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The Dollar Won, but Might the U.S. Lose Control of the Dollar?

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Synthetic dollars, in effect, can cost more than “real” dollars because you need to over-capitalize your collateral in order to avoid the risk of losing that alignment with the U.S. dollar. Despite these risks, quite a few blockchain-based digital assets have been established with a peg to the U.S. dollar. The dai, from MakerDAO, is probably the most successful of these, though its backing today includes some U.S. dollar assets. There are others, however, that are pegged purely based on cryptocurrencies and other digital assets that do not connect with the dollar.

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