South Africa: Stable coin: An anchor in a sea of volatility

December 2020

It was on the 3rd of January 2009, that Satoshi Nakamura mined the first Bitcoin bringing forth into existence the first block of Bitcoin – the Genesis Block. The intention was to create a decentralized alternative medium of exchange to fiat currency (“paper” money not backed by a scarce commodity but rather by Governments and issued by Central Banks). The value of Blockchain – and most crypto currencies are tied to their durability, liquidity, fungibility, visibility, scarcity and the ability to be accepted as legal tender.