Anchor stable currency was created to help you preserve and enhance the value of your holdings. Anchor Founder and CEO, Daniel Popa, will be discussing the new financial standard and stable currency with us in this Interview
Please tell us your name and about yourself.
My name is Daniel Popa, and I’m the Founder and CEO of Anchor (theanchor.io). As a serial entrepreneur, I have launched 12 companies in the fields of software development, telecommunications, and technology. I am passionate about the potential for Anchor to provide a stable and predictive store of value that is lacking in all other currencies, fiat and crypto alike. Prior to Anchor, I developed new models for outdated systems and VOIP networks, which led to the creation of my first company, NECC, which eventually grew to more than 600 employees in the US and several thousand contractors around the world. NECC revenues reached approximately $54 million per year after just two years of inception.
What is Anchor?
The Anchor financial standard and two-token system is designed to provide a trusted, transparent store of value that appreciates over time. The Anchor stablecoin is pegged to a proprietary financial index developed by the Anchor team called the Monetary Measurement Unit (MMU), which is tied to the real growth of the global economy. The algorithm calculating global growth is based on the real GDP of more than 190 countries, further protected by a safetynet of six economic, financial, and algorithmic pillars.
What is the main issue Anchor seeks to address?
Today’s global economy lacks a currency that can be a stable, predictive store of value and a trusted financial index. Government-backed currencies, such as USD, depreciate in value over time. Cryptocurrencies, which introduced borderlessness and eliminated the need for centralized intermediaries, are highly volatile, and therefore cannot be trusted as safe stores of value. Stablecoins have attempted to fill this void but have fallen short, as many are pegged to fiat currencies, which lose value over time, or to other cryptocurrencies, which continue to be extremely volatile.
What is Anchor’s solution and how does it work?
Though individual economies fluctuate year-to-year, the global economy increases at an average rate of 2.5% each year. Thus, by basing the MMU on world economic growth and by pegging the value of Anchor to the MMU, the Anchor stablecoin is guaranteed to increase in value annually. Anchor’s two-token system, backed by six economic, financial, and algorithmic pillars, is designed to further protect against market volatility and inflation.
What differentiates Anchor from other stablecoins?
Anchor is crucially differentiated from other digital assets on the market by its value peg, the MMU, which ensures a stable and predictable price of Anchor. This, in turn, provides a dependable store of value and financial standard for individuals and businesses to protect their capital or use Anchor as a platform to develop their own financial or commercial products. Though there are numerous stablecoins, none is truly a stable store of value and many suffer from other issues. Tether, for example, lacks transparency, and TrueUSD is tied to the US dollar, which depreciates over time.
Why should investors be interested in Anchor? What are the greatest benefits?
Investors, traders, government entities, and companies can all benefit from Anchor because it safeguards investments against inflation and volatility, and guarantees appreciation over time. If a crypto company, for example, raises $30M in ETH, it will probably want to store that value in a currency that is not volatile (i.e. ETH) and does not depreciate over time (i.e. USD). Anchor will provide, not only stability, but guaranteed, predictable appreciation in value over time based on the MMU.
What’s the long-term vision for Anchor?
Our vision is to create the foundation for a sustainable and healthy global economy with the Anchor ecosystem as a backbone of stability, transparency, predictability, and trust. We intend to bridge the gap between fiat and crypto so that these economies become one. Down the line, our goal is to become the new financial standard that supports a thriving and stable global economy.
Do you have more information for our readers?
The team looks forward to introducing themselves and Anchor to attendees at the Blockchain Economy Summit in Istanbul, an event that Anchor will be co-sponsoring on February 20th. Please feel free to check out the following resources for more information and to stay up-to-date on our progress.
White paper: https://theanchor.io/whitepaper/