[PRESS RELEASE – Singapore, Asia, September 19th, 2024]
Harvard Students and Alumni Launch Groundbreaking Native Bitcoin Blockchain Project at Harvard Innovation Labs to Tackle Global Debt Crisis
- Release of “New Bretton Woods Project” (NBW): A Harvard-led effort, quickly to be bred at Harvard Innovation Labs, dealing with the international financial obligation crisis through decentralized financing (DeFi) options.
- Native Bitcoin Stablecoin: NBW is establishing a Bitcoin-backed stablecoin through BeL2 facilities, providing stability while protecting Bitcoin’s decentralization and security.
- Economic Disruption and Resilience: The job intends to improve worldwide financing by leveraging Bitcoin and DeFi to promote financial stability and empower users in the face of increasing international financial obligation.
In a vibrant action to change the international monetary landscape, the Digital Economy Research Initiative, led by a vibrant group of Harvard trainees and alumni, has actually formally released the “New Bretton Woods Project” (NBW). This pioneering blockchain-based effort has actually protected subscription in Harvard’s prominent Innovation Labs and is set to start incubation there in the coming weeks. NBW intends to deal with the intensifying worldwide financial obligation crisis by providing ingenious, technology-driven services.
At the heart of the task is the advancement of a native Bitcoin stablecoin, leveraging the transformative capacity of decentralized financing (DeFi). Constructed on the ingenious BeL2 facilities, NBW intends to improve worldwide monetary systems, opening brand-new possibilities for financial obligation management and monetary stability throughout countries.
With the power of DeFi and blockchain, NBW stands poised to interrupt the status quo, using a strong brand-new course towards financial strength in the face of among the best difficulties of our time. This effort signifies not simply an action, however a leap towards a decentralized, steady and safe financial future.
The task reframes Bitcoin as not simply a shop of worth however the structure of a decentralized monetary system. Utilizing BeL2– Bitcoin’s second-layer option– the NBW task makes it possible for clever agreements for Bitcoin-backed stablecoin building, empowering users to participate in decentralized financing while protecting Bitcoin’s core concepts of decentralization and security.
“Harvard Innovation Labs will assist turn our vision into truth,” stated Jacob, Lead Member of New Bretton Woods (NBW) at Harvard University. “Our objective is to produce a ‘New Bretton Woods’ system anchored in Bitcoin, bringing stability through the energy of a stablecoin. This stablecoin enables users to bypass Bitcoin’s rate volatility while keeping the capacity for long-lasting gain, making the item useful for everyday usage.”
The native Bitcoin stablecoin will be completely backed by Bitcoin, making it possible for users to experience the stability of fiat currency without liquidating their Bitcoin holdings. This uses a balance of algorithmic security utilizing Bitcoin miners and the chance for long-lasting development.
The BeL2 facilities enables decentralized financing applications, where Bitcoin stays firmly on the primary network. Bitcoin can be utilized as security for Layer 2 applications such as decentralized exchanges, loans, and stablecoin issuance. The NBW group guarantees that all Bitcoin-related settlements take place on the Bitcoin primary network for optimal security.