Open letter to UN
WDX has forward a copy of a letter addressed to them penned by development economist Silvano Stagni. It is an open letter in response to the UN’s recent acknowledgment that a basket could assist “Retooling Global Development”. WDX, the owner and distributor of the WOCU, has included a whitepaper, entitled ‘a matter of TrUSt’, also written by Mr Stagni that explores the matter in more detail. Mr Stagni proves that the basket used has to be carefully chosen and based on apolitical foundations.
Michael King head of WDX said, “We remain steadfast in our view that a practical, apolitical, currency basket has a major role to play in a new financial architecture. We are claiming to be the first and major component of this architecture since the WOCU basket enables a practical and available way to reduce currency volatility. We have been influenced by the thinking behind the Bancor and the SDR and have improved on both, a reason we have seen increasing traction in the take-up by Exchanges and Data vendors of the WOCU less than one year after the WOCU was formally introduced.”