Stablecoin LibreCash brings revolution to whole cryptocurrency world.
Currency review.
Stablecoin — cryptocurrency type, with the rate that attached to certain asset or currency (example, USD, EUR, gold, oil etc.), that allows providing low volatility (change of a rate) or to remove it at all. This cryptocurrency can be used as universally means of exchange and unit of account to determine/compare prices for goods and services, as well as using for fixing the results while trading on cryptocurrency exchange.
LibreCash would be one such stablecoins. This cryptocurrency is pegged to the USD like “1 to 1”, that is 1 LIBRE = 1 USD. But the interesting thing is the current project is developing a model, that offer to attach LIBRE rate to consumer market basket index.
What does that mean?
It’s no secret, that the national currency of different countries is subject to inflation Indeed, savings that you have in these currencies become to melting from year to year, and your deposit that earlier was equal to 2 Coca-Cola cans, in the short term will be equal just to 1 can. For this reason, some people store their savings in different assets, which, in turn, carry the risk of a collapse in prices.
LibreCash project was created for those people who don’t want to jeopardize their savings, but would like to buy goods for the same deposit regardless of external factors. It is fair to note that , LibreCash provides transparency of the entire system using LibreBank DAO, unlike to similar projects and it is always possible to check the availability of LibreCash in the LibreBank DAO reserve fund.
What is LibreBank DAO and how does it work?
The abbreviation DAO stands for “Decentralized Autonomous Organization”. This means that the system is self-sufficient — it works and exists without a single owner, and it is managed through the blockchain interaction, smart contracts and people, indeed.
You can compare this with an uniform organism, each part of which is in harmony, where the voice of each system participant is taken into account for making common decisions. There is nothing complicated about becoming a participant of such system if you will be able to purchase a part of the LBRS (LibreBank Reserve Share) tokens. Essentially, it is an asset of the reserve fund, through which the stability of the LibreCash token is ensured. Initially, the funds in the LBRS tokens will be invoked through the ICO. Further actions will be accomplished through exchanges and exchangers.
Proof-of-Reserve principle leads the top of the whole system , which means release of tokens as collateral for cryptocurrency assets, such as BTC, ETH, LTC.
As a result, we can say that stablcoin is transparent, decentralized project that prospect of becoming the leading crypto currency in this area.
Here is additional links for you to learn this project in more detail way.
Website: https://librecash.com
Bitcointalk announcements forum: https://bitcointalk.org/index.php?topic=3386155
Repository on Github: https://github.com/librecash
In the next part we find out where and how can buy LibreCash tokens.
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