Is ChainBLX making crypto currency a Real currency?


#1

Hey folks I’ve got a question. Warren Buffet said something like this:

“One of the big problem with Bitcoin (and other cryptocurrencies) is that they are not really a currency in one regard.

For example, if I buy a computer with Bitcoin, the company tells me the price in dollars/euro and how many Bitcoin I have to use to buy one. The BTC price changes constantly. The price quoted is not a fixed Bitcoin (crypto currency) price, but instead it’s a dollar/euro price.

To make a currency stable, a part of a market has to quote prices in that currency. For example oil is always listed in dollars. This gives the dollar stability; you need dollars to by oil.”

ChainBLX is doing something innovative with their crypto currency BLX-MF. Not only is it asset based, but they also require that the currency be used within the ChainBLX system. You need it when you mine, list and ICO.

So my question is: Does the mandatory use of BLX-MF make it more of a real currency in comparison to other cyrptos?


#2

BLX-MF - The Innovative Medium Of Exchange
ChainBLX is doing really something innovative with blockchain that has a potential to resolve inefficiencies in current trade finance system. The innovative cryptocurrency BLX-MF will be backing by real assets and as we envisages it will have mandatory use for financial institutions as well as individuals to process their services or smart-contracts. So as soon and as much financial institutions or organizations offers their services on ChainBLX platform, the cryptocurrency BLX-MF gets momentum since transaction fees is mandatory for every transaction. So as we conclude BLX-MF will be serve as a innovative medium of exchange over current trade-finance system.


#3

here’s the key


#4

@MX10178 I have to agree.

Asset backed --> Reasonable Volatility --> Institutional Adoption --> Mainstream Use


#5

Until now this “asset backed” thing seems to be a bunch of BS. The Venezuelan crypto Petro is supposedly “backed” by oil that is still in the ground, although nobody really knows how. There’s no promissory mechanism to guarantee anything.


#6

Look where its coming from though haha. Venezuela is in no position of getting into the cryptocurrency business.
The US has already issued a warning on Petro. Avoid it at all costs people.


#7

Exactly @CryptoMan It’s like anything, do your homework


#8

The Petro? Really!? It reeks of bad business