Stablecoins and Brilliant Future of their Developing Companies
Instability of cryptocurrency prices has caused a new type of cryptocurrency to enter the global market. Stablecoins were able to include cryptocurrencies in a new phase of value-orientation through guaranteeing value stability. By entering stablecoins, many extensive positive expectations can be expected. The investors can soon buy stock and gold in the form of cryptocurrencies; that is, the same as the way they buy Bitcoin. In this case, Counos platform, a Swiss financial complex, is one of the most pioneer financial complexes to supply cryptocurrencies based on official money and precious stone. In addition to Counos, Paxos is a New York company which suggests a cryptocurrency baked by the USD. These stablecoins’ purpose is to offer a digital token which is backed by precious metals and probably will be exchanged in the stock market publicly and officially from 2019. You will read about Counos and Paxos in the following parts.
How Will Be the Activity Counos?
Counos is a Swiss company in the field of stablecoins and cryptocurrencies which was launched in 2018. This online financial platform supports one of the widest collections of global stablecoins. Counos will likely be able to make a revolution in the arena of global financial transfers through offering stablecoins with a fixed dollar value equal to USD, CAD, Euro, Swiss franc and also through offering cryptocurrencies backed by precious metals such as gold and silver. All Counos stablecoins have been developed by Blockchain technology, and the price of all these cryptocurrencies have been fixed and guaranteed by a very smart method.
How Has Been Paxos Activity?
Paxos Company introduced its cryptocurrency about 6 months ago. Ledger or electronic wallet has been considered for doing trades related to this cryptocurrency too. The other mission of this company is to enter any type of asset into Blockchain system. Paxos wants to transfer all commercial trades to Blockchain system and decrease the fees received by the banking and payment system in addition to developing international relationships through doing it. Moreover, considering the capacity of the Blockchain system, there will be the possibility of security persecution and supervision.
What Is Paxos’s Method to Reach the Purpose?
The same amount of gold, dollar and other assets Paxos claims that is in the Blockchain and system of this company should be physically registered in the company balance; that is, if gold tokens are supposedly in the hands of users, the same amount of gold should be at the store actually and physically. The same is true about the stock too. The same amount of stock which is registered in an individual’s account should be registered in his user account in Blockchain.
Paxos needs the government support and confirmation of official authorities to include another investment market in new Blockchain system. Adding trading goods such as gold and other precious metals in the next year will surely be followed by more growth and development. We should wait to see if Paxos activities can attract the government or vice versa; government supports can bloom Paxos working atmosphere and its strategies.
How Will Be the Perspective of the Presence of Objective Goods among Cryptocurrencies?
Using token for precious metals causes trades management to be accomplished in international dimensions much faster and easier. What is necessary for the success of this system is the careful planning and applying comprehensive strategies which can attract different users in various parts of the investment market to work in Blockchain besides making communication. Counos and similar measures by other companies and people have not caught the attention of the US so far; however, there is still a long way, and there is the probability of more attention and welcoming this new form of Blockchain activity through renewed market’s spur of interest to the world of cryptocurrencies. Whatever the destiny of cryptocurrencies, it will not disappear. This new way certainly leads to new routes.