I've seen people float the idea of a smartcoin pegged to some basket of commodities; call it FOOD or something if you want it to have a constant purchasing power for food items. We'd need to agree on a good basket.
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The best food basket would be coffee, curry, salad, and burgers but of course that's just my personal preference :)
More seriously, since food prices fluctuate due to changes in supply and demand... what happens if there is a flood or a drought? I don't see who takes the risk in order to give me my coffee curry and burgers at the same price I paid yesterday.
Water perhaps? Though it would have different values around the world..
I like the look of ALTCAP.XDR because it's a basket currency created by the IMF, but it's only applied against 5 currencies. https://www.imf.org/external/np/fin/data/rms_sdrv.aspx
The CFETS basket currency by comparison is based on 24 currencies: http://www.chinamoney.com.cn/english/svcnrl/20161229/2047.html
Do you think there would be interest in an MPA based on CFETS?