You have found out about Bitcoin, Ethereum, and a great many different digital currencies. A great deal of us talk about how the cost of cryptographic forms of money are not steady and how it vacillates each day, if only one out of every odd moment. 2018 was the year for stablecoins and it appears as though that is proceeding.
A great deal of financial specialists and examiners were searching for an approach to “park” their crypto possessions without changing over to dollar/s so as to maintain a strategic distance from charges on capital increases. It worked for certain speculators until crypto to crypto transformations are burdened in nations like the U.S. Be that as it may, stablecoins like Tether and MakerDao have been utilized past “sparing us from crypto charges,” yet additionally to store riches (esteem), without stressing over the change in cost.
What Are Stablecoins?
Stablecoins are a sort of cryptographic money that has their worth pegged to another benefit like fiat monetary standards, for example, the United States dollar, different digital forms of money, valuable metals or wares. Fiat is by all accounts the most well known alternative in the commercial center at the present time, which means one unit of a stablecoin rises to $1.
Before we talk about Reserve Protocol, a stablecoin we accept is genuinely decentralized, we should make reference to what’s going on in nations like South Sudan, Zimbabwe, Argentina, Turkey, and Brazil.
What is Happening in Those Countries?
A lot of people from the middle and poor class (even the upper-middle class, in a lot of cases) are losing the wealth they stored for decades in a matter of months to a few years due to poor economic performance and hyperinflation.
Their economy is failing day by day, but it is the individuals who are paying the price. How? Imagine if you can buy milk just for $3 (in your local currency) but next month the cost of milk rises to $4. That is a ~34% increase in just a month.
What if such a price effect is happening in every industry and every commodity in your country?
The meat you eat, the tomatoes you use for your salad, and even the sugar you use for your cup of tea are all rise up in price. You basically lose the wealth you have saved in your currency. Your currency power to buy everyday goods becomes weaker.
It is even scarier to think that these people don’t usually have the power to protect themselves from currency depreciation, as they just don’t have the opportunity to buy foreign stable currency.
YES, that is what is happening in a lot of countries in Africa, Latin America, and even Europe. What if there is a currency that can save you from losing your wealth? That is where Reserve Protocol comes in.
Introducing Reserve Protocol, the stable currency that is pegged to the dollar and soon to other assets, possibly including treasury bills, bonds, etc. At Reserve, we are excited to work with a team of entrepreneurs who are working to protect YOUR money.
We are also backed by the most successful Silicon Valley investors and companies including but not limited to PayPal founder Peter Thiel, YCombinator president Sam Altman, and Coinbase Ventures.
“With millions of financially displaced people watching helplessly as their wealth evaporates by the day, stablecoins can empower inflation-ravaged populations with the monetary constancy of the developed world. In distressed economies, stablecoins enable citizens to seamlessly migrate their wealth and savings into asset-backed digital currency accessible on their mobile phones.
Circumventing transaction monitoring by local banks, a widely adopted stablecoin ecosystem disables the financial surveillance capabilities of corrupt regimes. With a skillfully deployed stablecoin, people and businesses can transact peer-to-peer, using electronic money with more intrinsic and predictable value than their distressed local currencies.” ~ Robb Henshaw, Reserve Advisor.
How Does Reserve Work in Simple Terms?
Reserve Protocol uses an app that connects to the blockchain which, through a smart contract, keeps the price of RSV (our stablecoin) token pegged to a dollar. An end user that is willing to exchange his money for a stablecoin just logs into the app and via pressing a few buttons gets RSV tokens for his national currency.
As RSV price is always stable, an individual is protected from all of the price movements and other inflation-related problems. When users want to spend their money to buy something, he or she can easily exchange RSV back to the national currency.
We are very excited that we will soon launch our mobile app to help you purchase Reserve dollars on the African continent. We have launched a bounty program to reward early adopters like you with Reserve tokens that are worth $500 in total.
Please join our bounty program by visiting our Telegram channel, WhatsApp group, Facebook page, and Twitter. It should only take 30 seconds of your time. Please share our article on Facebook, Twitter, and other social media to increase your chances of winning the prize.