the machine learning, big data, and AI ecosystems. Shes also an expert data scientist, having developed economic models and trade signals at Bridgewater.
Jeff Morris Jr.
Jeff is Director of Product and Revenue at Tinder. He has invested in companies including Lyft, Compound Finance, Blockfolio, Ocean Protocol, and CryptoKitties.
Distributed Global
Distributed Global is an early fund in many respects. They were one of the first groups to enter crypto investing, one of the first funds to develop a stablecoin thesis, and they wrote the first check into Reserve.
Neo Global Capital
NGC is the strategic investment vehicle of the NEO foundation. It invests in inspiring projects related to blockchain and is a large institutional owner of cryptocurrencies.
Ran Neu Ner
Ran is the Founder and CEO of Onchain Capital, host of the Crypto Trader show on CNBC Africa, a serial entrepreneur, and was voted one of the 100 most influential people in Crypto by Crypto Weekly.
This is a project that every investors should put a close eyes into. You can find more details about the project via the link provided below
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