Hello Steemians,
Allow me to share with you my homework for Week 7 given by @yohan2on.

Trust Token

In the world of cryptocurrencies, there have been numerous attempts to create various forms of fixed price tokens. Tether remains the most widespread project so far, which has kept the price level around $ 1 with slight deviations from the rate.

Trust Token currency called TrueUSD and ticker TUSD uses the same model, but more transparently. The company regularly publishes independent audits. TrueUSD is growing rapidly and has doubled its market cap from $ 40 million to over $ 80 million, becoming one of the top 100 cryptocurrencies.
While the company is still not as popular as Tether, it has successfully raised funding from investors.

One of the latest launch was TrueUSD, a stable USD-backed cryptocurrency. The project offers all token holders full collateral, regular audits, and legal protection to buy back TrueUSD for US dollars.
Early access was opened to institutional investors, hedge funds, traders, and exchanges.
Many hope that TrueUSD will provide a stable trading tool for traders and allow its tokens to be used as a medium of exchange during periods of volatility.

Why TUSD is needed
The volatility of cryptocurrency prices is preventing their widespread adoption. In the economy, most businesses still find it impractical to use digital currencies. Many decentralized applications are difficult to use without a stable medium of exchange.

Tether is currently the largest player. But there are no up-to-date audits to confirm that funds are available for repayment. He was suspected of inflating the bitcoin rate and in the empty issue of unconfirmed tokens. In addition, Tether holders have no legal guarantee that USTD can be redeemed for fiat currency. It turns out that the users of the token are at risk.

Features of TrueUSD

• The offer is built on TrueCoin, a service that issues tokenized currencies and assets. The company partners with registered trust companies and banks to securely hold funds that support TrueUSD tokens. To enhance security, trust companies process all funds directly. The TrueUSD system does not process or has access to the amounts deposited into its account to secure the tokens.

• When you deposit funds and complete the registration process, you become the beneficial owner: account ownership is legally verified, every TrueUSD token you receive is given in return for your $ 1 deposited into your escrow account.

Officials claim the following benefits:

• Legal protection: The escrow account is subject to regular audits and complies with all established rules.
• Ability to redeem a token for USD: Any user with a verified account has the right to redeem TrueUSD for USD.
• Reliable management of funds: the established scheme allows you to directly exchange dollars on the account; the team is not allowed to it. They connect to the network from partners (banks, etc.) to buy or redeem TrueUSD. This reduces the risk of the counterparty.
• Fully Collateralized: Each TrueUSD is always fully collateralized with US dollars held in accounts. Public smart contracts for issuing TrueUSD regulate this.
• Regular audits: The audits are published regularly and are subject to ongoing professional independent audits.

Why use TUSD?

• TrueUSD enables different participants in the crypto market to use the equivalent of the dollar:
• traders and exchanges: traders want a reliable, stable mechanism to save from volatility, and there will be no impact on BTC / ETH due to the outflow/inflow of dollars. TrueUSD is available on multiple exchanges.
• Commercial organization: ordinary people and businesses can take advantage of digital currencies (faster transaction speed, global reach) without volatility. Literally, you can pay a salary, take out a loan, or buy coffee with cryptocurrency.
• Parties to a long-term contract: Stable tokens allow contracts for intellectual property that can be enforced over time, such as prediction markets, salaries, and loans.
• Developing countries: Some emerging markets are increasingly relying on cryptocurrencies for trading.
• Financial institutions: an asset that they trust (dollars), in a legal medium with which they are familiar (escrow accounts, escrow), to transact in cryptocurrency markets.

Thank you.
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