Nouriel Roubini to Develop a Tokenised Replacement for the Dollar

Economist and critic of Bitcoin Nouriel Roubini is working on a tokenized asset designed to be a ‘more stable dollar’ amid rising inflation. Bloomberg reports.

Roubini is developing new financial products at Dubai-based Atlas Capital Team. He joined the firm two years ago as a co-founder and chief economist.

Roubini believes that an asset-backed digital coin could serve as a hedge against inflation and allow him to profit from the sharp rise in demand for land and commodities, as well as the erosion of trust in fiat money.

The economist shares concerns about the dollar’s prospects as a global reserve currency. Its dominance could be eroded as the United States ‘prints too much money, and opponents begin dedollarisation,’ he noted.

‘We recognise that the dollar’s position as a reserve currency could be under threat, and we are working on creating a new instrument that will effectively be a more stable dollar,’ Roubini said.

As reported in November 2021, the economist forecast a mass shift by states to CBDCs переход государств на расчеты в СВDС.