Ido Sadeh Man | Source | Founder & Foundation Council President at Sögur Monetary Technologies

The idea is to create a stabilization coin that operates on a variable fractional reserve system. That means its price can rise and fall, depending on the amount held on deposit. That amount will fluctuate in proportion to the usage of the coin.

Unlike other players, we don’t want to be the issuer and the payments layer and the custodian. We’re focusing on the monetary part of it, on the issuance of a sound currency for global use, and we will increasingly liaise with partnerships in the realms of custodianship and of payments.

We didn’t want to do an ICO. It didn’t look reasonable to start a low-speculation and low-volatility vehicle by launching a high-speculation and high-volatility process.