Atom Foundation, which focuses on liquidity solutions on the blockchain, this week announced it is launching the Central Bank Distributed Secure Coin (CBDSC). CBDSC aims to improve current central bank digital currency (CBDC) projects that claims to remove volatility while adding flexibility to governments in executing their economic policy. The CBDSC is a new, patent-pending stablecoin alternative technology that will also allow governments and central banks to maintain a unique monetary policy on top of existing CBDCs.
“All the current CBDC projects are not secure and have zero protection against volatility, price manipulation, hacking, and loss of funds,” said Yoda Regev, CEO at Atom Foundation. “Our CBDSC, when compared to stablecoin or current CBDC solutions, is equivalent to comparing smartphones and the telegraph and will allow issuers more leeway to directly implement economic policy on the blockchain, and guard against currency volatility and mismatch.”
CBDSC will offer a lifetime license at no cost and claims to provide advanced protection through a patent-pending solution with a built-in fluctuation freeze its developers say removes the possibility of volatility. It will drive value by pegging to a currency index or other pricing source which is unable to be deviated from, regardless of market volatility. The CBDSC also has a regulation layer that allows funds recovering, privacy-based zero-knowledge proof, and bad actors precaution.
Another benefit is the ability to monitor and tax income and finer controls like omitting funds that have been gifted to friends or family. The CBDSC regulation layer protocol allows issuers to control the CBDC according to the economic policy the government sets forth and even dealing with unknown black swan events. This is possible even after the digital currency is distributed to the public. The flexibility of the regulation layer protects the ability to update the CBDC governance policy without the need to do a recall or reissuance of a new digital currency version merely to extend functionality or execute a new policy.
