CORIONX - Revolutionizing Stablecoins, CBDCs and Decentralized Finance

lachious (35)in #blockchain • 4 years ago (edited)

PREAMBLE

There is no gainsaying that the invent of blockchain technology has rebranded the way things are done in the traditional payment industry. Despite that cryptocurrency is a revolutionary way of providing solution to the payment industry, the fluctuations in their value have made them risky investments, and people are scared of using it for making payments. Despite the numerous advantages cryptocurrency provides, the challenge of volatility in the cryptocurrency industry has been a major concern for its users.

Cryptocurrency and volatility are synonymous because the two work together. To some Crypto enthusiasts they love the volatility nature of Cryptocurrency while some do not. This volatility challenge has led to the development of different stable coins projects which are created to reduce the volatility of cryptocurrencies and also central banks are working to create their own digital currencies.

ABOUT CORIONX

CorionX team believes that stablecoins can be a gateway between the current digital payment methods and crypto assets. There are many benefits in case of usage of stablecoins like cheaper transaction fees, traceability. Furthermore it make sense to track the other non- USD pegged stablecoins like Gold backed stablecoins, which are an extremely innovatiove way to hold gold as an investment form.
Corion Foundation is a swiss based foundation that is committed to the development and spread of stable coins across the globe. The foundation major aim is to help projects that provide blockchain based stable coin use cases, Decentralized Finance (DeFi) services, also initiatives and platforms that support the launching and spreading of Central Banks Digital Currencies (CBDCs).

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Decentralized Finance (DeFi) is an ecosystem that offers an alternative, adaptable framework where traditional and innovative new financial applications can be quickly developed and easily accessed by all. There are a lot of benefits offered by DeFi via the use of smart contracts, using a financial application becomes simple and secured.

Central Bank Digital Currencies (CBDC) is a new form of digital central bank money that can be distinguished from reserves or settlement balances held by commercial banks at central banks.

Stable coin is a new type of cryptocurrency that has emerged and aimed at achieving the benefits while marginalizing the volatility of some of its predecessors. Stable coins achieve price stability by having their value pegged to assets like dollars, euros and other currencies which are issued by the government or financial institutions.

WHY STABLECOINS, DeFi AND CBDCs?

In the crypto industry, stablecoins are becoming more popular and its acceptability is on the high side and CBDC is also inclined in the same movement. As the blockchain and crypto space experience similar functions of traditional banking through Stablecoins, expansion of the user base becomes easier. To fully explore or harness the full potential of the blockchain technology and crypto, it is imperative to simplify and overcome the hindrances to the adoption of crypto which if achieved will lead to more people using crypto globally.

Initially, blockchain does not aim to create CBDCs, but development has made it possible to integrate them with other stablecoins and DeFi protocol and that is the main reason Corion Foundation supports the spreading and understanding of CBDCs.

The aim of the team is to promote the global acceptance of stable coins, Decentralized Finance (DeFi), Central Bank Digital Currencies. Corion Foundation will create a platform that will unite projects that offers stable coins services, DeFi and CBDCs so that everybody will have a quick, secured and inexpensive banking in spite of the wallet they make use of.

There are already planned progressive activities by Corion Foundation geared towards the generalization of stable coins and also unique support to stakeholders, partners and members.

Corion Foundation will provide an all round and satisfying infrastructures that will enhance the usage and ease of use of stable coins which will eventually contribute to the mass adoption of stable coins worldwide.

Infrastructures to be provided include:

· Wallets

· Exchanges “Swap” interfaces, DEXs, Fiat-Stablecoins Gateways, Liquidity providers

· Merchant Gateways, Payment providers

· Lending, DeFi (Decentralized Finance) and other Open Finance Platforms

· Issuers and service providers of CBDCs

· Other traditional and crypto businesses, platforms, protocols, dapps, applications and nonprofit organizations.

CORIONX TOKEN

CorionX is an ERC 20 compatible, ethereum based utility token and it is for the use of stablecoins, CBDCs and DeFi. It creates the structure for education and promotion of stablecoins payment option throughout the globe.
The second phase of the IEO is ongoing at the time of writing this article. Visit the website https://corion.io/corionx/ for more information.