Hello steemit friends, this is my first homework at Steemit Crypto Academy. The assignment for this week is to write an article that will explain one of the 4 stable coins given by professor @yohan2on which are: USD Coin (USDC), TrueUSD (TUSD), Paxos Standard (PAX), and Digix (DGX). For this discussion of StableCoin part 2, I want to write on TrueUSD (TUSD) as the main topic in my article.

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What Is TrueUSD?

TrueUSD was developed on the TrustToken platform, and introduced in early 2018, which is used to create tokens backed by several other tradable assets around the world. TrueUSD is designed to be a simple, transparent and trustworthy stablecoin, where TrueUSD does not use bank accounts that have a special and non-hidden algorithm. It can therefore be defined that TrueUSD is a stable currency and has the same value as fiat currency (United States Dollar). 1 TUSD = 1 USD. This makes that TrueUSD better than tether stable coins.

TrueUSD Features and Characteristics

• Stable value: The value of TrueUSD is supported by the USD, making it stable and usable on any cryptocurrency exchange.
• Legal basis: Must pass the KYC/AML standard test so that it has the full right to use TrueUSD legally.
• The 1:1 ratio between TUSD and USD: TrueUSD redeemed in USD is always held in the company's bank publicly.
• Innocence: TrueUSD accounts will be communicated transparently to the public and subject to monthly audits conducted by third parties in good standing.
• Bank-level security: TrueUSD regularly conducts independent third-party assessments by leading auditors to ensure the best possible implementation of privacy.
• Cash withdrawals directly at the bank: Users do not need any interaction with TrueUSD When wanting to exchange money for USD. Instead, users can connect directly with the company's banks.

How TrueUSD works

As mentioned above in trueusd features and characteristics, one must require a KYC/AML process to buy or sell TrueUSD. When passing the KYC/AML exam, one will freely purchase or sell TrueUSD using the Application and Website to a trusted TrueUSD partner.
When a person has passed the KYC/AML exam, they can then deposit to a trusted company with a storage agreement. Then the trusted company will verify the money, the API instructs the TrueUSD contract to issue an TUSD equivalent to your public address. To withdraw USD, one must pass a KYL/AML check, then send a TrueUSD contract from the registered address, then the bank will monitor and send the money.

Conclusion

That's my explanation of TrueUSD with all its features and uses. After I read many articles in the making of this article, I concluded that TrueUSD is a stable currency and has the same value as fiat currency (United States Dollar). 1 TUSD = 1 USD. This makes that TrueUSD better than tether stable coins. And TrueUSD is a simple, transparent and trustworthy stablecoin.

So many explanations from me about TrueUSD and I apologize if there are still many mistakes that you can get when reading my explanation earlier, I would be very grateful if there are any inputs and suggestions, can tell me in the comments field.

Thank you for reading my article, hopefully useful to all readers.

CC:
@yohan2on
@steemitblog
@steemcurator01
@steemcurator02