‘Dr. Doom’ Nouriel Roubini to Launch Tokenized Dollar Replacement — With Payment and ESG Features

Economist Nouriel Roubini, a crypto skeptic known arsenic “Dr. Doom,” is processing a tokenized plus intended to beryllium a much resilient U.S. dollar. “Our extremity is to make a planetary store of worth … This is thing akin to a substitute for Treasuries, oregon a integer plus that has outgo features successful it.”

Nouriel Roubini’s Tokenized USD Alternative

Economist Nouriel Roubini revealed this week that helium is processing a suite of fiscal products, including a tokenized asset, called the United Sovereign Governance Gold Optimized Dollar (USG), to enactment arsenic a much resilient dollar against precocious inflation, clime change, and civilian unrest, Bloomberg reported.

Roubini is simply a longtime crypto skeptic who called bitcoin “the parent of each bubbles.” He teaches astatine New York University’s Stern School of Business and has his ain economical consulting steadfast called Roubini Macro Associates. Famed for predicting the lodging bubble clang of 2007-2008, his gloomy predictions person earned him the nickname “Dr. Doom” successful the media.

Dr. Doom is moving with a Dubai-based existent property concern and absorption firm, Atlas Capital Team, to make the caller products. He joined the institution 2 years agone and is presently its main economist.

Roubini explained that the dollar could beryllium successful jeopardy arsenic the U.S. “prints excessively overmuch wealth and adversaries commencement de-dollarizing.” He detailed:

We admit that America’s dollar reserve currency could beryllium astatine hazard and are moving to make a caller instrumentality that’s efficaciously a much resilient dollar.

His program came arsenic a astonishment to the crypto assemblage since helium has been 1 of Bitcoin’s astir vocal critics for galore years.

Roubini besides elaborated connected his program connected Twitter Monday. “The integer obstruction volition person ace strict AML/KYC features truthful it volition beryllium a integer asset-backed information with superior ESG [Environmental, Social, and Governance] features — i.e. sustainable existent estate. So the integer enactment is lone 1 of the 3 and it is an extremity constituent not a starting point,” helium tweeted.

The economist further detailed:

First, USG starts arsenic a hedge against inflation, debasement of fiat currencies, fiscal crisis, governmental and geopolitical hazard and biology risks. That is the halfway thought not its integer rail.

He added: “Second, the implementation of USG is archetypal an scale connected which you tin constitute TRS [total instrumentality swap], past a money oregon ETF [exchange-traded fund]. And past yet and yet arsenic a information token backed not by vaporware similar astir junk successful crypto but alternatively real/financial assets truthful you cognize astatine each times its marketplace value/NAV.”

The caller dollar would beryllium backed by “a premix of short-term U.S. Treasuries, gold, and U.S. spot (in the signifier of existent property concern trusts, oregon REITs),” the economist noted, adding that they are apt to beryllium little affected by clime change.

Atlas co-founder and CEO Reza Bundy opined:

Our extremity is to make a planetary store of worth … This is thing akin to a substitute for Treasuries, oregon a integer plus that has outgo features successful it.

Roubini expects his caller merchandise to entreaty to ample investors who are looking for an alternate to the accustomed premix of stocks and bonds. He noted that sovereign wealthiness funds, pension funds, and adjacent cardinal banks that clasp ample reserves of dollar-denominated assets whitethorn beryllium interested.

What bash you deliberation astir Roubini’s tokenized dollar alternate project? Let america cognize successful the comments conception below.

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