Basket Currency Could Be the Answer to Hyperinflation, Says Founder of Saga

Ido Sadeh Man, founder of the global stabilized digital currency, Saga, spoke with Cointelegraph in an interview on May 15. During the interview, he said that a digital currency backed by a basket of strong fiat currencies, along with Bitcoin, could be the answer to the world economy’s current financial turmoil.

Money printing isn’t sustainable

Ido believes that the hyperinflation being induced by central banks will lead to problems down the road. He said:

“It is a solution that will bring very undesirable results In the long run.”

However, according to Ido, a basket of currencies would be inherently more fluctuation-resistant.

Ido suggests the SDR, which is a basket of reserve currencies that includes Saga. It comprises the USD, the Euro, the British Pound, the Japanese Yen, and the Chinese Yuan. Man explained that the SDR is robust against price fluctuations caused by a single currency, and is therefore capable of mitigating risk. He went on to state that:

“When some of the…