The  USA and generally the World's Problem is well stated here

The BIGFIX ?

Creating A Real World Asset, Full Reserve Backed Digital Money System for the People?

The cryptosphere powered solution imo is 'tweaking' the software logic of ERC-721 or similar in other projects to become Full Reserve Fungible "FRF" Tokens backed by "Real World Assets "RWA"s with JIT "Just in Time" Liquidity added to make existing Smart Contract "SC" DEFI loans be also fully backed.

Best part? FRF 'stops Fiat powered inflation' and protects your buying power.

Heck yeah, it's just software.

Adding FRF to ERC-721 requires No massive re-write to  transform any #SC issuing Loans in the world of #DEFI to become Full Reserve backed loans to be selectively issued by the People for the People  asking for such loans.

Say what?

DEFI developers can if they wish, with minimal effort, move their Loan model to be backed by Full Reserve Real World Assets, again if they so chose.

The big DEFI developer 'mental' hurdles are two fold:  

1. We are all hooked on Fiat, being duped by a centrally controlled Magic Currency Creation Machine, designed to benefit the few that control issuing of that currency to the few that re-issue that  #Fiat as debt to all of us 7% collateralized or backed by real world assets namely, buildings, cars and equipment.  All of that fiat issued is based on a Promise by the Government to replace that IOU, with a fresh IOU.

Wacked don't you think, Given this fractionalized Reserve model is deliberately designed to create currency for issue as debt which eats your buying power through inflated prices of goods and services

2. We can't see the solution to "1." is right in front of us, and has been since the creation of the ERC-721  NFT "Non Fungible Token  Ethereum Request for Comment 'ERC'. by these folks (TY Brave AI Assisted Search)

"ERC-721 was created in January 2018 by William Entriken, Dieter Shirley, Jacob Evans, and Nastassia Sachs as a standard for creating non-fungible tokens on the Ethereum blockchain. It was initially proposed as an Ethereum Improvement Proposal (EIP) by Dieter Shirley in late 2017, with the formal specification published in January 2018. The standard was finalized and accepted in June 2018."

Here is the formal link ..  https://erc721.org/ 

Consider this goal, which is I think what 'well-intended' cryptosphere project developers really seek to enable (if not openly the thought is lurking deep in their hearts to do the right thing):

B   - BIS 

I - is 

G - Grounded

F - FiaT

I  - is 

X - eXterminated

The "BIGFIX" Caveat

ERC-721 needs two simple enhancements added :

• A. - JIT  "Just in Time" Liquidity
• B. - "A" latched via issue/burn/re-constitute methods allowing the Value of RWA "Real World Assets" to be attached to ERC-721.

ERC-721 and RWAs

These two relative 'simple to create in software' enhancements puts the control of collateral backing DEFI loans in the hand's of everyone (We the People) who owns any of:

• computer hardware: of any type (with a unique, not easy to change identifier)
• Physical Assets : Home, condo, Car, et al (with a unique, not easy to change Identifier) 

Where each can be owned partly or entirely by the individual.

In what I have been calling the #DLO  "Dynamic Liquidity Ocean"

All of the above #RWA types can be uniquely digitally issued as collateral to back up DEFI loans issued by Smart Contracts as "Layer 3" currency.

This means the DEFI smart contract developer is altering their #Solidity SC code to add in a "JIT Liquidity Requestor"  piece of code which multi-cast asks (publishes) to those 'whitelist" issuers of such JIT Liquidity to have their existing Layer Three(3) cryptocurrency be backed by collective set of  RWAs,  to be fully reserve backed or collateralized "dynamically' for a period of time, "a term" that the 'collective' owners  'whitelist' providing these real world assets as collateral (no longer using Fiat like US Stablecoins or possibly CBDCs in some countries to back their loan issue) to back the SC DEFI developer created Financial Service of loan issue. 

In effect the DEFI SC developer has decided, when making this switch from Fiat 'backed by govt promises',  to back their 'cryptographic-ally protected currency' with the same collateral used by Fiat fractional reserve systems, this time digitally represented in JIT liquid, FULL RESERVE form (Elastic Liquid Certificates). These "ELCs" are issued by The People running the Orchestrator Code backed by their own set of physical real world assets, each Orchestrator instance of which (hosted on a laptop, or desktop computer, or computer in a data center), is effectively a Node Operator controlled 'MicroBank' making up a much larger  'Mesh' or Ocean of what are Microbank Orchestrator instances working together to individually bid/respond and win/provide (picked by the SC logic) collective full reserve collateral dynamically(conveniently), backed by their individual 'published' whitelisted RWAs,  when responding selectively(via whitelists) to the DEFI Smart Contract asks/requests published they wish to support.

These two features are what turns any individual effectively into their own MicroBank, issuing that RWA value as collateral to DEFI Financial Services as they see fit (using white lists to make it automatic).

Rise of the MicroBank Collective: By the People for the People?

There is no question we have in the cryptosphere, the collective brain power to do the above,

In creating the #BIGFIX, any SC DEFI developer is really quietly transforming their DEFI Financial Service Offer, driven by by their Solidity Smart Contract software logic to become a superior, full-reserve backed/secured loan replacement of Fiat, which will stop the public uptake of an issue of #CBDCs and, also stunt the public's use of government backed or issued  Stablecoins very quickly,

only IF, these cryptosphere DEFI SC developers as a whole, get off their collective arse to work to enhance the ERC-721 spec or their cryptocurrency project's equivalent spec to be

Full Reserve Fungible "FRF".

Hurry Up and Wait for Ethereum?

Does that mean we wait for the Ethereum Community to get their act together and add in the #FRF capabilities ?

Nope.

Any of the projects out there, either 'coat tailing' #Ethereum (#SOL, #DOT)  or the direct competitors of Ethereum (#ADA et al)  can implement changes to their existing #NFT  "Non-Fungible" technology can 

go here

To learn more and create their own version of DLO.

No need to wait for spring, just start your own version of the #BIGFIX now, in your own DEFI SC software code logic.

It's software after all,  so no excuses. Get going.

Dream BIGFIX and act boldly to once and for all have most all of the world 

Live long and Prosper

In a Full Reserve Fungible world of RWA backed digital convenience

which does not promote inflation and does not steal your buying power.

Happy Holidays everyone!   See you all in the New Year!

TK over and out.