Centralized StableCoin Problem

By Simplify Crypto | Simplify Crypto | 2 Sep 2020


Last month, we saw news related with USDC address black listed by Center and for to much people it was a suprise.

For me this was not a suprise because we are talking about centralized coins so the company can do what they want to address like blacklist him.

Some people was saying that only Center was blackliting address but his is not true because currently there are 40 addresses blacklist with more than 4 Millions of UDT.

We don't know that are the reasons that makes Center or Tether blacklist the addresses. But this is the problem of use centralized crypto that can be blacklist the address and after that moment the address cannot asend the funds to any CEX and every momevement will be tracked by crypto community.

This situation makes very important to have a decentralized satblecoins like DAI where does not exist a centralized company that can blacklist our address and we can always check the stats related the collateral in Dai stats.

REMAIN: A centralized stable coin it is a prommisse that for each coin exiss the same amount in a bank account that we cannot check if it is true or not.

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Simplify Crypto
Simplify Crypto

Trying to help people to understand the crypto world from the basic concepts to the crypto projects purpose. My articles are publish in Publish0x and Hive

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