This has helped stabilize the prices of digital assets. Stablecoin refers to a cryptocurrency asset whose current value is secured by one of the traditional and liquid asset types - currency, commodities, metals - that is, assets that are accepted in global financial practice as a reliable and legitimate means of settlement. There is an analogy here to the events before , when the US dollar was completely backed by gold, the so-called "gold standard".
The advantages of such practices are as follows: predictable cryptocurrency prices, which make it possible to process long-term contracts between counterparties; insurance against the strong devaluation of cryptocurrencies, especially if information manipulation technologies are used by insiders; and the ability to use asset-backed cryptocurrencies as a means of accumulation and reservation.
The advantages of metal-backed stablecoins enable transactions in which participants can sell excess quantities of a particular metal to third parties on more favorable terms than with conventional contracts. Stablecoin also significantly lowers transaction costs and enables customers to trade faster. In this case, our institute offers its services for the audit and verification: confirmation of the quantity and quality of the goods as well as their evaluation.
It is important to take into account the international standards that state that an audit should be carried out every quarter to ensure transparency and credibility of the company. It is important to recognize that overall liquidity is affected by changes in metal prices and increases or decreases in sales. All of these measures should be strictly regulated. A stable coin is a regulated financial instrument, so a stable coin always has a sales prospectus, similar to stocks or funds.
We have observed that there are currently many utility coins that present themselves to the outside world as securitization of values. As a rule, an attempt at fraud can always be assumed here, since this is definitely a financial instrument that is subject to regulation. We have also found that there are coins or tokens that have been rated for 5 years or even older.
If a price was determined for a commodity five years ago, it usually has nothing in common with the current price today. There are metal products that have a very high price in their valuation for their smallest unit 1 gram, 1 meter, etc. All metal products are synthetically produced goods which, like all synthetic goods, decrease in price as the quantity increases. This is a milkmaid bill and in no way corresponds to the reality.
The price per unit of all manufactured goods decreases as the quantity increases. The narrower a market, the more drastic the discount. In addition to some stable coin projects, the ISE also supports its own project in the field of smart contracts. A smart contract based on a self-written blockchain is currently being tested to facilitate the purchase and sale of metals from May We will report more on this topic shortly.
Please send press inquiries to [email protected]. The scenarios for the possible use of the blockchain are very diverse. Companies see potential uses for distributed registers in the areas of land registry, voting, product distribution, energy, crowdfunding, auditing and notary services.
A global open source community, Hyperledger, is currently working on cross-industry blockchain scenarios. SAP Ariba works with the global Everledger network to track the production and delivery of goods - from raw materials to sales. One can have different views on cryptocurrencies, and it doesn't matter whether blockchain is revolutionary or not, as there is no doubt that it will have a significant impact on a number of traditional industries as technology drives the creation of new businesses, products , Services and applications.
What's more, all of this is already happening. And this step towards the "mass" use of the blockchain marks the end of the first phase of the development of this technology. There is currently no legal regulation of cryptocurrencies, but as soon as there is an effective regulatory system which regulators around the world are actively striving for , there will only be "reputable" cryptocurrencies that really have value and for which there are long-term prospects and will give new development opportunities.
There will be a predictable version of the crypto market where cryptocurrencies will become a trustworthy asset class. Blockchain technology - the future is already today In the past five years, the blockchain has become as popular as the internet. Smart contracts - who needs it?
Cryptocurrencies have developed into a new asset class! Advantages of stablecoins The advantages of metal-backed stablecoins enable transactions in which participants can sell excess quantities of a particular metal to third parties on more favorable terms than with conventional contracts. The ability to invest in metals without the hassle of transporting and storing them By purchasing stablecoin, the user can either resell it and exchange it for physical metal.
Accessibility not only for institutional investors but also for private investors Disadvantages of stablecoins There is one major disadvantage with all metal-backed stablecoins. The percentage of their security and liquidity depends on who issued them. That is why strict controls are important here.
Otherwise, it will be impossible to ensure the security and connectivity between the metals and the stablecoins. Metaverse expert and author Matthew Ball returns to kick off Season 2 of the podcast with a discussion about the state of the metaverse. Apple Podcasts Preview.
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