Review on TrueUSD by Othere Obtentus
Stable coin
Like Tether, TrueUSD is a completely USD-collateralized digital currency. TrueUSD has "absolute" legal rights, and the third-party attestations are inspected in a transparent manner. They often hire several escrow channels to decrease market risk, but also to provide token holders with legitimate protection against misallocation. In addition, they have developed their asset token on the TrustToken website, which enables asset-backed token holders to exchange freely around the world. TrueUSD is coming as an ERC20-token on the Ethereum blockchain. They also run smart contracts to verify transfers between banking institutions, consumers, and organizations. Practically anybody can exchange or exchange TrueUSD to USD or vice versa, provided that they have undergone the KYC assessments that the organization engages.
Pros
- Backed up by US Dollars
- Legal provisions
- Transparent
- Easy liquidity
- Payment method
Cons
- Not the best stable currency
