Economics professor and Bitcoin critic Nouriel Roubini is working on a tokenized asset designed to be “a more sustainable dollar” in the face of rising inflation, according to Bloomberg.
Roubini is developing new financial products in Dubai-based company Atlas Capital Team. He joined the firm two years ago as co-founder and chief economist.
Roubini sees the asset-backed digital coin as a hedge against rising prices and capitalizing on the surge in demand for land and goods, as well as loss of confidence to fiat.
The economist is concerned about the prospects of the dollar as a world reserve currency. He has noted that dominance could be lost as the US “prints too much money and opponents start dedollarizing.” He added:
“We recognize that the position of the US currency as a reserve currency may be in jeopardy, and we are working to create a new instrument that will actually be a more stable dollar.”
