Investing.com - It's called Saga and it's meant to be everything you usually don't find in a cryptocurrency. No anonymity. No wild price swings.
No initial coin offering.
Saga is the idea of the Swiss foundation of the same name, whose advisory board includes such luminaries as Jacob Frenkel,
former governor of the Bank of Israel and current chairman of JPMorgan (NYSE:JPM) International and Noble Prize-winning economist Myron Scholes.
The idea is to create a complimentary global currency that addresses the concerns of the financial and political establishment.
Instead of an ICO, the foundation will issue Sagas at an initial price of $0. Investors will be entitled to a rising number of the coins as the cryptocurrency grows.
In order to purchase the tokens, investors will be subject to identity checks and must agree to anti money laundering requirements.
Saga's value will be tied to a variable reserve of conventional currencies held at commercial banks.
The foundation plans to launch Saga in the fourth quarter of 2018.
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Here Comes Saga, The Establishment Cryptocurrency
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