Are you tired of inflation eating your savings? How about low pay and mediocre economic growth? Would you like to see the end of big government and ever growing national debt?
Today sees the launch of Saver Token, the first stable money since the US left the gold standard in 1971. “Stable money is money as it should be – a fixed medium of exchange,” says Branton Kenton-Dau the token’s Founder. “Stable money is good for the economy, good for people and good for society.”
Saver Token maintains a stable value by tracking the US Consumer Price Index (CPI-U), a measure of inflation. Kenton-Dau claims it is a way people can inflation-proof their investments for capital protection.
“So many of the challenges we face today are the result of floating currencies, the manipulation of interest rates and monetary supply. It has not always been like this and does not need to be like this anymore. The difference with Saver Token is that, thanks to the blockchain stable money is now being created by people, not governments or their central banks,” he says.
Associate Professor Nathan Berg from Otago University is the founding Advisory Board member. The company has produced a quiz to help people understand the importance of stable money: https://support.savertoken.life/knowledge-bases/2/articles/1-the-saver-quiz .
“What’s so important about stable money?” asks Kenton-Dau. “Over thousands of years from China to Rome, America to Japan history has shown fiat money has been bad for economies and bad for people.”
A major problem of fiat currencies is their debasement through inflation. In the United States a dollar loses on average 33% of its value every 10 years. This means people need to earn 33% on the money they hold just to stay even. In New Zealand, the home of Saver Token the NZ dollar has lost 20% of its value in the last 10 years.
On the other hand around the world periods of stable money have coincided with economic prosperity.
Because it tracks the CPI-U Saver Token is designed to buy the same goods in 5, 10, or 30 years’ time as it does today.
Saver Tokens are bought and sold on the Waves exchange. People wanting to buy can download the Waves app for their desktop or mobile phone. The Waves exchange is decentralised which means that a person’s account cannot be hacked and their assets stolen.
To buy Savers you need to fund your Waves account. You can do this with a fiat currency such as New Zealand or US dollars, or other crypto currencies such as Bitcoin. On the Waves exchange Saver Token trades under the symbol “PCV Token”. Full details of how to buy and sell are found on the Saver Token website https://savertoken.life/ .
Because Savers are blockchain tokens ownership is stored in a decentralised way without the need for a trusted third party. The entire financial system could collapse and as long as the Internet was still up you would have your Savers.
Savers are a return to stable money and the prosperity that history has demonstrated coincides with hard currency. They represent a return to disciplined money managed by token holders themselves.
The token can also be used as a stablecoin without many of the risks associated current stablecoins in the crypto-currency market.
Resources
Branton Kenton-Dau Bio: https://www.linkedin.com/in/branton-kenton-dau-933615/
[email protected]
Phone: +64 221 019 057
Nathan Berg Bio and contact details: https://www.otago.ac.nz/economics/staff/nathan-berg.html
