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RE: Tokenization isn't enough.
You're right that it's no longer a currency.
Regardless, it's still globally seen as one of the most trusted means of storing value. This opens a valuable opportunity: a well-trusted global currency. What other material can be globally associated as something valuable?
By tokenizing it, all the problems that removed its existence as a currency no longer serve a hurdle. By giving the tokenized gold a payment network, it becomes digital currency.
I see where you're going. Sound arguement. But then again, value in these spaces is purely perception based. Growing a Stellar, Doge, or Zilliqa to be trusted is just as easy as making a baby boomer trust tokenized Gold.
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The value in the coin is not associated to XLM, but to gold. So, even if XLM (coin) devalues, it won't impact Kinesis and its stabecoins.