Basis initial coin offering (ICO)

Basis



Cryptocurrencies have been too volatile for mainstream use. Loans, salaries and other basic financial contracts are poorly served by volatile currency. Stable currency isn't available in much of the world. In many developing countries, the most stable currency available can devalue at a rate of 10% per year or more. Basis is designed to maintain a stable value and serve as a medium of exchange accessible to anyone with an internet connection.

0
1 1 expert ratings
1.3
0
0
0
View rating distribution
Starts in 1 second ago
2019-12-07 - 2019-12-07
More on ICO
Report

About Basis ICO

The price volatility of Bitcoin and other cryptocurrencies is one of the biggest barriers to widespread adoption that cryptocurrencies face today. Unlike fiat currencies, today’s cryptocurrencies do not have a central bank that implements monetary policy to keep purchasing power stable, meaning that changes in demand can induce massive fluctuations in price. If users cannot be sure that the purchasing power of their accounts will remain stable, they will never adopt a cryptocurrency as a medium of exchange over a price-stable alternative. Moreover, without price stability, it is difficult for credit and debt markets to form on top of a cryptocurrency because every contract taking payments in the future must charge a large premium to factor in price risk. For example, imagine you received a salary of 1 BTC per month—if the price of BTC dropped, you might miss rent.

While much cryptocurrency research has been dedicated to technical topics such as transaction throughput and smart contracts, almost no attention in comparison has been paid to improving price stability, a problem we believe to be a much bigger obstacle to the mass adoption of cryptocurrencies as a medium of exchange. In this paper, we introduce Basis, a cryptocurrency whose tokens can be robustly pegged to arbitrary assets or baskets of goods while remaining completely decentralized. For example, to start off, 1 Basis can be pegged to always trade for 1 USD. In the future, Basis could potentially even eclipse the dollar and be updated to peg to a consumer price index (CPI) or basket of goods, similar to how central banks hit inflation targets today. The Basis protocol accomplishes this by algorithmically adjusting the supply of Basis tokens in response to changes in, for example, the Basis-USD exchange rate. This implements a monetary policy similar to that executed by central banks around the world, except it operates as a decentralized, protocol-enforced algorithm, without the need for direct human judgment. For this reason, Basis can be understood as implementing an algorithmic central bank.

Basis reviews

PlumBot
ICO Analyzer Bot
Rated on Sep 2, 2018
0
0
0
100%

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

Basis ICO price

Basis () crypto

Basis coin

Basis investment info

Basis whitepaper

Basis team

Apply as an advisor

Nader Al-Naji

CEO + Co-founder

Lawrence Diao

Co-founder

Josh Chen

Co-founder

ICOs that might interest you

Platform
2.9

We intend to create reliable infrastructure to provide insurance protection for crypto assets.

Apr 30, 2018
Platform
2.7

Adopt a bee family - allows you to enjoy the excitement and satisfaction of helping bee families,...

May 15, 2018
Big Data
2.9

The Smart City Coin Test Net is a utility token aimed to be used within the European Smart City C...

Nov 1, 2018

The XERA exchange is going to transform the way cryptocurrencies are traded, offering traders and...

Oct 29, 2018