BUSD, a new stablecoin redefining the future of Blockchain payment
The BeTreasury team is proud to announce the launch of our stablecoin — BUSD. BUSD is the answer to two big problems that exist in the cryptocurrency industry.
The first problem BUSD solves is price volatility. Bitcoin and most other cryptocurrencies experience fierce fluctuations in price, which makes them unfit for everyday purchases or as a store of value. For example, at the start of 2018, 1 BTC was valued at $19,000, whereas it is now worth around $6450 (as of October 17th). This means that the price fell 66% from its peak, severely discounting the purchasing power of Bitcoin and wiping out any value that was stored. Fluctuations this large are not suitable for transactions in day-to-day life.
This problem is big enough that mass adoption could be stifled for years to come, so many companies have developed their own solution to this problem: stablecoins. Stablecoins are a cryptocurrency that have a price stabilization mechanism, normally a peg to another asset or complex supply-and-demand algorithms that keep the value of the currency from fluctuating.
While many solutions have been put on the market, many of them suffer from issues such as lack of transparency, lack of liquidity, regulatory uncertainty, etc. We have developed BUSD from the ground-up to be completely legal, transparent and liquid. BUSD is a stablecoin that is backed by real USD assets at a 1:1 ratio, 1 BUSD = 1 USD. These USD assets are kept in capital reserve to guarantee a 100% reserve ratio. We accept supervision and audits from financial regulatory bodies, and accredited third-party accounting and law firms. This sets a high standard of trust and guarantees that BUSD is safe and transparent. Additionally, BUSD can be converted to or from USD at any time. As soon as BUSD is issued, it can be used instantly for payment, remittance, wiring, etc.
The second problem BUSD solves is payment. Until now, the vast majority of cryptocurrency on the market are used for online trading and speculation, but this is only part of the equation. Mass adoption can only truly happen if people can use crypto to pay for their coffee during their morning commute. In order to solve this problem, we have laid out the foundations for an online and offline payment network, all centered around BUSD. This network covers everything from trading to consumption to business solutions.
Initially, BUSD will run on the Ethereum blockchain, but in the near future, all transactions will be performed on a highly scalable blockchain.
We here at BeTreasury recognize that the stablecoin market is still in its infancy, and the competition to be the dominate coin will be fierce. However, we firmly believe that BUSD’s unique traits and features will allow it to thrive in the cryptocurrency market.