The Global digital currency
Digital decentralised tokens raise ever-growing interest in the promise they hold. However considerable their potential, it remains to be realised in the form of true currency. To unlock the vast monetary and social possibilities brought by blockchain technologies, a sea change is needed, a fundamental shift in our approach to the conception of money.
This challenge sits on a brutal truth: it’s extremely hard to trust the new. Until digital currency is trusted it cannot be fully used for savings, trade or investment.
The Saga Foundation is a non-profit organisation that aims to create a reliable, global digital currency, by tying itself to established financial structures that already enjoy widespread trust.
Designing the Saga currency requires an interdisciplinary approach, combining best practice from financial services with the openness of blockchain. Saga is backed by a variable reserve, stored in established banks and algorithmically governed to minimise volatility. To ensure accountability, all participants undergo a formal KYC procedure.
The goal is simple: when the value of money is responsibly balanced, when governors and participants alike are held to fair account by a set of agreed, impartial guidelines, money will benefit from a new standard of trust and coherence.