Blockchain company Saga announces token as an
alternative to Libra
olleux.io
Following Facebook’s
announcement of its digital currency project, Libra, many crypto-enthusiasts
saw it as a challenge and began working on a derivation of the social media
giant’s project. Similarly, Saga, a blockchain firm, has announced the launch
of its new token, Saga [SGA], claiming that its project is an alternative to
Facebook’s digital currency proposal.
The London-based blockchain firm defined its crypto-project as, The firm claimed that the token will replicate the mechanics of central bank national currencies and apply them on a global scale, while being tied to a basket of currencies to maintain SGA’s stable value. Unlike Libra, SGA will be pegged to bank deposits in the same group of currencies that form the International Monetary Fund’s special drawing rights [SDR].
The London-based blockchain firm defined its crypto-project as, The firm claimed that the token will replicate the mechanics of central bank national currencies and apply them on a global scale, while being tied to a basket of currencies to maintain SGA’s stable value. Unlike Libra, SGA will be pegged to bank deposits in the same group of currencies that form the International Monetary Fund’s special drawing rights [SDR].
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