Stablecoin - News, Opinion & Analysis

Stablecoin

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A stablecoin is a digital token that is pegged to a certain value, usually in a 1:1 ratio with a fiat currency like the US dollar. For example, the USD Coin (USDC) launched by Coinbase is backed by US Dollars in a 1:1 ratio. Most stablecoins in reality deviate from the $1 position ever so slightly, 

Most stablecoins are pegged to a fiat currency, with the US Dollar being a popular choice. However, some stablecoin ventures distinguish themselves by backing their stablecoins with other assets. 

An example of this kind of stablecoin is the well known MakerDAO ecosystem, which is a stablecoin ecosystem that consists of two tokens: the stablecoin DAI and the governance/utility token MKR. The stablecoins are backed by Collateralized Debt Positions which demand Ether as collateral. There is a complex mechanism in place to ensure that the token does not deviate from the $1 value.

Stablecoins have been ascending in popularity in discussion in 2019. This is largely because there is some consensus in the idea that stablecoins are effective in combating the volatility of the market. Since the value of these tokens remain stable, investors who use stablecoins do not have to worry as much about bear markets, and can use these tokens to make investments during these bear markets to gain profit.

As most stablecoins are pegged to fiat currency, there has been scrutiny on the finances of stablecoin issuers, who must confirm that they possess the reserves to back the total value of stablecoins. This increased scrutiny has led to calls for more audits and better transparency.


Carbon Money (Stablecoin) Leaves EOS

28 Jan 2020 3 minute read 0 comments zogintl

OVERVIEW Carbon Money has announced that the project is leaving the stablecoin space. The team said that they would instead be pursuing their “better-performing credit/debit card on-ramp.” Some, particularly those from the EOS community, were caught...

Chainlink Partnerships

28 Jan 2020 1 minute read 1 comment TheCryptokeeper

I like my life just the way it is. I don't want a different life.I think when we look back at the climate of our own era,And we'll probably say, "Well, if you're not one of the lucky ones, you'll never be one of the lucky ones."But we've all done tha...

Some Ridiculous Tether Updates: USDT Backed by Reserves of BTC & Launching of Tether Gold

24 Jan 2020 3 minute read 11 comments rhyzom

Tether, everybody's favorite gang of variously assorted scumbags and their networked criminal associations, appears to be marching on in advancing and revolutionizing this space, lol. I won't go again in all the juicy details regarding Tether and the...

Cryptocurrency - Pi

24 Jan 2020 2 minute read 2 comments blogninjachris

Cryptocurrency - Pi There is a new type of crypto coin starting to sprout up, it is called Pi and is available to those who get invited to start earning via mining on their phones. I happened to get lucky browsing around a site (not Publish0x) that I...

Grant Thornton LLP releases Attestation Report USD Circle Stablecoin (December 2019)

23 Jan 2020 1 minute read 0 comments WhiteWalrus

On 22 Jan 2020, Circle released the Dec 2019 report attesting to the US dollar reserves backing USDC by independent accounting firm, Grant Thornton LLP. They are the same accounting firm that is overwatching the Cryptopia.nz exchange hack and the acc...

In the libra association there is practically only Facebook

23 Jan 2020 2 minute read 0 comments Roberto D.

Libra, the stablecoin project strongly desired by Zuckerberg, presented with great pomp not even a year ago with the promise that it would be launched by the first half of 2020, capable of arousing panic in governments around the world and of taking...

Larger market trends shift in favor of cryptocurrencies

14 Jan 2020 1 minute read 0 comments TheCryptokeeper

A shift in market trends appears to indicate this year will see a lot of investments moved into cryptocurrency One of the heads of the IMF, Christine Lagarde, indicated that much greater further interest is being taken by by the banking world in cryp...

WisdomTree Investments, Inc: Developing Multi Asset Backed Stablecoin

13 Jan 2020 1 minute read 0 comments zogintl

Lets get into it good people, this story has huge implications in the future of digital assets.  WisdomTree Investments, Inc. is a New York-based exchange-traded fund and exchange-traded product sponsor and asset manager. WisdomTree launched its fir...

China is ready to launch the new national blockchain network, the infrastructure will be operational from next April

10 Jan 2020 1 minute read 0 comments Roberto D.

Six months after the start of the first tests, China confirms that the new national blockchain network will be fully functional and operational starting next April; the initiative aims to create a state infrastructure that meets the needs of all thos...

The Most Important Events To Watch In 2020!!!

5 Jan 2020 4 minute read 2 comments andreaskanel

  New year - but also a new decade - to see what exciting developments we expect to see in 2020. 2019 was a rich event-year. We have seen the birth of new alliances, new crypto products and a plethora of blockchain protocols that have evolved and exp...