Review on USD Coin by francis fernandez

Name: USD Coin
Item: USD Coin
Rating: 5

September 22, 2020

USD Coin: the stability of FIAT money combined with the flexibility of cryptocurrencies!

USD Coin also known by its acronym USDC, is one of the digital currencies called stablecoin because its value is anchored to the US dollar; having a peer-to-peer equivalence; that is, 1 USDC = 1 USD. 
How does this equivalence work in the value of USDC?
Very simple, for each unit of USDC issued there is a unit of USD deposited in a bank account that supports it; which means that they are exchangeable for dollars and your currency is always guaranteed. 
This 1: 1 equivalency is displayed on the Ethereum blockchain as ERC-20 token.The main characteristic of USDC (stability) has made it worthy of inclusion in the most important exchange networks in the world such as Coinbase. 
How do you mine or create USDC? 
The issuance of USDC is carried out under license from the United States Government when there are funds in dollars in reserve bank accounts. This condition represents an advantage and at the same time could put the currency at a disadvantage; since its operation is regulated by an official body, which makes it a centralized currency.
What has no doubt, is that its exchange rate pegged to the US dollar opens the door to a number of available opportunities that were only available to users with dollarized accounts. This currency combines the commerciality and stability of the dollar with the practicality of the digital currency under the same infrastructure. 
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Pros

 It is one of the few currencies on the market with a stable value.
The price of your currency is guaranteed by funds in dollars in a bank account.
USDC's ERC-20 token serves as a payment instrument and commercial loan and financing operations.
The issuance of USDC is carried out under license, by governmental entities of the United States to support its parity with the dollar.

Cons