Mar 31, 2023
Joshua Scigala is the founder of The Standard - a decentralized stablecoin protocol that enables users to lock up crypto and or physical gold to generate fiat-pegged stablecoins.
Trillions of US Dollars worth of assets, such as gold and cryptocurrencies, are locked away in vaults and digital wallets around the world. The Standard.io, a next generation monetary system, unlocks this stored value. It enables users to generate a stable virtual currency called “Standard Euro”, with more stablecoins based on other fiat currencies coming soon.
This is achieved by locking up collateral in smart contracts, called Smart Vaults. This allows people to spend their locked-up funds without selling their assets.
The protocol is governed by a community of “Standard Token” holders which form a DAO. The Standard DAO will manage the protocol by making key decisions utilizing smart voting mechanisms and prediction markets.The innovative concept of stable virtual currencies backed by rare assets constitutes a new privatized and decentralized Gold Standard for the 21st century.
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