Stabilizing currency value

[blueadept]

Is anyone working on any cash-settled futures/options exchanges against physical commodities (precious metals, base metals, oil, natural gas, coal, agricultural commodities, electricity)?  I think it might help reduce the volatility of the BTC.  It might also drive adoption.

Just as interestingly, is there anyone working on open-source software for creating such derivatives exchanges?  Would OpenTransactions be a good fit?