The Saga Foundation, a non-profit organisation based in Switzerland, is planning to launch a new cryptocurrency in the last quarter of 2018, according to the Financial Times. The project is notable because of the qualifications of its founders.
The advisory board of Saga consists of names such as Jacob A. Frenkel (Chairman of JPMorgan Chase and former governor of the Bank of Israel), Myron Scholes (Nobel Laureate in Economic Sciences), and Leo Melamed (founder of the National Futures Association and Chairman Emeritus of the CME). The team also includes a co-founder of Bancor, a co-founder of Sirin Labs, professors from Cornell University and the Hebrew University of Jerusalem, and a consultant to the IMF.
Variable reserve
The currency, SGA, is to be asset-based, with its value tied to a "variable reserve of conventional currencies, hosted by reputable banks". This reserve will include funds used to buy SGA tokens. According to the website, the purpose of the reserve "is to ensure participants can sell SGA; the contract will always offer to buy SGA, drawing on funds from the reserve." Participants can buy the tokens with ETH or fiat currencies.
The selling point really is that the price of the coin will be relatively stable. The official website says that while it will fluctuate with the market to a certain extent, the reserve will act as a buffer, leading to price movement being "moderated by the interplay between the money supply and the reserve".
The SGA supply will be altered according to the Smart Contract
Smart Contract
A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist each time a song is played on the radio. The contract detects when the song is played, and then automatically sends a payout to the artist or artist. All parties involved in a smart contract must agree to the terms of the contract before it can be executed. They must also consent to any changes made to the contract. Transactions made through a smart contract are traceable and irreversible.Smart contracts were first proposed in 1994 by American computer Scientist Nick Szabo. Szabo created a digital currency called “Bit Gold” in 1998, over 10 years before the creation of Bitcoin.Benefits of Smart ContractsMany proponents of smart contracts point to many kinds of contractual clauses that could be made partially or fully self-executing, self-enforcing, or simply both. Conversely, smart contracts can lead to a situation where bugs or including security holes are visible to all yet may not be quickly fixed.The fundamental goal of smart contracts is to provide additional layers of security that are superior to traditional contract law. In doing so, this reduces other transaction costs associated with contracting. Smart contracts appear most prevalently in the cryptocurrency space, having implemented countless instances of smart contracts.
A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist each time a song is played on the radio. The contract detects when the song is played, and then automatically sends a payout to the artist or artist. All parties involved in a smart contract must agree to the terms of the contract before it can be executed. They must also consent to any changes made to the contract. Transactions made through a smart contract are traceable and irreversible.Smart contracts were first proposed in 1994 by American computer Scientist Nick Szabo. Szabo created a digital currency called “Bit Gold” in 1998, over 10 years before the creation of Bitcoin.Benefits of Smart ContractsMany proponents of smart contracts point to many kinds of contractual clauses that could be made partially or fully self-executing, self-enforcing, or simply both. Conversely, smart contracts can lead to a situation where bugs or including security holes are visible to all yet may not be quickly fixed.The fundamental goal of smart contracts is to provide additional layers of security that are superior to traditional contract law. In doing so, this reduces other transaction costs associated with contracting. Smart contracts appear most prevalently in the cryptocurrency space, having implemented countless instances of smart contracts.
Read this Term - when the economy expands, more SGA tokens will be released, and vice versa. The aim of this is to prevent rampant de- and inflation.
Inverse relationship
The project recognises that the value of the coin is only partly based on the reserve: "While stability is prized, the limitation is clear: in a fully backed currency there can be no price appreciation." The currency will still rely on the "inherent value" of market trust as all currencies do.
There will be an inverse relationship between the reserve and the inherent value; the more value the coin has, the less the reserve will be needed. The reserve is intended to act as a stabiliser during the early stages of the currency's development. As the website explains: "When the economy is small－and the inherent value is especially volatile － Saga applies a high reserve ratio, supporting stability."
Security
Saga does not intend to allow anonymity amongst users of the coin, requiring owners to register their identities and pass anti-money laundering checks. According to the Financial Times, "it will allow national authorities to check the identity of a Saga holder when required."
The foundation has already raised 30 million USD from investors, and intends to increase its staff from 25 to 70 this year, according to the FT. Founder and president of Saga, Ido Sadeh Man, said: “We didn’t want to do an ICO. It didn’t look reasonable to start a low-speculation and low- Volatility
Volatility
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders can be successful in both low and high volatile environments, but the strategies employed are often different depending upon volatility. Why Too Much Volatility is a ProblemIn the FX space, lower volatile currency pairs offer less surprises, and are suited to position traders.High volatile pairs are attractive for many day traders, due to quick and strong movements, offering the potential for higher profits, although the risk associated with such volatile pairs are many. Overall, a look at previous volatility tells us how likely price will fluctuate in the future, although it has nothing to do with direction.All a trader can gather from this is the understanding that the probability of a volatile pair to increase or decrease an X amount in a Y period of time, is more than the probability of a non-volatile pair. Another important factor is, volatility can and does change over time, and there can be periods when even highly volatile instruments show signs of flatness, with price not really making headway in either direction. Too little volatility is just as problematic for markets as too much, we uncertainty in excess can create panic and problems of liquidity. This was evident during Black Swan events or other crisis that have historically roiled currency and equity markets.
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders can be successful in both low and high volatile environments, but the strategies employed are often different depending upon volatility. Why Too Much Volatility is a ProblemIn the FX space, lower volatile currency pairs offer less surprises, and are suited to position traders.High volatile pairs are attractive for many day traders, due to quick and strong movements, offering the potential for higher profits, although the risk associated with such volatile pairs are many. Overall, a look at previous volatility tells us how likely price will fluctuate in the future, although it has nothing to do with direction.All a trader can gather from this is the understanding that the probability of a volatile pair to increase or decrease an X amount in a Y period of time, is more than the probability of a non-volatile pair. Another important factor is, volatility can and does change over time, and there can be periods when even highly volatile instruments show signs of flatness, with price not really making headway in either direction. Too little volatility is just as problematic for markets as too much, we uncertainty in excess can create panic and problems of liquidity. This was evident during Black Swan events or other crisis that have historically roiled currency and equity markets.
Read this Term vehicle by launching a high-speculation and high-volatility process.”
“We are not aiming for Saga to replace any national fiat currencies, but to be a complementary global currency,” he said. “We are targeting people who are holding digital currencies and looking for safe harbours from the raging volatility.”
The Saga Foundation, a non-profit organisation based in Switzerland, is planning to launch a new cryptocurrency in the last quarter of 2018, according to the Financial Times. The project is notable because of the qualifications of its founders.
The advisory board of Saga consists of names such as Jacob A. Frenkel (Chairman of JPMorgan Chase and former governor of the Bank of Israel), Myron Scholes (Nobel Laureate in Economic Sciences), and Leo Melamed (founder of the National Futures Association and Chairman Emeritus of the CME). The team also includes a co-founder of Bancor, a co-founder of Sirin Labs, professors from Cornell University and the Hebrew University of Jerusalem, and a consultant to the IMF.
Variable reserve
The currency, SGA, is to be asset-based, with its value tied to a "variable reserve of conventional currencies, hosted by reputable banks". This reserve will include funds used to buy SGA tokens. According to the website, the purpose of the reserve "is to ensure participants can sell SGA; the contract will always offer to buy SGA, drawing on funds from the reserve." Participants can buy the tokens with ETH or fiat currencies.
The selling point really is that the price of the coin will be relatively stable. The official website says that while it will fluctuate with the market to a certain extent, the reserve will act as a buffer, leading to price movement being "moderated by the interplay between the money supply and the reserve".
The SGA supply will be altered according to the Smart Contract
Smart Contract
A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist each time a song is played on the radio. The contract detects when the song is played, and then automatically sends a payout to the artist or artist. All parties involved in a smart contract must agree to the terms of the contract before it can be executed. They must also consent to any changes made to the contract. Transactions made through a smart contract are traceable and irreversible.Smart contracts were first proposed in 1994 by American computer Scientist Nick Szabo. Szabo created a digital currency called “Bit Gold” in 1998, over 10 years before the creation of Bitcoin.Benefits of Smart ContractsMany proponents of smart contracts point to many kinds of contractual clauses that could be made partially or fully self-executing, self-enforcing, or simply both. Conversely, smart contracts can lead to a situation where bugs or including security holes are visible to all yet may not be quickly fixed.The fundamental goal of smart contracts is to provide additional layers of security that are superior to traditional contract law. In doing so, this reduces other transaction costs associated with contracting. Smart contracts appear most prevalently in the cryptocurrency space, having implemented countless instances of smart contracts.
A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist each time a song is played on the radio. The contract detects when the song is played, and then automatically sends a payout to the artist or artist. All parties involved in a smart contract must agree to the terms of the contract before it can be executed. They must also consent to any changes made to the contract. Transactions made through a smart contract are traceable and irreversible.Smart contracts were first proposed in 1994 by American computer Scientist Nick Szabo. Szabo created a digital currency called “Bit Gold” in 1998, over 10 years before the creation of Bitcoin.Benefits of Smart ContractsMany proponents of smart contracts point to many kinds of contractual clauses that could be made partially or fully self-executing, self-enforcing, or simply both. Conversely, smart contracts can lead to a situation where bugs or including security holes are visible to all yet may not be quickly fixed.The fundamental goal of smart contracts is to provide additional layers of security that are superior to traditional contract law. In doing so, this reduces other transaction costs associated with contracting. Smart contracts appear most prevalently in the cryptocurrency space, having implemented countless instances of smart contracts.
Read this Term - when the economy expands, more SGA tokens will be released, and vice versa. The aim of this is to prevent rampant de- and inflation.
Inverse relationship
The project recognises that the value of the coin is only partly based on the reserve: "While stability is prized, the limitation is clear: in a fully backed currency there can be no price appreciation." The currency will still rely on the "inherent value" of market trust as all currencies do.
There will be an inverse relationship between the reserve and the inherent value; the more value the coin has, the less the reserve will be needed. The reserve is intended to act as a stabiliser during the early stages of the currency's development. As the website explains: "When the economy is small－and the inherent value is especially volatile － Saga applies a high reserve ratio, supporting stability."
Security
Saga does not intend to allow anonymity amongst users of the coin, requiring owners to register their identities and pass anti-money laundering checks. According to the Financial Times, "it will allow national authorities to check the identity of a Saga holder when required."
The foundation has already raised 30 million USD from investors, and intends to increase its staff from 25 to 70 this year, according to the FT. Founder and president of Saga, Ido Sadeh Man, said: “We didn’t want to do an ICO. It didn’t look reasonable to start a low-speculation and low- Volatility
Volatility
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders can be successful in both low and high volatile environments, but the strategies employed are often different depending upon volatility. Why Too Much Volatility is a ProblemIn the FX space, lower volatile currency pairs offer less surprises, and are suited to position traders.High volatile pairs are attractive for many day traders, due to quick and strong movements, offering the potential for higher profits, although the risk associated with such volatile pairs are many. Overall, a look at previous volatility tells us how likely price will fluctuate in the future, although it has nothing to do with direction.All a trader can gather from this is the understanding that the probability of a volatile pair to increase or decrease an X amount in a Y period of time, is more than the probability of a non-volatile pair. Another important factor is, volatility can and does change over time, and there can be periods when even highly volatile instruments show signs of flatness, with price not really making headway in either direction. Too little volatility is just as problematic for markets as too much, we uncertainty in excess can create panic and problems of liquidity. This was evident during Black Swan events or other crisis that have historically roiled currency and equity markets.
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders can be successful in both low and high volatile environments, but the strategies employed are often different depending upon volatility. Why Too Much Volatility is a ProblemIn the FX space, lower volatile currency pairs offer less surprises, and are suited to position traders.High volatile pairs are attractive for many day traders, due to quick and strong movements, offering the potential for higher profits, although the risk associated with such volatile pairs are many. Overall, a look at previous volatility tells us how likely price will fluctuate in the future, although it has nothing to do with direction.All a trader can gather from this is the understanding that the probability of a volatile pair to increase or decrease an X amount in a Y period of time, is more than the probability of a non-volatile pair. Another important factor is, volatility can and does change over time, and there can be periods when even highly volatile instruments show signs of flatness, with price not really making headway in either direction. Too little volatility is just as problematic for markets as too much, we uncertainty in excess can create panic and problems of liquidity. This was evident during Black Swan events or other crisis that have historically roiled currency and equity markets.
Read this Term vehicle by launching a high-speculation and high-volatility process.”
“We are not aiming for Saga to replace any national fiat currencies, but to be a complementary global currency,” he said. “We are targeting people who are holding digital currencies and looking for safe harbours from the raging volatility.”
