Which USD-backed stable coin is the most reliable and why?

10 000 question challengeCategory: Profits (trading, ICO, mining)Which USD-backed stable coin is the most reliable and why?
HowToToken Team Staff asked 7 months ago
1 Answers
HowToToken Team Staff answered 7 months ago

Jonathan Ponciano, an author of Forbes, suggests considering trueUSD if you need a replicative asset for dollars in the world of crypto.

The main reason for it is a legal framework developed by issuer to protect token holders by creating a strong link between tokens and underlying dollars. The product is being developed in partnership with banks and two Washington D.C. law firms, a crypto hedge fund and a New York investment firm. The core of the idea is a platform called TrustToken where all operations with this token are stored.

“The firm will use smart contracts to keep track of TrueUSD balances and ensure only holders who’ve gone through the KYC process can make deposits or withdrawals.”

https://www.forbes.com/sites/jonathanponciano/2018/01/24/another-stablecoin-debuts-can-asset-backed-cryptocurrencies-ward-off-crypto-volatility/#2dcd5df472d5