What is a Stablecoin and Blockchain?

With over 15 years experience in the Blockchain industry, we are here to solve all your business Blockchain needs.

Blockchain is a cryptographic method whereby  all transactions are clearly and immutably entered into a series of computations which cannot be altered.

Blockchain is often utilized to track product and inventory. For example, Walmart knows every detail about a head of lettuce, from who picked it, until it is sold retail in the store produce section. Such a system can track inventory, shrinkage,  freshness, and it makes recall of a contaminated product simple. Another use we have developed involves parts and maintenance of aircraft. Every single part on an airplane is numbered so as to trace flaws or fatigue. This same concept applies to personnel scheduling.

Explained  by famed economist Dr. Richard Rahn in his groundbreaking book, “The End of Money”,  a public/ private key encryption system evolved in a few short years into what is commonly called “Cryptocurrency” movement of financial transactions.

Most consumers are familiar with the name of the first major usage of this system, called Bitcoin. While still the largest and most well know cryptocurrency, Bitcoin is hampered by the fact , at it’s core, the purchase of a Bitcoin is a totally speculative purchase. It is not backed by fiat national currency, real estate, gold, or any tangible product.  As well, it continually floats in value. Thus Bitcoin is seldom used for serious monetary transmissions, and is more of a speculative, gambling novelty.

Despite the opposition of authoritarian governments, including the United States Treasury and SEC,  the true potential of crypto is centered on “stablecoin” systems. With stablecoin products, the coins are 100% backed by a national currency, such as a Euro. The holder of the coin is guaranteed immediate, 100% conversion of the stable coin back into fiat. This allows a person to buy, hold, save, remit and otherwise use their   “value”. This P to P (Person to Person, or business) movement allows the instantaneous settlement of payment, whether to your relative in overseas, your sister for her birthday, or buying heavy machinery from Japan.  It is truly instantaneous (electronic) cash.

We have helped one client develop a stablecoin which replaces, or overlays is perhaps the better word, 33 traditional banking, cash,  and monetary services, from cashiers checks, money orders, to simple bill paying, all in the privacy and security of your own home. Your transactions are anonymous and private, as was intended by the fourth amendment to the United States Constitution; and safe, as no longer does a small business or individual have to fear robbery.

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