Wednesday Morning Constitutional
One of the major points of SCO is financial security. Decoupling from the dollar is pretty fucking obvious way to accomplish this.
Guess I was early to the party. TFM said almost word for word my comment only a few minutes later.
I mean - at the time I was listening to the download.
@marlathetourist they will use this only for settlement for international trade(cross-border) payments. fiat is not going anywhere. this is merely to prevent overuse or manipulation by a single currency, like usd. this way, they peg their local currency to the settlement currency, make the trade and the other side gets their money converted back from the settlement currency to their local currency. so the intermediary currency serves as trade stabiliser.
@marlathetourist it's essentially gold backed digital currency that can be used solely for international trade. you can also redeem it and get the gold(i think). Andy Schectman talks a lot about this.