We notice you’re visiting us from a region where we have a local version of Inc.com. For years, blockchain traders and exchanges have invested significant time and resources in an attempt to solve Bitcoin’s biggest shortcoming, volatility.
While there is potential for this technology to disrupt just about every industry imaginable, the unpredictable nature of the currency is a fundamental roadblock that could delay progress for years. To gain widespread adoption among consumers, enterprises and investors, cryptocurrencies must offer reliability and predictability that people can trust.
Furthermore, they must do this without compromising blockchain’s core tenets of decentralization and security. The future of digital assets largely depends on the success of this development.
The concept of building a “stablecoin” is not particularly new. However, there are numerous technical and operational challenges to scaling a stable cryptocurrency, and teams have tried and failed to develop a comprehensive solution.
Tether, perhaps the best known startup in this sector, holds their fiat currency backing in an unaudited bank account in Taiwan, and recently prevented customers from signing up to redeem their Tether tokens. There is no auditing or legal protection offered to their token holders. Read more from inc.com…
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