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Review on TrueUSD by Aiden Burne
TrustToken takes a realistic look at the state of cryptocurrency versus…
TrustToken takes a realistic look at the state of cryptocurrency versus traditional banking, offering institutional investors a pathway to crypto investing without the associated risk. The one sticking point of the project seems to be its incredible similarity to Tether, a project with much the same use case. The developers only address this similarity briefly, touching upon the topic of – not surprisingly – trust. It’s no secret that controversy swirls around Tether, and perhaps TrustToken and its TrueUSD token aim to provide a cleaner alternative.
Pros
- In order to offer its users confidence in the value of the funds, TrueUSD has implemented a system of monthly, transparent audits of the multiple bank accounts used to store TrueUSD funds. These audits allow investors to scrutinize the TrueUSD tokens in the same way they would evaluate any other asset, a level of analysis that users of other Stablecoins are not able to access.
Cons
- As more and more cryptocurrencies enter the market, it will be important to focus on which companies are offering tokens that are both stable and trustworthy. TrustToken, a brand-new startup with engineers from Stanford, Google, and Palantir, has developed the world’s first trustworthy, USD backed Stablecoin that offers immense amounts of support for investors and everyday people alike.
