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Bitcoin Global News (BGN)
November 09, 2018 -- ADVFN Crypto NewsWire -- In the Year of
the Stablecoin, the differences between stablecoin projects have
been hard to figure. In the beginning, there was Tether and perhaps
two or three others and that was the extent of the stablecoin
niche. Now, in less than a year, it has ballooned to the point
where you cannot even count all of the applicable projects on two
hands. Because this trend seems to show no sign of slowing down any
time soon, the differences between stablecoins bear some
explaining, where they exist. For this particular piece, we have
chosen the Aryze ecosystem, due to some of its unique features that
make it more than a simple peg between crypto and fiat
currencies.
First and foremost, with Aryze,
there is the fact that it is based in Denmark. Furthermore, a
strong argument can be made for it having a special sort of
utility.
Aryze is more than just a
stablecoin with no usable platform around it. The chief reason this
can be said is because of their multi-currency wallet called “The
Mother of All Payment Apps,” or “MAMA.” In the team’s white paper,
MAMA is described as actually being less of a wallet and more of a
sort of payment ecosystem that will be easily usable for everything
from spending and saving to exchanging fiat currencies as well.
What actually seems to make this effort viable is the team’s clear
business plan for MAMA, which involves getting banks and financial
technology companies to buy into it as a good choice for their
customers. If you are wondering how they plan to incentivize this,
it all reportedly comes down to the idea of a customizable software
development kit for each and every partner.
If these companies want to make
MAMA more friendly to their existing systems and processes, then
they can. This ability should take away some of the reticence on
the part of banks and other financial services providers who see
cryptocurrencies as a threat to their existing business models.
Overarching all of this is the idea that stablecoins should be less
volatile than any other cryptocurrencies, by definition.
Given that Aryze is still in its
early stages and plans to develop several stablecoins, it will be
interesting to see if this is the project that can finally drive
adoption at a larger scale. Perhaps it will even unseat
Tether.
By: BGN Editorial Staff
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