Review on TrueUSD by Anne Schroder

Name: TrueUSD
Item: TrueUSD
Rating: 4

August 28, 2018

TrueUSD is an ERC20 token that uses several escrow accounts in order to…

TrueUSD is an ERC20 token that uses several escrow accounts in order to protect its holders from counterparty risk and misappropriation. It is listed on several cryptocurrency exchanges — Binance, Bittresx, Upbit, HitBTC, Bitso, and Cryptopia to mention a few.
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Pros

The TrustToken Platform enables asset tokenization that is legally enforced, audited, and collateralized. Its key legal instrument is a special type of trust called the “SmartTrust,” which appoints the beneficial ownership and control of assets in the trust to a smart contract on a blockchain.

Cons

Creating a legal bridge between blockchains and assets is difficult because it requires novel legal entities designed around cross-jurisdictional property and tax law. A full solution requires an auditable protocol for smart contracts to interface with the fiduciaries managing these legal entities, as well as a cryptoeconomic system for trustworthy asset management.