HKDai is a cryptocurrency which - similarly to the Hong Kong Dollar (HKD) - is soft-pegged to the US Dollar (USD) at a rate of 7.8 HKDai to 1 USD.
As you probably know, Dai is pegged to the USD.
HKDai gives the people of Hong Kong a familiar currency in a digital form, with the benefits of the Ethereum ecosystem.
- requires no bank account - only an Ethereum wallet
- can be sent to anyone, anywhere in the world, within seconds
- has a stable value, as it is pegged to Dai at a constant rate of exactly 7.8 : 1
- cannot be blocked or intercepted by any intermediaries
HKDai in its current form is based on a simple smart contract. The main two features of the contract (in addition to standard ERC20 functions) are: deposit and withdraw.
HKDai is currently in its very first iteration, which means it only supports the bare minimum: deposits/withdraws + basic ERC20 token functionality.
(in particular if you know how to avoid rounding issues when converting between units in Solidity, please DM me!)
Would love to hear good suggestions on good HK organizations - ideally some umbrella org. (Maybe a DAO...)
At the same time, you can of course use HKDai fully anonymously (or at least pseudonymously).
Only gas. The idea is to be able to losslessly convert between Dai and HKDai.
The goal of this is primarily a learning exercise for me + to show what you can easily do with Ethereum.
If anyone else wants to help out, please feel free to get in touch.
In people's struggle for freedom around the world, this might end up being a vital piece of the puzzle.