Hello Community.
KONPAY desires to build a new payment service system that can improve the problems of high fees and long settlement cycles.
Many alternatives have been proposed so far to solve the high volatility of cryptocurrencies, but among them, stable coins are presented as a good alternative that can be applied to real life. However, in the case of Tether, stable coins also carry the risk of lack of centralization and transparency, such as controversy over bank account audits. In addition, if the purchase transaction exceeds the total size of the stable asset serving as collateral, it is vulnerable to price volatility like other digital assets.
Nevertheless, the advantage of asset-based cryptocurrencies such as stable coins is that the price of the cryptocurrency is stabilized by an underlying asset that is separated from the pegged fiat currency. In this case, since it can be converted into the value of fiat currency regardless of the fluctuation in the value of the cryptocurrency, it has the advantage of being free from the risk of a decrease in value as a result. Therefore, if we implement digital assets that have the inherent value of a utility coin along with the advantages of these stable coins, and that emphasize the original goal of replacing the existing payment system, it seems that some of the high price volatility problems can be solved.
CHECK OUR LINKS
⚙️Webpage: https://konpay.io
🐦Twitter: https://twitter.com/konpay_official
📱 Xangle: https://xangle.io/project/KON/key-info
💡 Telegram Channel: https://t.me/Konpay_community
💻 Medium: https://konpay.medium.com/
📡 Gitbook: https://konpaywallet.gitbook.io
