In developing markets, many people do not have access to a stable currency or even a bank account, but they may have mobile devices with internet connection. Carbon aims to facilitate a more inclusive and efficient global economy by launching reliable, price-stable cryptocurrencies that leverage Hedera Hashgraph’s high throughput and security.
CarbonUSD is a compliant, price-stable cryptocurrency that is one-to-one backed with USD. Starting off with full fiat-collateralization is essential for bootstrapping the market's trust in a stablecoin without depending on the size of an initial reserve. The team has developed a novel mechanism for transitioning to a hybrid fiat-algorithmic stablecoin model once CarbonUSD reaches sufficient scale as a fully fiat-backed token.
By deploying the algorithmic stablecoin on Hedera Hashgraph with Ethereum interoperability, CarbonUSD users will be able to tap into an advanced payments networks where transactions are borderless, have minimal fees, and are settled within seconds. Additionally, CarbonUSD serves as a gateway into the distributed ledger economy where users can trade and hedge against tokenized assets or interact with smart contract applications.
Most societies need stable, sound money to function effectively. CarbonUSD is an accessible alternative for developing economies, where adoption may catalyze the convergence towards a more inclusive and efficient global economy.
Before Carbon, Sam Trautwein was on the founding CS team of Plenty, a Softbank-backed AI hydroponics company. He studied Computer Science with a concentration in AI at Stanford University.
