EURST Stablecoin – Reinvention of the European economy

Over the years, we have been introduced to a digital transformation, which has created and shaped communities around the world. Digital technologies have ushered in new evolving ways of how the world interacts, operates and, above all, conducts exchanges. In the current economic hardship and the global pandemic of Covid-19, the European Union has had to face many operational and structural facts, one of which has been the strength of the fiat currency; the euro.

The European economy operates through an imperfect system

Since the introduction of the euro, the currency has been the subject of a consistent debate, regarding its strength and resilience within global exchange.

This specific criticism is defined by a strategic error, which shows a dominant flaw; in particular, the euro does not have a strong united economy backed by activity. The blame has been well argued for the fact that the creation of the euro was intended to mimic the steadfast position and ability of the US dollar, but the European Union is still economically divided among its members.

Although views may vary, the strength of the organizational base of the US economy and the consistency of the USD currency cannot be argued which represents a “ robust ” position even with the turbulence of changes that the year 2020 has presented.

“This is why the US economy was better prepared for the Covid-19 pandemic. The European economy operates through a different … perhaps, one could say, an imperfect economic system, and therefore becomes more vulnerable to changing regulations and stabilizing operations in these periods’ – Simone Mazzuca

With this in mind, the economic hardship for individuals and businesses within the EU could be reduced by the creation of regulations that embrace current and future digital technology possibilities.

‘The base of Europe has a strategic position through exchange and global power, however, in its current position with the addition of BREXIT, Europe is in an even more vulnerable position’ – Simone Mazzuca

From now on, the development of stablecoins comes at the right time, especially when international financial policies seem to be polarized by various financial variables and the inflationary nature of Fiat.

This is why Mazzuca has created EURST, a stablecoin backed by USD assets and verified in real time. Wallex Trust’s newly developed digital currency represents € 1 in USD, backed by the accounts of the Federal Reserve and Wallex Trust itself.

EURST offers opportunities for a better economy

Issued as a token on the Ethereum network according to established ERC20 standards, the advanced capabilities of blockchain technology allow users to conduct faster and more secure transactions. This is enabled through the use of smart contracts, which digitize deposited funds that are held in a separate account by the issuer. In this way, allowing users to transact money without the high costs and long delays of the current financial system.

“The EURST can be used as a logistical background for the representation of the euro” – Simone Mazzuca

Furthermore, blockchain technology allows EURST to be completely transparent and verified in real time as transactions are recorded in the digital ledger, as well as having regular third party audits.

This features the ability not only to bring transparency and security, but also allows users to hold their funds within a trusted custodian, Wallex Custody. Through the use of opening an account within Wallex Custody, users can benefit from additional security and privacy while maintaining the smoothness of depositing, transferring or withdrawing personal funds convertible into any currency of choice in a quick and hassle-free matter. borders.

In conclusion, EURST presents itself with opportunities and possibilities for a better economy and, we highlight some dominant characteristics:

1. Protection of wealth from loss of value against the euro can use stablecoin to save money without opening a bank account in Europe
2. Users who wish to deposit funds in cryptocurrency exchanges for trading can use EURST instead of Fiat.
3. Supervisory workers can use EURST to get around the costly relocation fee charge when making legal remittances to their family at home.

Following the above advantages, EURST truly represents the possibility and opportunity to bring a sort of “chameleonic” option for transactions with the Euro currency. The transparency and security of the stablecoin, EURST, is that it brings and provides support for individuals and companies to operate successfully and this, within an economy that has yet to reassure us all.

Link to EURST: https://eurst.io/

Wallex Trust Link: https://wallextrust.com/

Wallex Custody link: https://www.wallexcustody.com/

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