{"id":444604,"date":"2022-05-10T10:32:52","date_gmt":"2022-05-10T07:32:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nouriel-roubini-oversees-the-development-of-tokenized-dollar-replacement\/"},"modified":"2022-05-10T10:32:52","modified_gmt":"2022-05-10T07:32:52","slug":"nouriel-roubini-oversees-the-development-of-tokenized-dollar-replacement","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nouriel-roubini-oversees-the-development-of-tokenized-dollar-replacement\/","title":{"rendered":"# Nouriel Roubini oversees the development of tokenized dollar replacement"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a286ffb48723\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a286ffb48723\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nouriel-roubini-oversees-the-development-of-tokenized-dollar-replacement\/#%E2%80%9D_Nouriel_Roubini_oversees_the_development_of_tokenized_dollar_replacement_%E2%80%9C\" >&#8221; Nouriel Roubini oversees the development of tokenized dollar replacement &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Nouriel_Roubini_oversees_the_development_of_tokenized_dollar_replacement_%E2%80%9C\"><\/span>&#8221; Nouriel Roubini oversees the development of tokenized dollar replacement &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZTliMTJhYzAtZmJhYS00NDU4LTkwYjctNGU1YzllODhjYjI3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Economist and cryptocurrency critic Nouriel Roubini is heading up the development of a tokenized asset to combat fears of rampant economic stagnation and inflation.<\/p>\n<p>Roubini has long been a skeptic of the cryptocurrency space, which makes his own foray into the world of digitized financial instruments intriguing. In his role as co-founder and chief economist of Dubai-based investment firm Atlas Capital Team LP, Roubini is helping with the roll-out of a set of financial instruments to launch a security token that will act as a \u201cmore resilient dollar.\u201d<\/p>\n<p>As initially reported by<strong> <\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-09\/crypto-critic-nouriel-roubini-is-working-on-a-tokenized-dollar-replacement?sref=vuYGislZ\">Bloomberg<\/a><strong>, <\/strong>Atlas Capital CEO Reza Bundy and Roubini outlined initial plans for the firm\u2019s new products, primarily driven by the current state of the global economy.<\/p>\n<p>The Dubai-based firm will work with Web3 developer Mysten Labs which will be tasked with building the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> behind the United Sovereign Governance Gold Optimized Dollar (USG). <\/p>\n<p>As Roubini highlighted in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Nouriel\/status\/1523642813023494145\">tweet<\/a> on May 9, USG will begin as a traditional index offering total return swaps to major investors. Atlas hopes to expand this offering to an exchange-traded fund before transitioning to a tokenized version.<\/p>\n<p>According to the report, USG would be backed by real-world assets, including short-term United States Treasury bonds, gold and real estate investment trusts. The offering will be aimed at major investors like sovereign wealth funds, pension funds, and possibly central banks exposed to dollar-backed assets.<\/p>\n<p>In an op-ed published in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2022\/apr\/25\/world-stagflation-covid-ukraine-inflation-growth\" data-amp=\"https:\/\/amp-theguardian-com.cdn.ampproject.org\/c\/s\/amp.theguardian.com\/business\/2022\/apr\/25\/world-stagflation-covid-ukraine-inflation-growth\">Guardian<\/a> at the beginning of May, Roubini highlighted the current global socio-economic climate and its pressure on the U.S. dollar, which has long served as the world\u2019s reserve currency.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Terra peg mechanism in doubt as UST crashes to 67 cents<\/em><\/strong><\/p>\n<p>Roubini outlined an unforeseen consequence of the conflict between Russia and Ukraine. The U.S. dollar\u2019s role as a central instrument in global sanctions enforcement inevitably weakens the fiat currency over time. He said:<\/p>\n<blockquote><p>\u201cNot only does it create severe friction in international trade in goods, services, commodities, and capital; it encourages U.S. rivals to diversify their foreign-exchange reserves away from dollar-denominated assets.&#8221;<\/p><\/blockquote>\n<p>Roubini believes this could sharply weaken the dollar and accelerate the creation of regional monetary systems. Hence the move to launch \u201ca new instrument that\u2019s effectively a more resilient dollar.\u201d<\/p>\n<p>The note from Atlas outlining plans for the launch of USG also closed off with some negative comments towards the cryptocurrency space. The note stated that cryptocurrencies are not backed by anything \u2013 only vaporware \u2013 and don\u2019t provide either income or use or other utility services; so they are purely speculative asset bubbles.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nouriel-roubini-oversees-the-development-of-tokenized-dollar-replacement\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Nouriel Roubini oversees the development of tokenized dollar replacement &#8220; Economist and cryptocurrency critic Nouriel Roubini is heading up the development of a tokenized asset to combat fears of rampant economic stagnation and inflation. Roubini has long been a skeptic of the cryptocurrency space, which makes his own foray into the world of digitized&#8230;<\/p>\n","protected":false},"author":1,"featured_media":444605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZTliMTJhYzAtZmJhYS00NDU4LTkwYjctNGU1YzllODhjYjI3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,79281,75493,117,71644],"class_list":["post-444604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-nouriel-roubini","tag-stablecoin","tag-business","tag-dubai"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=444604"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/444605"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=444604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=444604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=444604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}