Reserve - Scalable prosperity for the whole of Cryptown!
While I was riding the waves on my Whales back, it got me thinking about my fellow noobs that maybe we are missing a trick? This led us to begin searching the dusty alleys and meanest saloons’ in Cryptown for a company with a reputation you could bet your favourite horse on.
With national governments printing and pumping money into the world’s economies, the dark power of inflation is threatening to devalue currencies around the world. Inflation means the general level of prices is going up. Meaning it costs more to buy the same item and this is a simple explanation of inflation. If wages do not increase in line with this, then we’ll have problems affording everyday things, and the value of your fiat in the bank will decrease.
Places like Venezuela and Lebanon highlight how real of a threat this is as their economies have been REKT this year! In Lebanon in 2020, the year on year consumer price inflation rate rose by nearly 90% this in June. As of earlier this month, there have been protests, runs on banks and blackouts; our worst fears for a centralised monetary system are being realised right before our eyes. But what can the average person do about it?
Well, the Posse thinks they’ve found the answer in a blockchain company called Reserve. Reserve recognises some of the problems with the traditional centralised money systems, and it is using the blockchain to fix some of these issues. Citing Bitcoin as a prime example, the founders of Reserve saw the benefits of using a distributed ledger to track transactions but also highlighted Bitcoin’s volatility as an issue. The general public may have problems putting their hard-earned savings into something with such a volatile history like Bitcoin, after all, if you ride a whale with no saddle (stability), you’re in for a bumpy ride. So, Reserve has been working on building a solution and have produced two tokens, Reserve (RSV) a stablecoin pegged to the USD and Reserve Rights (RSR) that fluctuates with the market.
One of Reserve’s main aims is to open up financial services for people who don’t have access to traditional banking methods. Highlighting the case of the Pesa in Nairobi (digital payment system used in that part of the world), and how the Pesa has created autonomy for the people of Nairobi. Reserve hopes to do something similar on a much bigger scale, they cite a problem with some currencies around the world and speak passionately about the power of the blockchain to solve some of these problems. Recently, gaining mentions in the Financial Times; Bloomberg and Forbes, as being the ones to watch.
Much like the CryptoBanditz Posse, Reserve cares passionately about the financial wellbeing of the people around the world. It is evident in the principles of the company. They see clearly, the lack of trust and transparency in monetary systems around the world and recognise that without stable access to efficient stores of value and wealth, the people of a country tend to do poorly.
Reserve’s ethical approach to this problem is sound. Rather than focusing on investor returns initially, they’ll focus on creating stability to allow for better returns in the long term. They’re also all about sharing as they plan to share their knowledge and expertise with all, even competitors, as by keeping their experience a secret, Reserve realise they’re harming the creation of scalable prosperity for the globe. Reserve is also committed to self-governance guided by their mission to create scalable success, especially for the citizens of countries with high rates of inflation. Meaning their humanitarian aims are always at the centre of any decision-making process.
Reserve believe that there is a severe lack of transparency and trust in many of the world’s monetary systems. Hundreds of millions of people live in countries without stable currencies, resulting in dramatic losses of wealth. All in all, Reserve are in this space to improve the financial conditions of many across the globe. Focusing their aim on corrupt sheriffs and poorly managed Cryptown’s. Reserve have them in their crosshairs and the ammunition to make an impact in this dusty town. If the more developed nations in the world continue to print their way out of problems and history repeats itself (as it tends to do), then Reserve could be immensely scalable.