*ISC = International Stable Currency and it ain’t a stablecoin

Imagine having money that is mostly resistant to inflation. The government is not able to do shit to change your value. And, you have the ability to become a part of a community that has a say in the working of your own money.

All this may seem god-like in the current world of fiat currencies and USD-pegged stablecoins, but this is what ISC has to offer. The following is a deep dive into the ISC Stablecoin on Solana.

ISC is a flat coin pegged to the value of an underlying basket of real-world assets, not the US dollar.

That’s ISC’s mission statement 🤣

That’s ISC’s mission statement 🤣

I’ll start with a very simple explanation of stablecoin and go into much more detail about ISC further on in the essay.

<aside> 💡 A stablecoin is a cryptocurrency whose price does not fluctuate very much.

</aside>

ISC is a stablecoin → ISC’s price does not fluctuate very much.

You might be wondering, what is the purpose of a cryptocurrency whose price does not fluctuate very much?

Stablecoins serve two main purposes —

1. They function as an intermediate between economies.
2. They provide a way to deal with the volatility that is present in the crypto market.

Serving as a bridge between economies

Stablecoins act as an intermediary to facilitate the conversion of cryptocurrencies to fiat currencies. In the past, converting cryptocurrencies to physical currencies was challenging and time-consuming. Options such as finding a willing counterparty or using centralized exchanges had limitations, including high transaction costs, difficulty finding a counterparty during market volatility, and longer transaction times. Stablecoins address these issues by providing stability and scalability, enabling smoother transfers between the crypto and fiat economies.