LONDON, ENGLAND / ACCESSWIRE / January 12, 2018 / Over X-Mas weekend, an organization called Acchain.org, itself overseen by the international decentralized Committee IDAXC ("International Digital Assets Exchange Council"), issued a press release commemorating yet one more successful milestone in its long-term business plan. Namely, the launch of an ICO to fund the "A-SDR," a global basket of digital cryptocurrencies based on a similar model that the IMF has been working with for several decades.
Whereas the IMF deals exclusively with banks within its own sphere, the emergent A-SDR is open to anyone looking to exchange or cross-settle transactions within the digital/fiat universe. Which, effectively, is everyone working in digital space.
In the original announcement, it was explained that ACCoin ("ACC") - the top-tier or "fuel" coin supervised by the IDAXC - would form a 3-part "digital cryptocurrency basket" alongside Bitcoin and Ether. Offering ongoing, updated, exchange rates that were determinate and fixed worldwide. All to better "anchor" the three coins in a manner that would be transparent and open to anyone, anywhere in the world.
Such a supra-national system, just like the IMF model on which it is based, would be the first and perhaps most important step for integrating the crypto (alt-coin) multiverse into the traditional (fiat) banking system. And would also be a necessity if (as many expect) sovereign nations decide to issue their own national coins or tokens in the days or months ahead.
According to Serena Lin, spokesperson for ACChain (the issuer of ACCoin),
"Within a week of the X-mas release, Google showed our announcement had been picked up or linked on over 7500 English-language sites worldwide, and our staff was working around the clock answering questions on social media, especially Twitter. People were demanding to know more. All things considered, we decided to delay the closing of the A-SDR ICO an extra 7 days, to January 31st, to try to answer questions."
The same basic questions were being asked over and over, explains Lin:
Why is such a Digital Basket needed?
"Experts agree that one of the most powerful benefits of the Blockchain revolution is the ability to 'eliminate the middleman' - with attendant speed increases and cost reductions within the global commerce arena. It is estimated by the WTO, for example, that over $1.6 trillion a year (USD equivalent) is spent on transaction costs alone when countries do business on an international level. Blockchain transactions can reduce these costs significantly, and also enable smaller businesses formerly unable to meet the 'transaction fee threshold' to get into the game. That is potentially hundreds of billions of dollars of brand new commerce stepping onto the playing field. This is possible only if everyone, at once, has a conversion and exchange standard they agree on, and emanating from a central source."
What is ACCoin and why does it deserve to quantify Bitcoin and Ether?
"ACCoin is perhaps the best-kept secret in the digital world," suggests Lin. "Representing years of work initiated even before the launch of Bitcoin, ACCoin was designed and configured, complete with its own Eco-System, to be the premier 'anchoring' or 'digitizing' token on the planet. It has the ability to convert (and later reconstitute) both tangible and intangible assets to and from the digital universe. Every coin and token not anchored to a quantifiable asset - even including Bitcoin - is merely "Blockchain 2.0." Only those coins or tokens anchored to something identifiable and quantifiable deserve to be called "Blockchain 3.0," the final phase of the digital revolution. Coins backed by assets will also be more price-stable, experts say, and therefore much more suitable for daily commerce."
"Consider that asset-backed coins are not only quantifiable but ownership is specific and allocated. Unlike, for example, commodity futures that trade billions of dollars a day, per commodity, per exchange, but are mostly backed by nothing," says Lin. "Consider also that, over time, the daily trading volume of asset-backed coins will far exceed that of simple utility tokens that are unbacked. This is a huge paradigm shift that very few have considered." (For more on the complete, integrated, ACCoin system, see www.Acchain.org.)
"In the years to come, we expect the vast majority of issued digitized tokens to use the ACCoin system, much in the same way that the majority of Blockchain applications currently use Ether," explains Lin, "so by anchoring both Bitcoin and Ether in the A-SDR, we are actually adding value to these coins for the future, as they will finally be able to be quantified in terms of a 'basket' bound to real things."
What is the upside for participants in the A-SDR ICO?
"Participants in the A-SDR ICO receive ACCoin. As is the case of developers who use Ether, every subsequent and future transaction involving digitization or anchoring of a real asset using the Eco-System will incrementally increase the value of ACCoin." Adds Lin, "We have a great many announcements coming in 2018. We expect several of these announcements to deal with the conversion, via traditional banks, of digital to fiat, and vice versa."
Is the IMF involved with the A-SDR?
"We simply borrowed a concept that had proven itself workable over decades, and retooled it to solve a pressing need in the crypto space."
But aren't there tokens already doing digitization?
"There are indeed single-utility tokens or coins that claim to be able to anchor one specific asset, under one specific circumstance, at one specific time. Tokens anchored to gold and sold as investments, for example, are very popular now. But the team behind ACCoin has spent over ten years developing an actual Eco-system designed to allow the conversion and reconstitution of assets, in real time, 24/7, both horizontally(within the Blockchain universe) and vertically (to and from the hard-asset universe)."
"To be clear, there is no one else doing this. In fact, while some of the individual features of ACCoin are duplicated by other coins, there is no single coin or token offering the full spectrum of service and utility that ACCoin is offering; nor is there any similar coin that is overseen by a decentralized international committee; nor is there any similar coin operating at a supra-national level, a level higher even than local or national (sovereign) digital coins."
How does the A-SDR work?
"Every 180 days, the A-SDR Fund will issue new units to satisfy pent-up demand for asset-digitization via ACCoins within the Eco-system. At the same time, the relative exchange values between the three digital currencies in the basket (ACC, Bitcoin and Ether) will be adjusted. It is suggested that assuming ongoing demand for Blockchain-supervised asset digitization in these sequential periods, the value of ACC itself can only increase relative to the other two coins. The fixed and quantifiable value of all three coins in the basket will, in turn, be used worldwide as benchmarks for banks and other institutions or organizations offering exchange and conversion services; including exchange to and from sovereign coins (as they emerge); and to and from fiat."
"Over time, markets will naturally discover that, of the three coins, ACC is the more stable, and the only one grounded in physical assets. Of the three coins, only ACC will offer all five critical attributes that financial institutions insist on - quantifiable value; scalability; liquid circulation; stability for storage; and global acceptance as payment & settlement. This should, ultimately, cause institutions to favor ACC as a standardized means of global payment & settlement for transactions involving digital assets."
Are there any Early Adopters of the ACCoin Eco-System?
"The 'hard' rollout of the A-SDR/ACCoin model is taking place right now with the official launch of the A-SDR Fund! Through the summer of 2017, the Eco-System was successfully stress-tested with a variety of assets including a rare type of Chinese tea and a very large real estate project in Texas. Other successful tests included financial instruments, and even a line of electric cars."
"In December 2017, the global E-Commerce giant TENCENT Holdings Ltd. announced it had adopted the ACCoin Eco-system and was looking forward to playing a significant role in the rollout."
"Wu Fei, Senior Architect of the industry-leading TENCENT CLOUD program said, 'TENCENT CLOUD will work hand-in-hand with the A-SDR to create an asset-based digital product that will ultimately disrupt the entire industry.' - video here. TENCENT operates mainly out of Asia and has a market cap in excess of $500.0 billion. In comparison, the market cap of Disney is less than $100.0 billion."
Is Fiat (cash) required to participate in the A-SDR ICO?
"The ICO is structured to allow immediate participation to subscribers already holding either Bitcoin or Ether."
To learn more or participate in the FUND, visit the Website: http://www.acchain.org/en/activity.html
Follow on Twitter: https://twitter.com/ACCHAIN
Like on Facebook: https://www.facebook.com/ACChainGlobal
Read the Whitepaper: https://www.acchain.org/whitePaper/Acchain_whitepaper_En.pdf
Contact Name: Serena Lin
Contact Email: [email protected]
ACChain is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.