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Cardano Ecosystem

Input Output

03/06/2024

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Announcing XSY: accelerate economic value

In October 2023, Input Output Global shared some exciting news announcing the appointment of W. Sean Ford as CEO and David Markley as COO for a new stablecoin venture.

Announcing XSY: accelerate economic value

In October 2023, Input Output Global shared some exciting news announcing the appointment of W. Sean Ford as CEO and David Markley as COO for a new stablecoin venture. We are excited to introduce XSY (pronounced ‘eksy’) as one of the most recent IOG businesses to be created.

At the core of every blockchain ecosystem is an economic engine aspiring to bring new development and unlock new opportunities for everyone in their community. Most often, economic activity is encouraged in two ways: the development of applications and the creation of all types of digital assets (tokens, NFTs, stablecoins, etc.). More often than not, the current strategy is simply to create a token or issue an asset in the hope that it will gain traction within a broader ecosystem.

While often employed, this 'Field of Dreams' approach is rarely successful and reflects an immature understanding of blockchain ecosystem development and value creation. XSY is here to change that by taking a systemic approach to accelerating economic activity and use by building an integrated set of capabilities and partnerships designed to deliver more predictable outcomes through deepening market access and usage and expanding economic activity.

A shared understanding of value creation

Making matters worse, the ability to assess and understand the economic health and underlying economic value resident within blockchain ecosystems is currently dependent on a series of inconsistently measured and selectively applied performance indicators. The lack of consistent and accepted value metrics has created an environment of community self-reporting and a pervasive “number go up, project is good” mentality across the industry. This approach is ultimately insufficient in representing a complex ecosystem's full set of capabilities, technical properties, participants and latent potential within and across different networks. Akin to many tested economic health measurements that exist within the traditional financial world and across broad economic markets, we must establish and develop similar consistent measurements in blockchain economies for a more meaningful understanding of these systems and their underlying value.

Inclusivity and stability in a volatile world

The global financial system and macro economies are plagued by inefficiencies - high costs in cross-border transactions, inaccessible financial services, and extreme currency or price volatility in developing countries – that prevent large parts of the global population from accessing basic goods or services or from earning a sustainable income and creating wealth. The next chapter in unlocking economic access and wealth creation will be written on chain. At XSY, we will help author this narrative by providing the tools for delivering trusted technology with partners to ultimately enable a series of innovative and diverse digital assets that complement traditional financial tools as well as fiat-backed stablecoins. XSY will promote broader blockchain adoption and more efficient financial services and commerce. Beyond measurement, our goal is to ultimately create a capital efficient system that does not unnecessarily encumber more assets in collateral than it unlocks in value.

'At XSY, we recognize the critical role of stable assets in mitigating uncertainties, reducing transaction costs, and enabling a seamless flow of commerce. Our focus is not just on economic principles and the supporting ecosystem but also on practical relevance. We aim to amplify liquidity in burgeoning blockchain ecosystems while establishing trust across the global blockchain landscape', said XSY CEO W. Sean Ford.

Follow XSY on X (FKA Twitter) @xsy_fi or LinkedIn for more updates.

Sean Ford

CEO, XSY

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Read Original Article on Input Output

ORIGINAL SOURCE

https://iohk.io/en/blog/posts/2024/02/28...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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