BLOBFLOW - DECENTRALIZED MONEY
BLOBs are most reliable stablecoins fully decentralized with FLOW. BLOBs are backed by baskets of other stablecoins selected by FLOW holders.
Money plays an important role in the life and development of society and belongs to the most ancient phenomena created by humans. The modern economy, both state and personal, is inextricably linked. Therefore, science pays much attention to the study of the history and features of such concepts as money.
Money is a special product that is used to express the value of other goods and services, is a carrier of purchasing power and is accepted as payment.
Money performs the following functions:
A tool for measuring prices and calculations
Means for exchange and circulation
Accumulator
Money arose out of the need to estimate the value of goods and services when making their exchange. Prior to their invention, people traded, paid for goods, too, which was not always convenient. There was a need for a single equivalent for exchanges between salespeople, workers and employers. Gradually, they started using gold and silver as money.
Precious metals are most in line with the cost equivalent requirements because they have a high price per small unit of weight with minimal volume, are resistant to damage, homogeneous, easily shared without loss of value. They made ingots of gold and silver, later began to mint coins, and later the small ones began to use copper.
BLOBFLOW is decentralized money with the mission of replacing fiat currencies.
BLOBs
Diversified with top stablecoins
Driven by smart contracts
Governed by FLOW token holders
FLOW
10 billion total supply
Rewards for originating BLOBs
Fees for redeeming BLOBs
BLOBFLOW MONETARY DEMOCRACY
Volatility is amongst the monsters eating up the crypto space. It has held back the adoption of cryptocurrency in many quarters and has been one of the strongest points used by crypto antagonists to attack the space.
The introduction of stablecoins has eased the criticism a little. What is a stablecoin? Stablecoins are cryptocurrencies whose market prices are pegged to other less volatile assets ("stable" assets) like fiat currencies, commodities and indices. Thereby making stablecoins stable.
The crypto space is now witnessing different types of innovation in this regard, which has given rise to different types of stablecoins. We have the Fiat-Collateralized stablecoins, Crypto-Collateralized stablecoins, Non-Collateralized stablecoins and, recently, Gold-Collaterized stablecoins, as well as stablecoins collateralized by other commodities.
The Gold and Fiat-Collateralized stablecoins are the most stable in this space, given that they are backed by the most stable commodities and US Dollars. Examples of such coins are: Kinesis Money and Tether.
BOTTLENECKS OF STABLECOINS
Despite the fact that stablecoins are less volatile, there are some bottlenecks associated with them.
Fiat-Collateralized Stablecoins:
Fiat-Colletralized stablecoins are inherently centralized because they need a trusted centralized custodian that must store Fiat.
This betrays the decentralized virtue of blockchain technologies and does not give everyone access to see the reserves for themselves. These stablecoins present a need for third party auditors and also regulators. This causes significant overhead and proves to be very expensive.
There are also questions surrounding the future of Fiat-Collatralized stablecoins.
What is the future of Fiat Currency?
Fiat Currency, as we know it, has not stood the test of time as a reliable means of exchange. All Fiat Currencies in history meet the same destiny: Hyperinflation, and then a crash to zero.
So, if a stablecoin is collateralized by Fiat Currencies, its future is also tied to Fiat. Should Fiat crash to zero, the Stablecoin also crashes to Zero!
Gold-Collateralized Stablecoins:
This should be the one of the most stable and reliable types of stablecoins. Because they are collateralized by one of the most stable assets in the history of humanity: Gold.
However, like Fiat-Collateralized stablecoins, they need centralized custodians.
Furthermore, these types of stablecoins have not yet found their footing in the crypto space.
Crypto-Collateralized Stablecoins:
These types of stablecoins retain the decentralized character of blockchain technologies. They are open for all to see, but one could say that these types of stablecoins are the least stable of all stablecoins, given that they are backed by other volatile coins - although they are over-collateralized. This still does not bring stability to the crypto space.
BLOBFLOW: THE STABLECOIN DEMOCRACY
BlobFlow is the first ecosystem of Decentralized Stablecoins backed by "perfect baskets" of other stablecoins.
BlobFlow aims to take advantage of the best attributes of all stablecoins:
- Stability of Asset-Collateralized Stablecoins (Fiat and Gold)
- Decentralization of Crypto Collateralized Stablecoins
BlobFlow’s BLOB tokens (BLOBs) are backed by sets of other stablecoins, helping them to become the most stable and the most reliable stablecoins in the crypto space.
Instead of having central reserves control by trusted custodians, BLOBs’ reserves are defined by its community (holders of BlobFlow’s utility governance FLOW tokens, who have vested their tokens for a maximum of one year).
It is the BlobFlow community that decides the "perfect baskets" of stablecoins to be included in the reserve and it is this community that creates this reserve. This reserve is open for everyone to see.
The reserve is fully transparent, being run by smart contracts. Everyone will have access to it, and will automatically see the assets that back each BLOB stablecoin. With this mechanism, there is no need for third party
auditors to check the validity of the reserves. In the BlobFlow ecosystem, all community members are empowered to be auditors!
BlobFlow has created an ecosystem where the opinion of its community counts. BlobFlow is building a Monetary Democracy.
Diversification
BLOBs eliminate idiosyncratic risks specific to any individual stablecoin by diversifying among a basket of stablecoins chosen by FLOW token holders.
Reliability
Diversified Baskets act as hedges against single failure of any one stablecoin.
Automated Rebalancing
BLOBs always honor their peg. Learn more about this approach in our White Paper.
Smart Contracts
BLOBs are fully automated on-chain with smart contracts, promoting trust, reliability, transparency and resistance to censorship.
Community Governance
FLOW holders reach consensus on the collateral composition of BLOBs’ baskets.
Anti-Fiat
First four BLOBs to launch on ExMarkets exchange are BLOBUSD, BLOBEURO, BLOBGOLD and BLOBSILVER followed by almost 20 other BLOBs. We envision anti-fiat BLOBs dominating in the future.
ORIGINATE BLOBs TO RECIEVE FLOW
Originate BLOB stablecoins to recieve rewards in FLOW utility governance token!
Sign In With Metamask
Simply sign-in with your active Metamask account.
Allocate Approved Stablecoins
Our smart contract will recognize if you are holding any of the pre-approved stablecoin assets. You have the choice to allocate any amount.
Generate BLOBs and get Rewarded in FLOW
You will recieve the most stable and decentralized stablecoins BLOBs, as well as rewards in FLOW utility governance token. Early originators of BLOBs get rewarded significantly more FLOW tokens than late adopters.
ROADMAP
Q1, 2019
Research, Ideation, Initial Team Conversations, Technical Feasibility Study, Market-Fit Analysis
Q2, 2019
Stablecoin Architecture, Governance Architecture, Demo Completed, Draper University Program (Tim Draper’s entrepreneurial venture with a strong focus on blockchain)
Q3, 2019
Prototype Completed, Live Product on Testnet
Q4, 2019
Community Building
Q1, 2020
Token Sale
Q1-Q2, 2020
Mainnet Launch; BLOBUSD, BLOBEURO, BLOBGOLD, BLOBSILVER Listed
TEAM
Ivan Zone: CEO
Daniel Yavorovych: CTO
Mina Liu: CMO
Dan Austin Higwit: Protocol Design
Harsh Agarwal: Community Management
Paul Ujah: Content Creator
Sylvester Anichebe: VP of International Marketing
Prem Sharma: Community Engagement
ADVISORS
Naviin Kapoor: Token Economics
Roman Cherednik: Systems Architect
For More Information Click Link Bellow:
Website: https://www.blobflow.com/
Whitepaper: https://www.blobflow.com/whitepaper
Telegram: https://t.me/blobflow
Facebook: https://www.facebook.com/blobflow
Twitter: https://twitter.com/blobflow
Medium: https://medium.com/@blobflow
Author: Thelagendjz4
ETH Address: 0x45365defCa88A8c888e9A67F57e0c315f2B1e5F2
#BlobFlow #FLOW #stablecoin #blockchain #bitcoin #IEO @BlobFlow
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