The Brale Stable Coin (SBC) White Paper
Below is a viewable PDF of the Stable Coin (SBC) white paper including feedback from the previous SBC post.
Download the Stable Coin (SBC) whitepaper from IPFS.
We’re looking for feedback on our approach
The most prescient feedback was in the form of compatibility with existing networks, ecosystems, and blockchains. This surprised us a bit because it called out the community's desire for these technologies to work as seamlessly as possible with existing systems.
We received some constructive feedback and guidance around collaborating with market makers and centralized exchanges. While this feedback was not inherently included in this latest update, it has informed some additional thinking and discussions. In a nutshell, we're hopeful SBC can continue to serve as a learning ground for us and others so that it's easier for others in the future to roll out their own digital dollar stablecoins.
What we were surprised not to see
We were surprised we didn't get more feedback on our approach to Treasury or attestations. We hypothesize that this is due to best practices already being reasonably evident in the market, including regular attestations, outside audits, and on-chain references. These sections were largely untouched as a result.
Our work on permissioned ecosystems resulted in a few discussions. However, during feedback sessions, we learned from others that it's fairly obvious and may make the technology much easier for some entities to take advantage of. Although operating permissioned chains have drawbacks from a decentralization standpoint, it is a required combination of technology & controls to enable traditional financial entities to align with best practices from a privacy perspective.
How we'll modify Stable Coin in the future
The SBC white paper is not full of provocative ideas but does lay a foundation we can build from and continue to update in the future.
SBC is an archetype for the fiat-backed stablecoin or digital dollar we enable others to deploy. It is not actively for sale and is currently in an Alpha testing phase. We'd love to hear from you if you have an application for a bespoke stablecoin or use for SBC.
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