Economics professor and bitcoin critic Nouriel Roubini is working on a tokenized asset designed to become a “more stable dollar” in the face of rising inflation. This was reported by Bloomberg.
Roubini is developing new financial products at Dubai-based Atlas Capital Team. He joined the firm two years ago as co-founder and chief economist.
Roubini expects the asset-backed digital coin to be a hedge against rising prices and to capitalize on the sharp demand for land and commodities, as well as the loss of confidence in fiat.
The economist shares concerns about the dollar’s prospects as the world’s reserve currency. The dominant position could be lost as the U.S. “prints too much money and opponents begin to de-dollarize,” he said.
“We recognize that the U.S. currency’s position as a reserve currency may be in jeopardy, and we are working to create a new instrument that will actually be a more sustainable dollar,” Roubini added
As a reminder, in November 2021, the economist predicted a massive shift of nations to U.S.-dollar settlements.