Categories: Altcoins

Nobel Prize-Winner Myron Scholes Backs Stablecoin to Rival Facebook’s Libra

The Saga Foundation, a Swiss non-profit created last year dedicated to developing new technologies in open and decentralized software, is launching a new virtual currency called Saga (SGA). The token is connected to the International Monetary Fund’s (IMF’s) cash reserve that can initially only be owned by accredited and identified investors. The news was published by CNBC on December 10. A CBDC in Disguise? The Saga (SGA) token launched this Tuesday is the first cryptocurrency that seeks to emulate the management mechanisms of a central bank. The founders include a group of famed economists…

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