Introduction
Bitcoin, the trending word today, has created a sonic boom around the world. Blockchain, the force of nature behind Bitcoin has disrupted the technological field. It's immutible, incorruptible and unhackable nature makes it more superior than any other existing technology. It is also known as Distributed ledger technology and is the revolutionary technology in the history of mankind. Blockchain makes every industry or businesses more advanced and superior, that's why many institutions began exploring the implementation of blockchain into their core applications.
Cryptocurrencies, backed by blockchain are known as the future of financial transactions. Cryptos provides faster, reliable, secure and low cost transactions. It's volatile nature attracts more investors and traders. Cryptos and blockchain are the future, that's why many people around the world want to own these piece of technology.
But everything is not so sweet as it seems. No doubt the volatility nature of crypto attracts more traders and investors around the world. But this hinders the adoption of cryptocurrencies in the daily life payment activities. And this nature of crypto makes it not suitable to store value, pay for products and services and not able to offer financial credit loans.
Rise of USDQ
But technology doesn't stand still, it is continuously evolving and bringing new changes in every field. Thanks to Stablecoin s, which are promised to provide the benefits of cryptocurrencies without the drawbacks of volatility nature of crypto. Thus, they help to bridge the gap between crypto and Fiat currency.
Today there are many stablecoins are providing services to crypto users like Tether, TrueUSD, USDC and USDPAXO. Trust is the core element behind the successfully utilization of stablecoins. The assets backing these stablecoins need to do their job well, for the effective performance in the regulatory audits. Tether is the most widely used stablecoin presently in the market, but the recent controversies of Tether has created a panic situation among the crypto enthusiasts and given a warning to rethink about the backing and transparent operations of Tether. The Tether stablecoins which are available in the market are not 100% backed with real USD with 1:1 ratio and this non transparency is hindering the utilization and adoption of crypto in every other sector.
But now thanks to a team of professionals who have identified these problems and committed to overcome the problems by creating a perfect and transparent stablecoin called USDQ. USDQ is a perfect decentralized stablecoin , which offers complete stability and reliability through algorithmic operations. It is worth to note that the USDQ is šÆ% backed by USD and Bitcoin. The team has stated that it will be soon backed with JPYQ, SGDQ, CNYQ, RUBQ KRWQ and HKDQ under the Q DAO governance. The USDQ is fully transparent in its entire operations, it is completely backed by USD and Bitcoin and it can be transparently seen on Ethereum blockchain network. It uses the benefits of self executing smart contacts to automate every business operations. This brings highest level of trust in the operation and issuance of USDQ coins.
Q DAO is a governance token which aims to democratize the every operation carried out in the issuance, utilization and in the further development of USDQ. Any new developmental decision will be taken through voting by the holders. It is worth paying attention that the Collateralized Debt Contract (CDC) will be used to issue any new USDQ coins by transferring the Bitcoin's to the smart contract. The contact will automatically issues the USDQ coins which is backed with Bitcoin and the entire transaction fee will be charged through DAO tokens. If at any time the user wants his Bitcoin back, then he need to transfer the amount of USDQ and the smart contract will automatically destroys the USDQ and transfers the Bitcoin back to the users account.
PLATINUM BLOCKCHAIN ENGINEERING, is committed to bring transparency and reliability in the usage of USDQ in every possible areas. Thus, stable crypto coin USDQ will be used as a primary mode of payment in every daily life activities. It opens new possibilities in the existing financial transactions.
The possible key advantages of USDQ are outlined below:
ā¢ USDQ is completely backed with USD 1:1 ratio and Bitcoin as of now and in future it will be backed with other country currencies;
ā¢ USDQ is completely transparent in its coin issuance, reserve backing and it's utilization in the crypto market;
ā¢ To tackle the market volatility it uses two main tokens such as USDQ and Q DAO;
ā¢ Q DAO token holders can make their valuable contribution in the coins development through voting mechanism;
ā¢ The CDC mechanism helps to eliminate any possibilities of creating fake USDQ coins;
ā¢ The blockchain scanner and smart contract feature helps to track all the data, transaction details with time specifics and amount;
Roadmap
Conclusion
The stablecoin like USDQ are much needed in the present Crypto market today. USDQ will play an important role in the growth, development and adoption of crypto into every sphere of our society. The full transparency and reliability of USDQ brings more trust in this stablecoin. The CDC mechanism helps to ensure the authenticity of circulating USDQ coins in the market. Thus, USDQ will soon be going to replace the existing stablecoins with it's competitive advantages.
Learn more about USDQ:
Website: https://usdq.platinum.fund
Read Whitepaper: https://usdq.platinum.fund/whitepaper
ANN thread: https://bitcointalk.org/index.php?topic=5139238.0
Telegram: https://t.me/Platinumq
Facebook: https://www.facebook.com/FundPlatinum
Twitter: https://twitter.com/platinumqdao
Medium: https://medium.com/platinum-fund
Kakaotalk: https://open.kakao.com/o/gfFhY2mb
LinkedIn: https://www.linkedin.com/company/platinumqdao/
Reddit: https://www.reddit.com/user/Platinum_QDAO
Steemit: https://steemit.com/@qdaoplatinum
YouTube: https://www.youtube.com/channel/UCeT4b3_cdVHfSuV_5o7Qw7g
GitHub: https://github.com/platinum-engineering?tab=repositories
About Author:
Bitcointalk username: Abhijeetcg
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1676105;sa=summary
ETH address: 0x96e95a1F40cf5a50178053740ADE18046815362d
