Hello all!
There is a question I've been asking myself regularly for months now:
How can you build an anchor that uses fiat money in practice?
More precisely: how can one automate the trading (at a fixed rate) between an existing Stellar token > euro(EUR) and inversely?
I'm asking because in the long run, my goal is to set up a GTT/EUR anchor so that the GTT(Gaudia Tech Token) used by my startup is efficiently backed by real euros (just like Tether is USD backed) ?
Using Paypal transactions + manual transfers from/to the Stellar token distribution account seems fine in the very beginning, but it can work only up to a certain point! The main problem is that it's prone to critical errors... You don't wanna see a customer receiving tokens another one paid for!!
Also, you may want to secure / control the distribution account with some stronger methods since your whole business would collapse if tokens are stolen / the (EUR receiving, token sending) is not strictly an atomic operation ? is there already some established knowledge to solve those challenges? Thx!
