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Review on TrueUSD by Emily Harris
TrueCoin, on the other hand, will adopt a completely different model, allowing…
TrueCoin, on the other hand, will adopt a completely different model, allowing users to view daily and monthly audits from outside professionals. Users – like exchanges – will also be able to exchange their TrueUSD 1:1 by interacting directly with TrueCoin’s affiliated trust companies, which means TrueCoin never actually handles your money during the withdrawal
Pros
- Financial Services: Financial firms can enter crypto markets without getting immediate exposure to BTC or ETH. These companies receive receipts and proof of ownership for their TrueUSD tokens. Exchanges: Exchanges can offer customers a stablecoin they can trust. TrueUSD can be used as an alternative to traditional currency deposit methods. Crypto Traders: Crypto traders can hedge against volatility in the crypto market, moving money into crypto without immediate exposure to ETH or BTC. Commerce Platforms: Online purchases, salaries, escrow, and loans are enabled through price stability, allowing the mainstream adoption of digital currencies.
Cons
- The company will initially only launch the TrueUSD. However, in the future, they plan to launch the TrueMuni, TrueYen, and other currencies. All of these currencies can be listed on exchanges around the world and traded globally. I think this is not good
