Steemit Crypto Academy Week 7 - Stable Coins II - USD COIN [@yohan2on]

leomolina (68)Beginner[2,4,5,6,7,9]in SteemitCryptoAcademy • 3 years ago (edited)

First of all, I want to thank the Steemit Crypto Academy community for bringing to the Steemit platform this window to learn more about cryptocurrency and everything that comprises blockchain.

I also want to thank our teacher @yohan2on for always being attentive with his evaluations and leaving assignments of personal interest and benefit, which brings us double play in this community, as we learn and earn while developing content.

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We are in a process of financial adaptation, where the world has always had resistance to change, both culturally, educationally, economically, to name a few situations. But it is the facts and reality that give motivation and interest to the entities to take the step towards the new trends.

Since about 5 years ago, the cryptocurrency theme has become predominant, and large corporations worldwide have turned around to look at this new financial model. There are many facts and reasons to stay in the race, and as long as the results continue to be beneficial, more users will be added.

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THE TRANSITION

Adaptation is not easy, especially when we come from a thrifty economic culture, where it is more important to fatten a figure in bank accounts than to try to invest and obtain profits with another economic activity different from the company's primary corporate purpose.

This is where stablecoins play an important role. A cryptographic representation that establishes parity with blockchain and our investment capacity, which in turn provides the possibility of making transactions in the same measure as the fiduciary availability is being generated.

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USD COIN

USD Coin (USDC) is a fairly new stablecoin, which is pegged to the US dollar. It was unveiled on September 26, 2018, thanks to the Circle consortium's collaboration with Coinbase. USDC is one of the alternatives that we can find in the market alongside other cryptocurrencies that are also backed by the USD, such as Tether (USDT) or TrueUSD (TUSD).

USD COIN is undoubtedly an alternative and financial transition instrument, which due to its proven capacity in its trajectory and the stability that makes 1:1 relationship with the US dollar, becomes the ideal tool to take the first step towards blockchain.

But there will always be the uncertainty of the security and stability of USD COIN or TETHER in the cryptographic future of new investors.

Based on the principle of wealth preservation, what an accountant would advise is to keep the assets safeguarded and invest in projects that are necessary for the benefit of the company, based on the company's own activities and corporate purpose.

But nowadays the circumstances are different due to the changing economy we live in, for example, right now we are going through a pandemic which has directly influenced corporations whose business purpose is not the primary resources of the population, some of them dedicated to entertainment, tourism, sports, clothing, and many have gone bankrupt because their sales have decreased and in the same proportion their income.

So, under these circumstances, blockchain in direct connection with its stablecoins could provide a way out and useful, allowing to generate an extra income, which in turn will be molded to an ordinary income and be given the position it deserves within a financial statement.

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STABILITY

Currencies such as USD COIN and TETHER are linked in a 1:1 relationship with the US dollar, which is a FIAT that has hierarchy in the global economy, thanks to the good administration and political management of a first world country such as the USA.

But no one escapes a downturn along its trajectory, and getting up will depend on the strength and credibility that users have for it. This scenario is critical for an investor, which contrasts with what we really expected.

Therefore, one must be very clear about what a stable coin offers, since it is not the one that will bring us dividends at the end of a fiscal period, but it will be the instrument to include us in the cryptocurrency play.

To participate in this task in the same way I did, I invite you to enter this link and follow the conditions indicated by the professor:
https://steemit.com/hive-108451/@yohan2on/steemit-crypto-crypto-academy-week-7-stable-coins-part2.

Always grateful for the input provided by our curator @steemcurator01, who has become very helpful and supportive to us content developers at Steemit.

Thanks for your reading, and see you in an upcoming assignment from our teacher.

Best regards.

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