A "Fourth Currency" Type Is Currently Being Developed in Wyoming

In what appears to be one of the most interesting petitions ever filed with the United States Securities and Exchange Commission, a Wyoming blockchain developer is seeking approval for a couple of stablecoin tokens that are different from the likes of Tether and USDC. American CryptoFed DAO is seeking approval to launch two projects: Ducat and Locke, but the company's SEC filing seeks recognition as a decentralized autonomous organization, which is a preemptive move to avoid being considered an issuer of unregistered investment securities.

It should also be noted that Wyoming is an ideal state for the development of the new form of money that many are calling the "fourth currency." The state has a tradition of not interfering with industry that is developing within the boundaries of its laws, and it has been supportive of blockchain, digital currency and bitcoin since its very inception.

The filing outlines in considerable detail the history of blockchain and bitcoin from its early origins in 2009 to its current state in 2018, touching upon many of the important events that have taken place in this space. As an indication of how far it has come, American CryptoFed DAO lays out a vision for the future of money, although it should be noted that utility tokens do not necessarily compete against established digital currencies such as Bitcoin.

Of course, in developing a platform for the advancement of digital money, American CryptoFed also has to deal with an existing financial system that is rife with problems of its own, from systemic vulnerabilities, to high fees and insufficient oversight. The DAO project is seeking to address these issues by proposing two innovative solutions: a secure, blockchain-based platform for stable money, and a suite of tools for the creation of new and interesting forms of money, all with a focus on interoperability and interdependence.

A significant step forward for the development of digital currency and blockchain technology in the U.S. would be the implementation of a regulatory framework to facilitate the development of the space. The American CryptoFed DAO initiative is likely to be in the front ranks of many entrepreneurs interested in building and developing the next generation of currency in the United States.