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Ven information

19:53 02/01/14

Jake Vartanian said: How many ven are there? How many Ven will there be? What makes them valuable? What stops the owners from producing unlimited amounts?

Can I find answers to any of these questions somewhere?

4 remarks. Add yours. Latest remark.

1. Jan 2nd, 2014
21:04

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Stan Stalnaker Hi Jake - there are wikis and discussion points in the Ven Currency group here on Hub Culture. Unlike other digital currencies, Ven is an asset backed currency, so there is an underlying reserve related to Ven issuance linked to the core components of Ven - a mix of currencies, commodities and carbon. This 100% asset backing helps to make Ven both very stable and very conservative, and allows us to price the Ven economy as a type of hedge. The mix of economic use and currency backing are what give Ven its value. Ven issued algorithmically at purchase and is only sold through Hub Culture, where it is released from an offline 'glacier' as 'melt' - into circulation. When Ven is spent in the Hub economy, it returns to the glacier, awaiting future use.

Ven itself is managed by the Ven Central Reserve Board - an independent group of experts that manage monetary policy and other aspects of the currency.

Hope that helps, let us know if you need more!

stan

2. Jul 21st, 2014
22:16

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Leon-Gerard Vandenberg Hi Stan,

How is the mix of currencies, commodities and carbon calculated and balanced is this a private formulae or can you share?
Who or What businesses are on the Ven Central Reserve Board?

Thanks

Leon-Gerard Vandenberg

3. Jul 24th, 2014
01:01

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Stan Stalnaker Hi Leon - we don't publicise the exact formulation of the basket but it does include major currencies with USD, GBP, RMB, EUR, BRL, CHF, HKD, SGD, AUD, AED, YEN, CAD, and gold, silver, carbon, brent crude, soy, wheat, silver. The Central Reserve Board includes not companies, but individual board members who oversee the Ven Trust, which is the entity issuing Ven through the Glacier - the cold storage facility for Ven that runs off an algorithm to deliver Ven to members at the point of purchase. We don't publicly list the board members but do provide this information to institutional clients and regulators. Hope that helps!

best
stan

4. Apr 2nd, 2017
17:57

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Edward Ladd Is this still a active group