We present Bach Money, a decentralized crypto stablecoin platform powered by the Solana blockchain. Over the short history of cryptocurrency, we have seen that its price volatility prevents mass adoption. It makes it hard to plan a budget, pay for necessities, and perform daily financial activities. Stablecoins like USDS, USDC, and EURC, among others, are the answer to mass adoption.
However, crypto's original purpose, some of them are self-custody and decentralization, is hampered by the fact that most stablecoins in the market are centralized. Bach Money's mission is to build a decentralized stablecoin platform to track real-world commodity prices, such as gold, silver, the US dollar, the Euro, and other major Fiat currencies, through an overcollateralized debt position.
The $BACH token acts as the community's government token, allowing it to vote on proposals, decide which real-world assets to track, and govern itself. The non-profit foundation will act as a bootstrapping tool for the decentralized autonomous organization (DAO) and use native Solana governance programs. The foundation will be registered in the Sweish juridical system as ideeel foreningen. Its main activities are related to culture, science, and education in Sweden and Indonesia, which are its pilot main activities territories. The foundation will use the Pareto principle to maintain the budget. The foundation will carry business opportunities to fund its activities. The fields will be information technology, the music industry, and artificial intelligence, among other things.