We need asset-backed currencies because the fiat standard might not work long-term.
If you’re doing well financially, you might own a house and a portfolio of stocks and bonds. These assets are already the normal store of value around the world, not fiat currency.
What if we tokenized that bundle of assets, and transacted with that token instead of fiat? That’s basically what Reserve is meant to enable.
The project was started by some tech people (futurist/x-risk/tpot/ea-but-not-ea) in Oakland, CA hoping to solve a real-world problem with cryptocurrency and get rich as a result. Only a few members of that early team remain and these days the companies in the Reserve ecosystem are staffed with a combo of inflation-ending idealists, defi diehards, and prosocial professionals around the world itching for something meaningful to work on.
While the companies in the Reserve ecosystem are each centralized, the Reserve protocol itself is quite decentralized; anyone can create an RToken and the ecosystem companies aren’t in control of RTokens that have been created. On-chain data shows that about 50 thousand people hold the Reserve Rights governance token.
Right now we’re at the moment of the third person joining the RToken creation party, and we’re excited for the next chapter:
Mobilecoin, Inc. operates Moby, the beautiful self-custody wallet for holding and spending eUSD and MOB.Visit Mobilecoin
Best Friend Finance, LLC operates Money Bastards, the fully-featured cloud-custody wallet for holding and spending eUSD, BTC, and ETH directly and with a debit card.Visit BFF
Confusion Capital, Inc. is the steward of the RSR Slow Wallet and often funds initiatives in the Reserve ecosystem, including ABC Labs and Best Friend Finance.Visit Confusion Capital
These stats are across all RTokens on the Reserve Protocol, including anonymized data from the Reserve Rpay app API.