Conservative financists to create coin that fits their vision

The new cryptocurrency called Saga will be backed by traditional currencies, and unlike scam projects which sometimes use this claim as a marketing trick, this one based in Switzerland is headed by one of the high-ranking members of JPMorgan Chase and ex-leader of the central bank of Israel. They have little reason to harm their reputation in an outright scam.

Amusingly, Jamie Dimon from JPMorgan Chase called Bitcoin a fraud last year and later told he regrets saying that. Now he can probably endorse Saga in the future as a good alternative for Bitcoin.

Trying to play on one of the most obvious complaints from financial conservatives, scammers often tell that their fraud coins or assets are backed by fiat money, gold or other physical assets. In one of such cases, Maxim Zaslavskiy’s Diamond Reserve Club World (DRC World) and the REcoin Group Foundation have been accused of incorrect information in the marketing materials about the real estate and diamonds backing the assets those two firms offered.

In a positive example, the British Royal Mint is planning to trade expensive tokens which will be directly connected with gold assets this organization possesses.

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