Project Introduction #33: Corion, Encourage World-wide Adoption of Stablecoins

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Money has been a part of human history for over 5,000 years. From the origins of bartering to modern crypto money, this is how the system has evolved. At the dawn of humanity, bartering was utilized in lieu of cash to shop for goods. As the man began to domesticate livestock, one among the earliest kinds of barter included cattle, sheep, as well as vegetables, and grain.

From those traditional to the primary Peer to peer payment protocol by Satoshi Nakamoto, Bitcoin. Bitcoin opened a gateway to the new technology of the internet in value transfer by using blockchain. Although blockchain-based cryptocurrencies are in a very embryonic age, they could assume all the functions of money: medium of exchange, measure useful, store valuable, unit of account, a customary of postponed payment, the idea of credit.

The solutions and advantages that blockchain provides are recognized by the most important companies. Blockchain brought a revolution of digital asset transfers. Anyone can transfer assets using blockchain at any given time, swiftly and for a really low cost. It makes sending, receiving, and storing assets possible on an easy device without the involvement of a 3rd party.

Ben Milo – Baaz

Stablecoin, Cryptocurrency that is Pegged to Another Stable Asset

Stablecoin is a cryptocurrency that’s pegged to a different stable asset, like gold or the U.S. dollar (or other FIAT currency). It’s a currency that’s global, but is not tied to a financial organization and has low volatility. this permits for practical usage of using cryptocurrency like paying for things every single day.

In order for stablecoins to keep up their stability a system or a way must be applied. By that we mean if there’s no demand for the payment asset then the issuer will repurchase it from the backed collateral provided by the system at a pre-fixed price. The backing with collateral enables one to stay the value stable and repurchase the stablecoin within the same amount of Fiat or other assets that are pegged to.

If there’s no such system or it’s used incorrectly, then the worth is going to be determined by speculations of the whales, which ends up in extreme volatility even within the short term. The system must ensure, that the issuer is ready to repurchase the entire amount of coin issuance at a pre-fixed rate of exchange even within the short term. the speed of issuance by the blockchain and also the system that ensures that the worth is stable requires substantial economic knowledge.

Introducing Corion Foundation, Encourage World-wide Adoption of Stablecoins

Corion Foundation is a Swiss-based foundation founded in 2016. it had been created with the aim of helping the event and expansion of stablecoins and cryptocurrencies within the world. because the industry is developing the Foundation expands its activities supporting digital payments, DeFi, and CBDCs adoption.

The need for blockchain-based stable price payment asset stablecoins has been demonstrated within the section on market information. Most of the payment assets are only functioning as intermediaries on several above exchanges. With their activity, Corion is helping to increase the adoption of programmable crypto assets and stable coin in our way of life with the employment of Corion’s infrastructures. CorionX utility token is functioning as an incentive for the usage of stablecoins and cryptocurrencies.

Corion’s aim is to encourage worldwide adoption of stablecoins, Decentralized Finance, central bank Digital Currencies, and other reliable cryptocurrencies like Bitcoin, Ethereum, etc. generally. to assist the unbanked, youngsters gain access to swift, safe, and cheap banking.

Corion support projects that are performing on such developments and growing their client base, and infrastructure. Corion Foundation aims to form a typical platform for such projects, as their universal adoption is what all people are trying to find. Corion is decided and can do everything possible to create stablecoins and cryptocurrencies available in most e-wallets, hence making them accessible in additional and more regions of the globe. This helps users, to own access to stable pay-per-click, crypto payments, no matter what wallet they use.

The Foundation will finance its ongoing activities from previous donations, new donations, the results of its asset management and income made of its activities in an exceedingly non-profit way. Its audited report is ready under Swiss law.

How can the Foundation Helps the Generalisation of Stablecoins, CBDCs and DeFi

Corion Foundation helps the generalization of stablecoins, CBDCs, and DeFi with the subsequent activities like Launching and supporting the “Stablecoin Movement” and it’s campaign programs “Stablecoins. #MoneyInTheRightDirection”, marketing research and sharing it with the participating stablecoin / cryptocurrency projects, Identifying stablecoin projects, and bringing them together and exploring ways to collaborate.

Also, Publishing supporting articles about stablecoins / cryptocurrencies, Promote and grow the stablecoin ecosystem as an entire, Review on Corion’s blog and social media channels, Interview with industry experts blog or video interview, Users tests, Mutual infrastructure such as e-wallet, swap, merchant gateway, CBDCs rails, DeFi, Dedicated stablecoin booths at online and offline events, roundtable talks, representing the stablecoin community, convincing e-wallet providers to just accept stablecoin, and Obtaining acceptance of stablecoins by large range merchants, payment providers.

Unique Support to Stablecoin Stakeholders, Special Partnership / Membership

Unique Support to Stablecoin Stakeholders, Special Partnership / Membership like Consulting, project rating, scoring-Business model and whitepaper review; Legal, regulatory clarity and company setup; Code review, audits; Fundraising, investment-Intellectual capital, partnerships; Representing on events; Wallet, merchant gateway, swap integration; Merchant acquisition.

It also supports Exchange listing, trading liquidity; Access to stablecoin community, awareness; Communication, collaboration, Promotions, lobbying; and also Reaching out to industry stakeholders such as regulators, investors, traders, rating agents, exchanges and insurance companies to interact them on the stablecoin movement and matchmaking collaborations.

Introducing CorionX Utility Token (CORX)

The CorionX is a utility token and stands for the employment of stablecoins, CBDCs, and OpenFinance cryptocurrencies. It brings different stablecoin and cryptocurrency projects, service providers, and community members together, introducing them to the globe and supports the building of a stablecoin user community.

CorionX creates the framework for education, expansion, and promotion for usage and payment with different stablecoins globally. CorionX leads the Stablecoin Movement to succeed in the paradigm shift and using stable crypto in everyday life. CorionX acts as the “gas” for stablecoins adoption. CorionX is not a stablecoin itself but has many benefits and incentives in the usage and popularization of stablecoins. Learn, Buy, Use, Stake.

Conclussion

It’s quite a good project to follow, Corion is a pioneer in its ability to simplify the day-to-day financial activities of tens or even hundreds of millions of people. The Foundation is working to create an educational infrastructure that makes stablecoins, DeFi, and CBDCs more useful in everyday life.

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