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White Standard - Stable Coin
- There is no stable, audited or fully transparent coin in the market
- The cryptocurrency markets need a simple “cash” alternative for investors to transact in and out of other crypto holdings
- The core promise of fast payments with cryptocurrency is not realized due to volatility of all major cryptocurrencies
The main competitor to offer a coin that is 1:1 backed by $1USD, Tether, does not provide current audited information. Tether has been suspected of not maintaining funds on deposit to back Tether Tokens issued and is being investigated as a fraud by the CFTC
Another competitor, TrueUSD, has limited use because it only allows token<->USD (not currently available to public) or trading through exchanges. It has no payment system or any usability besides being an alternative to Tether on exchanges.
Solution: White Standard
- Transparency: White Standard will publish daily reports of the $USD balance on deposit and our third party administrator will verify and audit a monthly report
- Simplicity: White Standard token is built on the ERC223 standard (running on the Ethereum network), its code is open source and is audited and verifiable by the public, confirming that it’s secure, fast and effective
- Stability: Each White Standard token is equal 1:1 $USD and can be subscribed or redeemed at any time. Creation or Deletion of White Standard tokens will reflect the $USD balance on deposit
Customer Value Driver: Simple exchange of $USD<->WS, ETH<->WS and BTC<->WS allowing crypto holders to have a stable, $USD backed “cash” option that has all the benefits of decentralized cryptocurrency
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