USDQ STABLECOIN - A Digital Asset Pegged to the Price of the US dollar

There are many stablecoin that in the market, many of them are fiat-collateralized stablecoins. However, the fiat-collateralized stablecoins are gradually losing their popularity simply because of the centralization issues and some controversies surrounding the fiat-collateralized stablecoins. What is the way forward? The crypto-collateralized stablecoin have the solutions, and it seems to be a way forward.

For a long time now, people are interested in blockchain technology and the numbers keep increasing everyday. Blockchain has many use cases but Bitcoin is the original application for blockchain technology for a peer to peer digital cash system. Meanwhile Bitcoin is a highly volatile asset. There is no system that can keep the value of Bitcoin stable, the volatility nature of Bitcoin is immeasurable, no wonder the price Bitcoin went $4 in 2012 and move to $1,000 at Q1 of 2017 to almost $20,000; and as of today, Bitcoin has dropped back to $7,500.

EFFECTS OF VOLATILE CRYPTOCURRENCY

Traders, investors, consumers, businessmen and women are fully at alert not to get exposed to unnecessary currency risk when transacting in cryptocurrencies. We all heard that cryptocurrency has come to disrupt the world currencies, but it is very funny that we can’t pay your employee a salary in Bitcoin simply because its purchasing power are regularly fluctuating. The volatility of cryptocurrency is a barrier to price predict the crypto market, it is a barrier to engage in an investment that require long-term stability, it is also a barrier to blockchain-based loans and other derivatives.

Individuals and organizations are willing to adopt using cryptocurrency as a payment mechanism, but the volatility nature of Bitcoin and other cryptocurrencies has made things difficult for people to take that decision. To deal with facts, it is not viable to use a volatile asset to pay your employee salaries, or to use it to buy goods and services.

SHOULD WE CONTINUE WITH OUR OLD TRADITIONAL SYSTEM?

The answer to this question is 'NO'.
The traditional system has not been managing our financial system fairly. This is why we are all demanding new forms of payment system that will make us to transact with each other swiftly with a stable digital assets without the involvement of third party or intermediaries. The traditional payments system usually inherit some cost and wasted much of our time to make a transaction. For a valuable exchange, the traditional system is unworkable. However, the USDQ stablecoin, a digital asset pegged to the price of the US dollar, can enable these transactions. The USDQ will offers many advantages of cryptocurrency which supersede the volatile cryptocurrency like Bitcoin, Ethereum and many others.

Q DAO AND USDQ UNIONISM

The Q DAO ecosystem make it possible for users to collateralize their Bitcoin to receive USDQ which provides stability. Q DAO opens way to enjoy a decentralized governance and also open a way to profits. The USDQ will offer more collateral opportunities and will increase versatile use case across the crypto community and the entire nature.
The USDQ can be gotten by collateralizing your Bitcoin on Q DAO platform. Though the platform is working to work with other cryptocurrency which you can used for collateralization; but only Bitcoin is used for now. USDQ is a decentralized stablecoin using smart contracts algorithms to offer higher stability and reliability.

Through a collateralized debt contracts (CDC) technology, you can generate USDQ by collateralizing around in Bitcoin. Your Bitcoin is locked on the system while USDQ is released to you. You can as well exchange USDQ back into Bitcoins with the help of smart contracts on Q DAO ecosystem which are done automatically

CONCLUSION

USDQ is a decentralized and stablecoin which will provide a useful currency which will be used as a medium of exchange. The USDQ can be used as a store of value. It is visible that we can't use cryptocurrencies as a store of value because of the fluctuation of its value, but USDQ can be used to effective store of value.

For further information about the project, kindly go through the links below;

Website ⇒ https://usdq.platinum.fund

Medium ⇒ https://medium.com/platinum-fund

GitHub ⇒ https://github.com/Platinumengineering/USDQ

Twitter: https://twitter.com/platinumqdao

Facebook ⇒ https://www.facebook.com/FundPlatinum

LinkedIn ⇒ https://www.linkedin.com/company/platinum-co

Telegram ⇒ https://t.me/Platinumq

Reddit ⇒ https://www.reddit.com/user/Platinum_QDAO

Kakao ⇒ https://open.kakao.com/o/gfFhY2mb

You can buy, sell and trade USDQ stablecoin from BTCNEXT Exchange here ⇒ https://my.btcnext.io/advanced

Author: Major General