Unicash (UXC) vs other stable coins
In the previous post, we talked about Unicash, the stable currency wrapped around the entire UniFox ecosystem. We announced that we had started negotiations with associated ATMs so that UXC could be possibly implemented within their system all across Europe. Unicash is currently in testing mode and will be live very soon. Today, we are about to tell you more details about this stable cryptocurrency that aims to facilitate mass adoption and has been structured for daily use in the real world.
We want to introduce it in an official way so you can easily understand the advantages of using Unicash and benefits it offers in comparison with other stable coins.
Unicash (UXC) is a common accounting unit for the entire UniFox ecosystem and is stable in comparison with FIAT, and performs the role of a unit that is the only one fully compatible with the world of cryptocurrencies (and therefore applicable within smart contracts) and also the FIAT world money. Unicash is the main link of all parts of UniFox and thus also link to FIAT currencies. A stable coin is a cryptocurrency that has price stable characteristic and is pegged to a stable asset, such as gold or fiat currencies. The combination of liquidity and the ability to use cryptocurrencies as consistently as ordinary money is the key to linking the world of cryptocurrencies with the current economy. Forbes published a very interesting article entitled “Explaining Stable Coins, The Holy Grail of Cryptocurrency” where they present a general intro to stable tokens.
The key feature of Unicash is the technological nature of the cryptocurrency and, therefore, the impartiality of the transactions and, at the same time, the use in the convenient payment system itself. There is a gigantic stability and liquidity provided by the growing infrastructure in the form of a network of online exchange offices, ATMs and POS terminals, and as we announced in the previous blog post, we are constantly working to get Unicash adopted all around the world, and we have started to negotiate with associated ATMs so that Unicash (UXC) could be implemented, as the very first stable cryptocurrency, within its system in Europe.
Unicash is fully transparent, is pegged to money index and will be backed by real assets such as real estates and others. It serves as a medium for withdrawal or deposit from the FIAT world, and as a difference with the most known stable tokens that live only within blockchain and can’t be directly exchanged for local currencies, you’ll be able to buy Unicash anywhere in the world via online local exchanges or by cash thru the ATMs.
Are you able to imagine what it means? Each exchange, where UXC would be listed, would be instantly accessible with fiat (local currencies) — WorldWide! Together with the ability to spend UXC in the real world, this means real usability of the stable currency!
How we are different:
Have you ever used Western Union or similar services to send money abroad? How was the process? Did you like it? How big fees did you pay? How long did it take to transfer the money? Did it work during theholidays? We can imagine the answers!
Once the user owns Unicash, it means new possibilities:
- Ability to choose from a network of ATMs and online exchanges all around the world. Unicash might become the very first stable cryptocurrency to get implemented in ATMs.
- Possibility to use cryptocurrencies in the network of shops with UniFox POS terminals (currently over 26 million PAX terminals worldwide!).
- Possibility to deposit to crypto exchanges directly with FIAT money.
- Can be used for travelling worldwide (imagine that you travel just with a phone and withdraw local currencies through ATMs worldwide f.e. immediately on airports).
We need stable coins
We all have heard that stable coins are the cryptocurrencies that will help to accelerate the blockchain mass adoption. Useful stable coins are needed for blockchain innovation and represent the cutting edge of what blockchain technology is capable of achieving for money. Bitcoin and Ethereum, the two main current cryptocurrencies, have prices that fluctuate a lot and are still too volatile for average people to use it regularly. This price fluctuation makes them unsuitable for daily payments and transactions and, therefore, lacks the important property of money.
For cryptocurrencies to become widespread, we will need price stability to give users the confidence to make daily transactions. The total adoption of stable currencies will alleviate the worry of having to make purchases with the volatility of the current main cryptocurrencies of the market.
Feel free to read the article below posted by Cointelegraph. If you think of Unicash when reading it, then you understood today’s blogpost correctly.
If we are to see the displacement of fiat currencies, stable coins will be the way to get there.cointelegraph.com
From Friday to Monday!
As we move forward to new steps and challenges, we decided to change a date of blog post releases! From now, we will bring you all the new blog posts on Mondays, so you can start every week with good news and exciting readings served by us. Stay tuned for more upcoming news and as always, don’t hesitate to let us know if you have any questions!