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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/.
via NewsBTC