Economist Nouriel Roubini, who famously called Bitcoin “the mother of all bubbles,” is working on a tokenized asset intended to act as “a more resilient dollar.” The newly announced tokenized asset is set to be backed by U.S. Treasuries, real estate, and gold. Roubini Teams Up With Atlas Capital According to a Bloomberg report, Nouriel Roubini, the CEO of Roubini Macro Associates Inc. and professor of economics at NYU’s Stern School of Business, is working with the Dubai-based company he co-founded, Atlas Capital Team to develop an asset-backed United Sovereign Governance Gold Optimized Dollar (USG). USG will be first an index, then an ETF & last a security token backed by real/fin assets with AML/KYC features. Hedge against inflation, pol/geopol risks; & with ESG features. Crypto Critic Nouriel Roubini Is Working on a Tokenized Dollar Replacement https://t.co/kk38notzkB — Nouriel Roubini (@Nouriel) May 9, 2022 “Our goal is to create a global store of value. This is something akin to a substitute for Treasuries, or a digital asset that has payment features in it,” Atlas co-founder and CEO Reza Bundy told Bloomberg. Backed by Real Assets The token, which will be launched later this year, will be backed by a mix of short-term US Treasury bonds, gold, and US real estate affected by climate change. Real estate investment trusts, or REITs, will make up the final bundle of assets. The tokenized dollar replacement attempts to provide...
