First-Ever Decentralized Crypto Central Bank ‘Decentral’ Adds Popular Economist, Stephen Moore
A recently concluded research conducted by the Binance Research team showed that respondents felt the second biggest risk to the stable growth and development of the crypto industry (the first being a security hack) is a change in global laws and regulations concerning the sector. There are already a few countries not in support of the rise of cryptocurrency and are still actively trying to stifle its growth. The ones who aren’t antagonistic towards the sector, however unlikely, could still change their laws to put a dent on its growth in their respective countries, ultimately affecting the global outlook.
Conversely, the same research also showed that global laws and regulation is also the biggest potential growth driver to the sector. This is likely one of the major reasons “Decentral” is to be launched.
Central Bank for Digital Assets
According to reports, a group of entrepreneurs, one of whom is popular economist – Stephen Moore – are making plans to launch a project touted as the world’s first decentralized central bank. Decentral, as it is called, is looking to help the global cryptocurrency sphere by influencing legislation as much as possible and also stabilizing these digital assets, much like a central bank would.
The CEO of Decentral, Sam Kazemian, has said that Decentral hopes to be for crypto, what the Federal Reserve is for the U.S. economy. The new crypto central bank will have more than a few functions including modifying the supply of digital assets and would also float its own cryptocurrency. The yet-to-be-named Decentral asset will be controlled by a stable process of valuation.
Stephen Moore, who used to be a part of the Wall Street Journal editorial board, has also just joined the Decentral team as its Chief Economist even though not much is currently known about the specifics of his role. Regardless, Moore has expressed excitement about joining the team and his new role and also has his eyes fixed on the prize.
“I am really excited about doing this. I hope it makes me rich.”
Decentral’s Token will be a Stablecoin
Speaking about Decentral and its coin, Moore compared it with Facebook’s forthcoming Libra as he explained that the coin would be a very useful payment method which will also be pegged to a stable currency. Moore hopes that this will help create some form of consistency and standardization in the cryptosphere as the sector is usually somewhat divided.
I’m Still an Economist
Moore has also said that his profile and efforts as an economist will be not be hampered in anyway by his decision to become a part of a crypto based project. According to him, it’s obvious that digital assets are increasingly becoming an important part of the economy, suggesting that cryptocurrency can’t be ignored
Recently, Stephen Moore was picked by U.S. President – Donald Trump – for the Federal Reserve but eventually withdrew due to consistent pressure and controversy stemming from previous remarks made by Moore. Moore is said to have a long term habit of persistently making comments against gender equality and advancement which caused a lot of dispute when he was picked.
Moore allegedly wrote in a letter to Donald Trump:
“The unrelenting attacks on my character have become untenable for me and my family and three more months of this would be too hard on us.”