BitShares gives us the ability create digital currencies pegged to any price. These digital currencies are called BitAssets, and they track traditional currencies and commodities, like dollars, yuan and gold. BitAssets can track anything with a price, though, so why track those? They have the most stable value available to mankind, but they’re really not all that stable. Gold fluctuates a lot. We think of dollars and yuan as stable, but we all know they lose a few percentage points of value each year to inflation. Today’s dollar is worth less than half of what it was worth thirty years ago.

What we really want is a perfectly stable store of value over time, but we don’t even have a good way of measuring value. To measure distance, we use the meter: one ten-millionth of the distance from the Equator to the North Pole. To measure mass, we use the gram: the mass of a milliliter of water. To measure value, let’s use the bill.

The bill is the purchasing power of one U.S. dollar on January 1, 2015 in Austin, Texas.

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