Hi,
what I really love about the harmony network, is the idea of a universal basic income. To me it makes so much sense and is a great step in the right direction.
But in my opinion there is just one piece missing in the puzzle. Pegging a stable coin to the dollar makes it complete reliant on the government (of a country, which I’m not even a citizen of). Crypto and web3 once started with the notion of giving back the power to the users. I feel like building everything around a fiat is the complete wrong direction.
Further, inflation is almost unpredictable for a future assessment of wealth. How can one plan for the future, when it’s not clear, what your money will be worth?
So my thought here was to peg a coin to the Consumer Price Index (CPI), where 1 dollar always has the same buying power. As far as I know it would be technically possible to do so with an algorithmic stable coin, but this is really not the field of my expertise.
I’m probably not the only one, who had thought so before, but i can’t find a finished project which does this.
What’s your opinion here? Do you think it’s do-able? Is it worth it? Do you see the relevance?
Soromos