Since the day Bitcoin appeared on the scene the planet rushed into development of platforms recording digital currency transactions on the blockchain. Yet all we have to date are a bunch of senseless tokens, digital exchange shysters and countless token investment platforms that vacuum hard earned cash like a Dyson. The model for digital currency platforms is well tested. Hard earned cash comes in one end and leaves out another. Participants are stuck with tokens and dreams of how life could be if a cash buyer for their tokens existed. As a result, the cycle of syphoning wealth from customers in exchange for tokens has eroded trust in digital currencies. Case in point, the US as well as other countries have already launched a digital currency with citizen participation nowhere in sight.
The security of the blockchain and convenience of digital currency stirs the imagination no doubt. But the fundamental problem with digital currency is it can not store wealth because it is not perceived to be backed by anything other than a UPS power supply.
Enter the UNIT. The UNIT is a new form of currency. It is digital. It is cash. It is gold. The UNIT is a token backed by local cash and gold. The UNIT can be transacted on crypto platforms. The UNIT token can be converted to local or foreign cash and even gold. The UNIT is an Interesting direction in digital currency platform evolution. Now we have a digital currency concept that represents wealth measured in gold and local currency. Hmm, was this not a thing some decades ago before Bretton Woods? It worked decades ago, so might it work now? Hard to tell. As of yet there has not been a proof of concept to demonstrate the viability. In any case finally a digital currency effort not focussed on re-inventing utility, but a honest effort looking at hard economics and backing that is agreed on by the entire planet to be a store of wealth.
On top of it all this new unit of currency is called the UNIT. Marketing strategy is done so let's see a proof of concept soon.
Stay tuned for updates...
