1 Level
5 Review
1 Karma
Review on TrueUSD by Ryan Langler
USD is already the industry standard and used as the fiat currency base…
USD is already the industry standard and used as the fiat currency base trading pair. We’re starting with US Dollars - TrueEuro, TrueYen, and stable baskets of tokenized goods (including precious metals and real estate) may be future projects. People will be able to create their own baskets, and markets can decide which baskets are the best stable currencies.
Pros
- TrueUSD (TUSD) is very stable and has a fixed price. Most of these coins are tied to the price of an electronic currency in a particular fiat currency. The nice thing about coin is its stability. Compared to other currencies such as Basecoin and MakerDAO, which operates on a proprietary basis, TrueUSD is supported by assets. It offers some benefits over other stablecoin including acquisition to anyone who has passed their KYC and Anti-Money Laundering checks.
Cons
- Every TrueUSD is always fully collateralized by USD, held in a professional trust company’s escrow account. Our publicly audited smart contracts mint TrueUSD when USD clears the escrow accounts and burns TrueUSD when USD is redeemed to ensure a 1:1 parity between the TrueUSD in circulation and USD in the escrow accounts.
