Akropolis + Dai: creating safeguards against inflation and economic crises through technology

Jul 11, 2019 · 3 min read

MakerDAO and Akropolis share the same goal: contribute to ushering in a more efficient, fairer, accessible financial system for all, regardless of geography. Our mission is to enable the creation of user-owned financial organizations resilient to inflation and systemic shocks, through separating these from the interbank lending system.

Akropolis set out with the objective to build an alternative to the current pensions and social provision, currently representing a debt of over US$47 trillion. In the environment where people move from initial over-reliance on the state to increased self-reliance, the solution to economic resilience lies in the provision of low-cost financial infrastructure that delivers basic financial products with minimal contagion risks. Dai, from MakerDAO, especially the much anticipated multi-collateral Dai, is mission-critical to this.

Stablecoins, especially counter-inflationary stablecoins incl. multi-collateral ones are vital to adoption of any new financial tool or protocol. By its design, multi-collateral Dai fits perfectly into the protocol and adds a much needed layer of stability, transparency and trustworthiness, while conducting limitless financial operations to grow this informal economy.

After extensive research, the team found the most valuable insights in centuries-old community run financial organizations, including ROSCAs, Co-ops, Kenyan Chamas, etc. These organizations, which have limited dependency on the global banking system, have proved to be more resilient to economic turmoil.

Akropolis’ target use cases are countries with high inflation countries in excess of 20%p.a., characterised by absence of deeply entrenched legacy financial infrastructure, nascent fiat/crypto rails and accessible distribution network, typically via mobile operators. Dai is a perfect solution.

“Working with Akropolis unlocks a completely new opportunity for people in countries with high inflation and another powerful use case for Dai” said Rune Christensen, CEO and co-founder of MakerDAO. “Our hope is that access to a decentralized and unbiased currency through Akropolis will create new options for people around the world.”

“We are excited about our integration with Maker, the team has been incredibly supportive and professional from the very first interaction, and we look forward to integrating Dai into our product.” — Ana Andria, Akropolis Founder and CEO.

About Akropolis: Akropolis provides a platform and toolkit for scalable, well-coordinated and transparent informal economies. Akropolis empowers and enables people to build, scale and professionalize informal financial organizations via our comprehensive, user-friendly and complete platform. We take the best of legacy financial systems and through technology, re-engineer them to adapt them to a wider, more inclusive and borderless user base. More info here.

About Dai: Dai is the world’s first unbiased currency. Unlike traditional currencies, it’s impervious to geopolitical instability and manipulation. Dai is the leading decentralized, asset-backed, stablecoin — currently on Ethereum, DAI is built to be blockchain agnostic.

Dai extends the power of traditional currency with the benefits of the blockchain: it can be freely sent to others, used as payments for goods and services, or held as long-term savings. Click here for more.


The Financial Protocol for the Informal Economy