Price-stable, decentralized, private, digital money storage. Owned and controlled solely by you.
Haven is an untraceable cryptocurrency that proposes a mix of standard market pricing and stable fiat value storage without an unsustainable peg or asset backing. It will achieve this by using a built in on-chain smart contract that controls the minting and burning of coins to facilitate value for users that choose to send their coins to offshore storage contracts while allowing everyone else to be exposed to the natural price movements of the currency.
Haven is a fork of Monero so inherits the stealth and anonymity that it’s famous for. Haven also has the benefit of starting the blockchain from scratch with RingCT for extra privacy. Further, Haven’s offshore storage smart contract allows privacy conscious individuals that want to keep their money in an untraceable currency without being subject to market fluctuations, a means to do so.
Haven doesn’t rely on a peg to maintain a relationship with fiat currency and can be traded at any value without affecting those who want to maintain the relationship. It does this via a built in smart contract called offshore storage. Sending Haven to offshore storage (burning) records a reference on the blockchain to the current fiat value which can be restored later back into Haven by minting new coins to the tune of the current fiat value.
The key use cases for offshore contracts are:
Point of sales systems where goods can be bought with Haven and shop keepers can immediately lock the fiat value in to protect from price fluctuations. This has the added benefit of keeping the shopkeepers business and income completely hidden on the blockchain as his wallet address nor amounts are revealed.
Storing large amount of money outside of the traditional banking system. Privacy focused cryptos are perfect for this but without a reliable way to maintain value through fluctuations the process of holding could be costly. Sending Haven offshore quite literally, makes money disappear until you want it back at which point the value remains intact.
In order for cryptocurrencies to be accepted into the mainstream, there must be a way to abstract the exchange risk associated with holding the currency relative to fiat. Once Haven is supported in point of sales systems and this process becomes automated, adoption will increase rapidly.
Offshore Storage contracts will be implemented once the network reaches a mature stage with enough exchange support to allow redundancy and accuracy of prices. The current focus is on growth, stability, privacy and usability for everyday transactions with an easy to use mobile wallet app that anyone can use without prior knowledge of crypto.
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