Oberon Cash is the first stablecoin backed by physical fiat currency.
Oberon Cash tokens are issued on the Waves Platform. You will need a Waves Wallet for your mobile or PC and a small amount of WAVES tokens to cover mining fees when spending Oberon Cash tokens.
Where can I obtain Oberon Cash?
Why should I use Oberon Cash?
At Oberon Group, we believe that the traditional banking system is irreperably broken. When a person deposits money into a bank, it becomes property of the bank. The rightful owner of that money must then ask permission from the bank to use it or withdraw it. Occasionally, the bank will outright refuse to allow this. In most jurisdictions, there is no legal recourse when this happens. We believe the only way to be sure that fiat money is safe is to keep it in cash. As the old saying goes, "Cash is King", although it has its own set of problems.
Cash is bulky. Even in the largest denominations, it's hard to store or transport any significant amount. It's easily stolen, and in many places around the world, it's not only risky, but actually illegal to carry more than a small amount. There are also highly restrictive limits on transporting cash across international borders. Cryptocurrencies were first invented in 2009 in order to address some of these issues, but since those currencies are not backed by some other asset, they suffer from volatility that makes them a poor store of value. Over the last several years, a number of so-called Stablecoins were developed to combine the many benefits of cryptocurrencies with the stability of fiat currency and employ a number of strategies for maintaining that stability.
Many stablecoins are backed by fiat. Currently, all of these keep that fiat in banks, scattered around the world. The consequence of this is that the value of the stablecoin is subject to the bank allowing access to those funds when the time comes to redeem them. If the bank freezes the asset, the stablecoin immediately loses all value. At Oberon Group, we believe the best way to mitigate this risk is to store the fiat instrument as physical cash, thus guaranteeing it is available to redeem when the time comes.
We will be issuing a localized Oberon Cash token in each country that we operate in (eg. OPAB in Panama; OCOP in Colombia). The cash we collect in exchange for tokens will be stored securely, in an auditable fashion, and never deposited in any bank or transported internationally. Tokens can be traded peer-to-peer or on the Waves DEX, used in place of local currency with merchants that accept it, or redeemed for cash at any of our offices.