Today I have a paper that I wrote mostly for our friends that are involved in cryptocurrencies, especially “stablecoin” crypotocurrencies that are linked to the U.S. dollar, euro, or some other benchmark. This list includes Libra, the new endeavor led by Facebook, which is linked to a basket of currencies, somewhat like the IMF’s SDR. I wanted to put this new development in something like a historical context, and also to show how the basic principles are used in a variety of financial instruments common today.
Click here to read “A Rosetta Stone of ‘stablethings’ and other financial instruments”
