Review on USD Coin by Dani Khudi

Name: USD Coin
Item: USD Coin
Rating: 4

November 22, 2019

Circle finally launched its stablecoin called USD Coin (USDC) and backed by the US dollar.

More and more major players are looking at the creation of stablecoins based on the US dollar. In July 2018, IBM teamed up with the startup Stronghold to develop a chip of this type on the Stellar blockchain.

Previusly again, the Winklevoss twins launched Gemini Dollar (GUSD), a stablecoin also backed by the US dollar. Now it's Circle turn with USD Coin. Backed up by Goldman Sachs, they has finally launched its stablecoin called USD Coin (USDC) and backed by the US dollar.
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USD Coin is a stablecoin founded by a joint venture between non-other than the one of the most well-known crypto brokers Coinbase. Each coin is supposedly backed by $1 USD and can be redeemed at any time. The stablecoin was created with transparency in mind. 

The new coin USDC is termed as, Power of the dollar at the speed of crypto. Which deliberately can be used by the people as the stable coin with the power of crypto inside.Using crypto with a stable side, which means that the price of the coin will remain constant, that is, equal to 1$.
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