Fact Checking the Palau Stablecoin Pilot Project

Is the Palau Stablecoin (PSC) a new cryptocurrency akin to Bitcoin?

It is not. It is a digitized payment system tokenizing the USD and using Blockchain technology (xrpl). The solution is akin to Alipay, a Chinese digital payment system used in Palau for many years without requiring a special law to be passed.

Does the process hide where the pilot money is spent and where it goes?

The public ledger is fully transparent, and all money and spending is 100% visible, traceable, and attributable.

Is there a high risk for money laundering with PSC?

The public ledger is fully transparent and KYC/AML/CFT compliance strictly enforced. All money and spending is 100% visible, traceable, and attributable. It is impossible to launder money using PSC.

Are the grant programs in Palau bad for the Government, society, and rule of law?

Palau has accepted a myriad of ongoing research and development grants worth millions of dollars for the K9 dog program, Palau National Marine Sanctuary, Agriculture, and dozens more.

Hopefully time and effort for research is being conducted to avoid any further disinformation. If adopted, the Palau Stablecoin can help mobilize Palau’s economy and government processes to improve financial transactions and empower citizens.

For further information about the Palau Stablecoin please visit https://www.palaugov.pw/stablecoin