On March 8 2018 Irresident held a lecture titled "Reconciling the Irreconcilable: Public Blockchain & Old School Finance” at “Enter the Blockchain” conference at the University of Economics and Business in Zagreb, Croatia. The lecture was attended by key people of the Croatian blockchain scene, distinguished professors of economics, members of the boards of leading Croatian banks, entrepreneurs, attorneys, and members of the Croatian Central Bank working group responsible for proposing blockchain asset regulation in Republic of Croatia.
Distributed applications on blockchain, along with their models; white papers, yellow papers and other types of documentation are just software – a form of intellectual property. The legal treatment when it comes to its creation, extraction of value, ownership, and the transfer thereof is similar to that of tangible property such as a hotel building.
The notion of stable coin as presently used is probably owed to an ambition to accommodate mechanisms that instead experiment with targeting fiat currency exchange rates, however without necessarily guaranteeing redemption in the fiat currency itself. As explained later in the text, that would not be a bad thing in itself if it were not for the consequential concealing of the very opposite of stability – the volatility.