Andy Schectman US Dollar
Andy Schectman is an American entrepreneur, investor and cryptocurrency enthusiast. He has been involved in the digital currency space since 2011 when he founded Coinabul, a gold-based exchange for buying and selling physical and electronic forms of gold. More recently, Andy Schectman has become known for his advocacy of stablecoins backed by U.S. dollars (USD). The idea behind these coins is to provide a more reliable store of value than traditional cryptocurrencies like Bitcoin or Ethereum which can be volatile due to their speculative nature. In 2018, Andy launched USDX – the first dollar-backed stablecoin on the Stellar network with support from IBM’s blockchain technology platform Hyperledger Fabric.
Stablecoins are unique because they don’t experience extreme price fluctuations like other types of cryptocurrencies as they are pegged against specific assets such as commodities or fiat currencies like US dollars or euros that have much less volatility in terms of pricing over time compared to regular cryptoassets such as Bitcoin or Etherium. This makes them attractive investments for those looking to avoid risk while still keeping some sort of exposure to cryptocurrency markets without having all their eggs in one basket so to speak; it also allows users access into new markets where previously only fiat currencies were accepted before now allowing them access into areas not accessible with just your typical run-of-the mill cryptos alone thus broadening investment horizons significantly across both financial worlds if you will! Furthermore unlike many other altcoins out there today USDX does not rely on any government backing nor does it require prior approval from said governments making this form far easier & faster way of transacting money worldwide plus given its close ties/partnerships w/IBM’s Hyperledger Fabric platform means top notch security comes along w/it too helping protect user funds at all times giving peace mind knowing everything’s safe & secure 24×7!
