We all have long been familiar with the idea of Stablecoin. We create a crypto coin or a based on a crypto coin to which we later assign a stable value, independent of market shocks. For example, we equate a to a dollar, but we can also equate our to any fiat money. The cost of our will depend solely on our integrity. For example, if we provide each Stablecoin with a corresponding fiat currency unit, then Stablecoin users will believe us and on the stock exchanges, our coin will be the basis for evaluating other and a harbour for escape at the time of falling prices of crypto currencies on the market. The word ‘integrity’ means the release of exactly as many Stablecoins as received dollars into your bank account from a customer who bought your , this means no “empty ”, that is, for which you do not have coverage in dollars in the bank. This simple idea turns a fiat dollar into electronic money; the only difference is based on what it was made of. For example, USDT is a -based platform, but there is also its brother- based on — also called USDT and it is a product of the same company, but created for the . If we wanted to have Stablecoin, for example, in the NEO coin network, we would have to create a with the same name, but based on the NEO . In fact, we would like to have only one Stablecoin and work only on one .
Therefore, Stablecoin is a crypto corresponding to fiat money in a particular . For example, in the . However, you can create an based , which will be tied one to one not only to the dollar, but also to any other currency, for example, to . This will be Stablecoin, or rather, Tethercoin directly tied to . In this case, everything will depend on our integrity. If we always guarantee the exchange of the to , the price of the will always be equal to the . In the same way, you can create Tethercoins for any other . What will it give us? What profit will our make from this? The answer is obvious. All Tethercoins will have compatible wallets. It will be possible to exchange Tethercoins on any decentralized exchange, it will not be necessary to give your savings to a centralized exchange. When exchanging , the client will lose only on GAS payments. All transactions will take place exclusively in the network. This will decisively simplify the use of and increase convenience. This is exactly the idea behind the Custom Coin crypto bank.
Stablecoin Invasion
Considering as an analogue of traditional currency calculations, most critics undermine the question of the stability of thereby refuting their future popularity. Fans of digital money do not stop there and in return offer to use stablecoins.
Stablecoin has a fixed rate and it is tied at a ratio of one to one to the currency. The most important advantage of this digital currency is that it remains unchanged all the time (fluctuations within 1% are possible).
CustomCoin plans to issue stablecoins which will be tied to the Swiss franc. The best currency is the currency of a strong state with a developed economy, which undoubtedly maintains the rate at the same level. Few investors will doubt in the Swiss franc, the leader of the exchange market. Binding stablecoins to a reliable currency will solve all the problems associated with “empty coins” in the world of .
Creating a crypto bank CustomCoin will revolutionize the world of digital money. The list with Tether, Digix and El Petro will get wider soon. Obtaining the characteristics of a conventional payment system, digital technologies are aimed at improving the work in the field of finance and the stability of the income of their investors.
The article is prepared by Inna Kalinska,
Alience Manager of CustomCoin Platform
Published at Sat, 16 Feb 2019 15:15:24 +0000
