Economist and Bitcoin critic Nouriel Roubini is reportedly working on the development of a tokenized asset designed to be a “stronger dollar” in the face of rising inflation, Bloomberg reports.
Roubini is developing new financial products in Dubai-based company Atlas Capital Team. He has joined the firm two years ago as co-founder and chief economist.
Roubini is looking to the asset-backed digital coin as a hedge against price increases and to capitalize on the surge in demand for land and goods, as well as the loss of confidence in fiat.
The economist is concerned about the prospects for the dollar as a world reserve currency. According to him, dominance could be lost as the US “prints too much money and opponents start de-dollarization.” He has 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 stronger dollar.”