IN THIS DOCUMENT, WE PRESENT THE USD INVERTE TOKEN, A DIGITAL ASSET FULLY GUARANTEED ONE BY ONE PER USD, ISSUED BY BITNATION LIMITED SRL AND HANDLED BY INVERTE. WE EXPLAIN THE ADVANTAGES USDI BRINGS TO FINANCIAL MARKETS, ALLOWING PARTICIPANTS TO TRANSACT ON A RELIABLE AND SECURE ASSET, BACKED UP AND DENOMINATED IN USD WITH THE BENEFITS OF BLOCKCHAIN TECHNOLOGY AND INVERTE MONITORING.
WE BELIEVE THAT USD INVERTE REPRESENTS A SIGNIFICANT ADVANCE IN DIGITAL ASSETS IN LATIN AMERICA, LEVERAGING INFRASTRUCTURE, OVERSIGHT AND STABILITY, WHILE OPERATING AT INTERNET SPEED.
THERE IS A CLASS OF DIGITAL ASSETS APPROPRIATELY REFERRED TO AS "STABLE CURRENCIES" SPECIFICALLY DESIGNED TO ADDRESS THE VOLATILITY OF SOME CURRENCIES SUCH AS BITCOIN OR ETHER. THIS IS A CATEGORY BUILT TO MAINTAIN A CONSTANT VALUE OVER TIME. ALTHOUGH STABLE CURRENCIES HAVE GAINED SOME GROUND.
All blockchain changes are recorded and committed in a decentralized manner that is created specifically to democratize access. Instead of using a reliable broker to facilitate transactions, blockchain serves as a reliable consensus-driven protocol.
Bitcoin took the concept of decentralization further, so there really isn't a central figure to oversee it, and few people claim to know even their parent. However, even in this case, the low number of central developers (several dozen with regular code commits) and mining groups (under 10) show that this egalitarian spirit remains de factor quite centralized, even if I say it might not be.
Many people are also confused by the lack of physical support for digital assets for something of inherent value or by order of government. In addition, the volatility of these assets makes them look more like investment vehicles than forms of payment.
However, controls integrated into the digital asset ecosystem still suffer compared to the very rigorous systems that already exist for regulation, supervision, auditing, insurance, etc. in traditional finances. Because these systems are incipient at best for digital assets, traditional assets remain morereliable.
Blockchain technology has introduced exceptional innovations (distributed ledgers, decentralized trust, smart contracts, etc.), but it has not improved the basic principles that characterize money, nor has it created the public confidence needed to achieve popular adoption.
USD Inverte is designed to leverage the new innovations of blockchain technology to improve the function of money, while backing a traditional infrastructure that can ensure it is reliable. In other words, such as a trust company and a financial institution that issues a token backed by U.S. dollar deposits, Bitnation Limited can offer a token that combines the trust and stability of the fiduciary currency with the usefulness and immediacy of digital assets.
One of USDI's purposes is to facilitate access to cryptocurrencies in the Caribbean, then Latin America and finally expand to other continents, the expansion will be country by country starting in the Dominican Republic and all without commissions.
USD Inverte, or USDI,is a token backed one by one by USD deposits and available through Bitnation Limitd. USDI is available one by one in exchange for USD and can be redeemed one by one for USD. Once redeemed, USDI tokens are immediately withdrawn from supply; USDI only exists when the corresponding dollars are in custody.
Bitnation Limited accepts dollar deposits and issues USD Inverte tokens that can be easily exchanged, traded and transferred without friction. Currently, the economy of digital assets is fluid, global and fast, but it faces significant obstacles in trading between digital assets and fiat due to the delays inherent in the traditional banking system. USD Inverte gives users the convenience of maintaining their liquidity in digital assets while maintaining stability.
USD Inverte is as good or better than fiat in each of its functions: it is easier to exchange, maintains the same unit of account and provides the same value deposit.
USD Inverte tokens are issued and redeemed by Bitnation Limited SRL,Bitnation issues USDI directly without the need for intermediaries. This allows for more efficient operations, including shorter redemption windows (USDI can be redeemed for dollars in a business day) and lower rates.
The digital asset space is still young, so we expect the initial use cases of USD Inverte to be quite different from future use cases. On the immediate horizon, we expect these applications to be adopted more quickly:
Mobility and liquidation of assets A tokenized representation of USD resolves the friction between digital assets and fiat. Due to bank restrictions, it takes time and money to convert digital assets into fiat. Instead, USD Inverte creates a "trading base" for the dollar in the digital world, with instant settlement when switching to USDI instead of USD. In other words, USD Inverte will help the rapid and efficient settlement of the cash component of digital asset transactions, and frequent traders will prefer to have cash in USDI rather than USD for their increased profit and liquidity. In the future, USD Inverte can assist in frictionless mobility and rapid liquidation of any asset, not only digital assets, but also commodities, securities, real estate and even more esoteric assets such as works of art and collectibles.
Ecosystem development To begin with, we expect digital asset exchanges to include USDI and large OTC operators to offer USDI as a cash withdrawal option. Both categories will offer USDI in response to likely immediate customer demand.
Interest is then likely to come from other companies that similarly have high-order transactions or a large volume of transactions, which would be interested in lower rates and instant low-risk settlement. This could include payment processors, financial institutions, large multinational corporations seeking lower rates in cross-border internal transactions and large retailers, leading to increased consumer interest.
The potential of USD Inverte is much deeper. The promise of the concept is a fluid digital asset that can be easily moved anywhere, at any time, in a reliable way with a universal understanding of exactly how much value it represents. Given this baseline, there are endless implications for how this new digital asset can influence global trade and commerce while allowing access. We visited some of these possibilities here.
Blockchain-based common payment system USD Inverte can serve as a common blockchain-based payment worldwide. Built on the Ethereum blockchain as an ERC-20 token, USD Inverte is useful in a wide range of applications and an immediate potential footprint worldwide. Instead of issuing new money, as attempted with previous currencies, USD Inverte provides a more stable representation of existing money with an accepted and reliable value. USD Inverte aims to make all assets, fiduciary or digital, more fungible and liquid, providing a common payment for transactions within and between asset classes. Available for trading on global exchanges, USD Inverte is designed to be flexible, fast and global from the start, and its global utility could allow the USD to essentially become the world's common currency.
International transactions and remittances USD Inverte can function as a common payment globally, allevating the friction of international payments currently found in cross-border remittances and global trade and transactions. Basically, USD Inverte could eliminate cross-border transaction fees, allowing trade and trade to occur more smoothly. This improvement alone in the current system could unlock billions in currency exchange rates.
USD Inverte tokens are specifically designed with simplicity in mind. In exchange for $1 USD, 1 USDI is issued. Similarly, on the redemption side, 1 USDI can be redeemed for $1 USD. The exchange will always be one by one. Because of this simplicity, the entire system can be written as a basic smart contract, ensuring that it operates under these rules in a scheduled manner.
As a smart contract in the Ethereum blockchain, USD Inverte follows the ERC-20 protocol. Ethereum is a decentralized blockchain-based ledger that supports smart contracts; with over 100,000 smart contracts, Ethereum is the most widely used digital asset platform. A smart contract is a combination of data (for example, an account balance table) and scheduled procedures for working with that data (for example, a scheduled procedure for transferring balances between accounts). Both data integrity and fidelity of procedure executions are ensured by the distributed consensus protocol of the underlying Ethereum blockchain.
ERC-20 tokens are Ethereum smart contracts that follow a standard protocol for representing custom tokens in the blockchain. Specifically, the contract must declare the basic characteristics of the token (name, symbol, decimal precision), track the total number of tokens, track a token balance for each Ethereum address, and allow address owners to transfer portions of their balance to other addresses.
Because USD Inverte follows the standard ERC-20 protocol, most Ethereum-supported wallet applications and exchanges already have built-in support for viewing and transferring USDI. While the initial issuance of a token and token redemption for USDI occur through USDI,anyother transaction in USDI follows the smart contract written according to the ERC-20 specification, relying on network providence rather than any broker.
In short, the benefits of an ERC-20 contract on Ethereum are: