USDR Payment Token Supported by Gold Reserve
September 14 2021 - 3:57AM
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The consequences of inefficient payment methods are felt throughout
global GDP, with the most significant impact on daily consumers.
Not only do these insecure monetary systems destroy purchasing
power because of inflation, but it also limits the capacity of
traders to trade within the world due to cross-border transaction
inefficiencies. The internet has brought the world closer together
and facilitated cross-border payments. However, the existing
methods are still costly, slow, and rigged to benefit the
intermediaries. These problems can only be solved using a payment
method that offers fast and cheap transactions with exceptional
security. Cryptocurrencies and digital payment networks have the
following capabilities, as shown by USDReserve. USDReserve is an
international payment token designed to offer the best financial
technology of the traditional financial world with the added
benefits of blockchain technology. However, the volatility of the
cryptocurrency ecosystem scares new users off easily. Luckily USDR
has developed a solution to that problem as well by using 10 tons
of Gold Reserve acquired by Brothers International GMBH to support
the payment token. How does USDR Payment Token is supported by Gold
Reserve? Developed on Ethereum and Binance Smart Chain, USDR
possesses cross-chain compatibility to offer an even flexible use.
To bypass the crypto volatility, USDR uses Gold Reserve to support
the token. Every token issued has a minimum of $1 physical gold
supporting it. So, a total of 10 tons of gold supports 100m USDR
tokens. The support by Gold Reserve is not static as it can be
adjusted dynamically according to the price changes to ensure the
price of $USDR remains stable. In case the market price of gold
falls, USDR can burn the token supply to keep USDR token price
supported by $1 physical gold or add more gold reserves. Similarly,
if the cost of gold increases, USDR can issue more tokens to keep
the USDR token supported by $1 of gold. USDR payment token is
designed for every individual, including traders, exchanges, wallet
operators, payment processors, merchants, financial service
providers, etc. It is the first-ever payment token to be compliant
with Swiss laws and stored in cold storage to ensure legal as well
as digital protection. The USDR ecosystem is powered by two
products: USDR Supply Tracker and Decentralized Wallet. USDR Supply
Tracker ensures that the token supply is expanded only when
processing mined gold so that the gold reserves continuously
support the new tokens. The Decentralized Wallet is a browser
extension that helps users to store ether and tokens in dApps.
Users can buy, store, send and swap tokens securely using the
browser extension, protected by a key vault and secure login. To
learn more about USDR, visit https://usdreserve.org/.
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