Nouriel Roubini is the chief economist of Atlas Capital Team LP, and he confirmed that they are working on a virtual asset that is a more durable currency than the US dollar. He cited that their token is a joint initiative with private American venture capital company Andreessen Horowitz.
We are interested in sharing this foreign exchange-related news about the US dollar with our readers. We believe they will discover the latest developments regarding the official currency of the United States and several other countries, which could impact their day-to-day activities.
According to the update posted online by Estonia-based cryptocurrency news source, Tron Weekly, Roubini and his Atlas Capital Team LP group have acknowledged that the US dollar’s standing as the world’s reserve currency might get jeopardized at this point.
They believe this possibility is likely if the United States issues too much money and its adversaries start de-dollarizing, echoing broad inflation paranoia. Moreover, Roubini remarked in a recent interview that they at Atlas Capital Team LP had recognized that the United States’ dollar reserve currency could be at risk.
Hence, he affirmed that they are presently working on making a new financial instrument that is effectively a more resilient dollar. Atlas Capital Team LP and Mysten Labs will collaborate on the technology for what they label the “United Sovereign Governance Gold Optimized Dollar.”
Roubini’s company he co-founded and the Andreessen Horowitz-backed Web3 developer described their project as a token. Furthermore, the United Sovereign Governance Gold Optimized Dollar attempts to capitalize on the US dollar’s waning global supremacy and rising inflation fears.
Roubini shared that this tokenized dollar replacement is a coin backed by real investment assets, unlike a usual virtual currency. He said that their group is interested in building an inflation-proof US dollar and delivering a stable investment asset into more hands worldwide.
Atlas Capital Team LP and Mysten Labs will launch the United Sovereign Governance Gold Optimized Dollar later this year. A mix of short-term US Treasury bonds, US real estate less influenced by climate change, and gold will support this virtual token.
Additionally, the ultimate package of investment assets backing the US dollar replacement will consist of real estate investment trusts or REITs. Reza Bundy is the co-founder and chief executive officer of Atlas Capital Team LP.
He informed local media outfits that their target at Atlas Capital Team LP is to make a digital asset with payment features or a global store of value similar to a substitute for Treasuries.
We find Mr. Nouriel Roubini and his Atlas Capital Team LP’s US dollar alternative interesting. We understand that they want to help the public deal with the soaring inflation rate, which has reached 8.5 percent in the United States lately from the previous 2 percent.
We know that such rising costs in products and services have troubled American consumers. Therefore, we believe the US dollar alternative project of Mr. Roubini’s group can be a feasible solution.