CEO Havven: Tether can cover the same as eGold
In a sense, eGold can be called the harbinger of cryptocurrency. It is a means of payment for itnernet payments was in operation from 1996 to 2008. Legally eGold was a receipt on the placement of a certain number of gold deposited in the company E-gold Ltd, actually is electronic money, the issuance of which, as a Tether, carried out by a private company.
Today Tether is the most popular steilcoom, but the debate about the nature of this project does not subside until now. The main question to the Tether – is not Scam. Lawyers from Washington have confirmed the availability of funds in the accounts of the Tether, but a full audit of the company has not held. That’s why the theme of confidence in USDT, asset Tether, regularly raise various representatives of kryptonyte. Today about Tether decided to speak CEO Havven Kane Warwick.
Kevin decided to talk about the Tether for a reason. Havven also produces stabilin – nUSD, the asset tied to the dollar and is designed for use on any platform. The same stablon until the end of 2018, will launch on EOS.
Back to eGold. Warwick says that this asset was very popular long before the invention of Bitcoin. The Internet needed its own currency and attempts to create a secure payment tool rooted in the early 1980s. One of the implementations of the idea of Internet money is eGold. In 2006, through this system, sent payment in the amount of $2 billion But the authorities did not go down with the help of the lawsuit (Yes, eGold started to launder the money, though the company declared willingness to cooperate with the government) the project was closed. It was easy, because eGold was centralized service.
The same can be done with the Tether, says Kevin Warwick and this is the main problem of the company. “The question is not whether the secured USDT Fiat dollars or not, he says. The problem is that there is a risk of interference in the Affairs of the Tether. It is a private company, it has Bank accounts, which store all of these tools, and if the regulator decides that the activities of the Tether does not comply with legislation, they will face serious problem. If with a Tether that will happen, not because of the discussions in the community.”
According to Warwick Tether can cover as well as it did with eGold. Financial regulators understand what a Tether, and they are not too happy with that. The only reason regulators haven’t closed the project – lack of information. Kane is confident that due to the fact that to most outside observers, the stock market still represented only by Bitcoin, many people think that the rest of cryptoprocta are decentralized. But it is not. Therefore it is necessary to keep in mind that the manufacturer USDT can cover at any time.
“I think that Bitcoin is for Tether and other centralized cripture is something like a massive smokescreen – says Warwick. Regulators believe that these services are arranged by the same principle that they cannot be adjusted. But the question is, what happens if the regulators realize that unlike Bitcoin, will be able to deal with centralized services.”
Warwick believes that the answer to this question can serve as a decentralized stablon. And a few better. Because like it or not but a day via Tether is $2.7 billion But steady coins that are running decentralised services enough. It kUSD from Kowala, and Dai from MakerDAO, and TUSD from TrustToken, and USDC from the Circle and Stronghold USD, EUR and Stasis, and of course stablon Havven. So if Tether screw, disaster will not happen, but the commotion is.
“Centralized crypto currency exchange of unrelated, says Kane. – If one is hacked, others continue to work. But Tether is an asset that combines a bunch of trading sites. So if something happens to that company, we get a Domino effect.”
In order to avoid this Warwick offers to go with USDT other, decentralized stabilini. The end.