After the collapse of Terraform Labs’ cryptocurrency, Terra (LUNA), and its stablecoin, Terra (UST), the notion of “algorithmic stabilization” has fallen to a low point in popularity, both in the cryptocurrency world and among mainstream observers.
This emotional response, however, is strongly at odds with reality. In fact, algorithmic stabilization of digital assets is a highly valuable and important class of mechanism whose appropriate deployment will be critical if the crypto sphere is to meet its long-term goal of improving the mainstream financial system.
Ben Goertzel is the CEO and founder of SingularityNET. He served previously as a director of research at the Machine Intelligence Research Institute, as the chief scientist and chairman of AI software company Novamente LLC and as chairman of the OpenCog Foundation. He graduated from Temple University with a PhD in mathematics.