Stablecoins are a special type of digital asset that represent the value of another currency or asset found outside of this asset’s blockchain. Investors may think of it almost as a derivative product, in that there is an underlying asset involved. “Stable” references that the outside asset is more constant relative to the value held on this asset’s current blockchain. Major cryptocurrencies, Bitcoin and Ether, are renowned for their volatility — which have been the boon and bane of many investors. The most popular currency that stablecoins represent is the US Dollar, thereby allowing for stable on-and-off ramps for investors, a process that previously involved multiple costly transfers between fiat and cryptocurrencies.
Cryptocurrencies have several potential advantages over using regular fiat. Fiat requires trust in the central issuing government body. Since all major currencies have decoupled from the gold standard in the latter half of the last century, fiat is no longer backed by a hard asset, meaning that value in a fiat currency is tied to trust in the issuing body. The US Dollar and Euro have a high amount of trust and support, but that’s not the case with other currencies. Zimbabwe’s dollar was effectively abandoned as a national currency in 2009 due to hyperinflation. Cryptocurrencies offer a higher level of transparency since all transactions are stored on an immutable ledger. This detailed record-keeping reduces the need for paid intermediaries to verify if and when transactions occurred. Also, consumers benefit from lower transaction fees with remittances. Cross border transactions no longer have to do multiple hops between intermediary currencies based on what individual banks support. Value can be moved in a single step from one user to another. Certain cryptocurrencies allow for programmable logic to be built into blockchains as well.
Investors have entered the digital asset ecosystem for a number of reasons. Ethereum¹, with the use of smart contracts², offers a multifunctional protocol that has seen significant application development and financial proofs of concept. Ethereum provides a decentralized network for running resilient, secure, and borderless applications. While Ethereum enables the world computer, the majority of transactions are still tied to the real financial world. Bills, insurance, and everyday expenses are still primarily paid in fiat. Complex financial products and commodities, as well as all domestic transactions, are still denominated in US Dollars. With cryptocurrency volatility persisting, having a solution where one gets fiat price stability and blockchain technology is an essential component in the development of the global digital financial ecosystem.
Example: TUSD, GUSD, USDC, PAX, USDT
The next generation of currency, payment, and settlement will undoubtedly occur in digital form. The composition of the initial attempts gives us an idea of where this technology can go. Fiat-backed currencies offer familiarity and ideological comfort of 1:1 backing of the underlying pegged currency. Although introducing centralized risk, they serve an important function to familiarize and build trust with newcomers to the digital ecosystem.
The next generation of currency should allow alternative pegging so that they can be shielded from extraordinary events. Ideally, it should be backed by a diversified uncorrelated basket of assets to avoid effects of such events. Additionally, an ideal stablecoin would execute smart contract logic on-chain and be backed by decentralized assets. Each of the first attempts highlighted above successfully accomplish essential tasks in this development. With certainty, the next evolution in stablecoins is coming.
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Technology has come a long way over the years, and since the establishment of cloud solutions, data storage and management has never been easier. Small and large businesses now rely on cloud services to store their information, but with that said, here are a few things you must know before you move to the cloud.
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Are you new to coding? Here are some tips and tricks for beginner programmers. Learn the importance of a strong computer science foundation for a software developer with this tutorial. Happy coding!
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In this video, I’m going over 7 things you NEED to know before buying your first rental or investment property in 2021. Watch this video in full to have less stress, make more money, and know how to leverage real estate to your advantage.
I own a real estate brokerage in California and have been in the industry for close to 4 years now. These are my insights on real estate investing.
From investing in multiunits in the right locations, to understanding the tax benefits, to running the numbers to make sure an investment makes sense, there are so many things any new real estate investor should know. If you want to start real estate investing and get your first rental property in 2021, this is the video for you.
There is a lot of opportunity in real estate, and as a real estate investor you need to know what the benefits are (to save on taxes) and how you can maximize the profit of your rental. These are the things I wish I knew before buying my first rental at the age of 25 - it would have saved me a lot of time and money.
I’m super excited for you! There are deals everywhere and as long as you know how to identify these deals, allocate resources correctly, and find the right tenants, you will do well. This is a long term way to build cash flow and generational wealth, for those who do it correctly.
Happy real estate investing! I’m rooting for all of you. Let’s buy some units in 2021! If you’re a hustler, make sure to hit that like button and subscribe for more content like this - I make a ton of content about personal finance, investing, and entrepreneurship.
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SAFEMOON UPDATE - ALL YOU NEED TO KNOW ABOUT SAFEMOON AND SAFEMOON PREDICTION
This is all you need to know about safemoon and I provide my safemoon prediction. This is a huge safemoon update so make sure to watch this video until the end.
📺 The video in this post was made by Josh’s Finance
The origin of the article: https://www.youtube.com/watch?v=ZtX7ZIVcXH4
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
Cryptocurrency trading is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money
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The Internet of Things (IoT) represents the network of physical objects installed with sensors, software, and other technologies to connect and exchange data with other systems and devices over the network.
IoT has changed the way computers think; it has made computers understand in an innovative and better way. As a result, many business owners are developing IoT-based apps for their businesses to grow and expand.
Do you also want to develop an IoT app for the business? You can hire an IoT developer from Nevina Infotech to develop your app. We are the leading app development company with a team of dedicated developers on whom you can rely.
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