Basis is developing a price-stable cryptocurrency (“stablecoin”). A viable stablecoin is a critical infrastructure component for the decentralized economy as price volatility undermines Bitcoin and other cryptocurrencies’ ability to serve most of the existing use cases for which a digital currency would otherwise be ideal. For example, cryptocurrencies present a compelling value proposition to retail merchants on many fronts, including providing immunity to fraudulent chargebacks, and facilitating payments at a small fraction of the fees of credit and even debit card transactions. Yet daily price volatility renders the prevailing cryptocurrencies to be too risky to hold for any merchant that is not interested in adding price speculation to their business model. Similarly, in order for a blockchain enthusiast to transition their salary or savings account onto a cryptocurrency, they must get comfortable with the idea of seeing their savings account and/or paycheck lose ten percent of its value in one hour. Additionally, many of the exciting new functions that cryptocurrencies could serve in the economy require a price-stable cryptoasset. A viable stablecoin would help, for example, realize the vision many blockchain enthusiasts share of providing a universally accessible financial safe haven for billions of people whose local currency suffers from high rates of inflation and currency devaluation.

Why Basis?

We believe the proliferation of blockchain technology will transform numerous industries and drive unprecedented impact — creating a smarter and more inclusive economy. We are therefore excited about companies that help accelerate the progression and adoption of the technology.

A price-stable cryptocurrency will be a powerful catalyst for the maturation of the decentralized economy and wide scale adoption of blockchain technology. Buoyed by deep technical expertise, and a compelling investor and partner network, the Basis team is well positioned to solve this critical problem facing the ecosystem.

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