Gemini launches Dolar Gemini (GUSD) in the blockchain of Ethereum

in #ethereum6 years ago

Screenshot_1.png

The exchange of the Winklevoss brothers, Gemini.com announces the launch of the "Gemini Dollar", available today September 10, 2018, an ERC20 token in the Ethereum blockchain that maintains parity 1: 1 with the North American Dollar.

Below is the translation of the original Gemini Blog Post by Cameron and Tyler Winklevoss

When we founded Gemini more than 4 years ago, our mission was simple: to build a bridge to the future of money. As a first step this involved making safe and easy the purchase, sale and storage of cryptocurrencies such as Bitcoin, Ether and ZCash. However, when fiat coins interact with cryptocurrencies, the differences between the traditional banking system and the cryptocurrencies become clear. While cryptocurrencies operate 24/7/365 (similar to email), fiat coins only operate during specific "office hours" (such as physical mail), a fundamental incompatibility. As a next step in our mission, we must improve the link between these worlds by giving the fiat currency the same desirable qualities as cryptocurrencies.

To date, there has not been a reliable and regulated digital representation of the North American Dollar (USD), which moves in an open and decentralized manner like cryptocurrencies. Introducing the Gemini Dollar - a stable value currency (often called "stablecoin") which is (i) generated by Gemini, a trusted New York company, (ii) strictly linked 1: 1 to the USD, and (iii) ) built on the Ethereum network according to the ERC20 standards for tokens. Dolar Gemini (symbol GUSD) combines the credit value and price stability of the USD with blockchain technology and the supervision of North American regulators, in particular, of the New York State Department of Financial Services (NYDFS). You can read more about the Gemini dollar - the first regulated stablecoin in the world - in our white paper.

Starting today, September 10, 2018, at 10am Eastern Time, you can convert the USD into your Gemini account, in Gemini dollars and withdraw it to an Ethereum address that you specify. You can also automatically convert Gemini dollars to USD by depositing them to your Gemini account

The exchange of the Winklevoss brothers, Gemini.com announces the launch of the "Gemini Dollar", available today September 10, 2018, an ERC20 token in the Ethereum blockchain that maintains parity 1: 1 with the North American Dollar.

Below is the translation of the original Gemini Blog Post by Cameron and Tyler Winklevoss

When we founded Gemini more than 4 years ago, our mission was simple: to build a bridge to the future of money. As a first step this involved making safe and easy the purchase, sale and storage of cryptocurrencies such as Bitcoin, Ether and ZCash. However, when fiat coins interact with cryptocurrencies, the differences between the traditional banking system and the cryptocurrencies become clear. While cryptocurrencies operate 24/7/365 (similar to email), fiat coins only operate during specific "office hours" (such as physical mail), a fundamental incompatibility. As a next step in our mission, we must improve the link between these worlds by giving the fiat currency the same desirable qualities as cryptocurrencies.

To date, there has not been a reliable and regulated digital representation of the North American Dollar (USD), which moves in an open and decentralized manner like cryptocurrencies. Introducing the Gemini Dollar - a stable value currency (often called "stablecoin") which is (i) generated by Gemini, a trusted New York company, (ii) strictly linked 1: 1 to the USD, and (iii) ) built on the Ethereum network according to the ERC20 standards for tokens. Dolar Gemini (symbol GUSD) combines the credit value and price stability of the USD with blockchain technology and the supervision of North American regulators, in particular, of the New York State Department of Financial Services (NYDFS). You can read more about the Gemini dollar - the first regulated stablecoin in the world - in our white paper.

Starting today, September 10, 2018, at 10am Eastern Time, you can convert the USD into your Gemini account, in Gemini dollars and withdraw it to an Ethereum address that you specify. You can also automatically convert Gemini dollars to USD by depositing them to your Gemini account

Sort:  

Source
Plagiarism is the copying & pasting of others work without giving credit to the original author or artist. Plagiarized posts are considered spam.

Spam is discouraged by the community, and may result in action from the cheetah bot.

More information and tips on sharing content.

If you believe this comment is in error, please contact us in #disputes on Discord

So bold and gorgeous, friend.

thanks my friend

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://www.jackobian.com/threads/winklevoss-twins-announced-a-stablecoin-backed-by-usd.98228/

Congratulations @youtubelife! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

Award for the number of comments
Award for the number of upvotes received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

SteemitBoard - Witness Update

Support SteemitBoard's project! Vote for its witness and get one more award!