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2. Which country issued usdt?
USDT is a stable dollar-based token TetherUSD (USDT) introduced by Tether USD Company. USDT is 1USDT= 1 USD, and users can exchange USD for USDT at any time. Tetherg claims that its legal tender deposit account is regularly audited to ensure that every USDT in circulation is supported by corresponding US dollars. The deposit account status is public and can be queried at any time. In addition, all TEDA currency trading records will be published on the public chain.
Users can wire US dollars to the bank account provided by Tether through SWIFT, or convert them into USDT；; Through the exchange; When exchanging dollars, the reverse operation is enough. Users can also exchange bitcoin for USDT on the trading platform.
Tethers have a long and complicated history. Tether's predecessor, Realcoin, was founded in early 20 14. The company is headquartered in Isle of Man and Hong Kong.
20 17, 165438 10, "ParadisePaper" revealed that PhilipPotter and GiancarloDevasini of Bitfinex Company were appointed to set up Tether Holdings Limited in Virginia, England in 20 14. So Bitfinex and Tether are both controlled by parent company iFinex, which means Bitfinex and Tether may have the same boss behind them.
The behavior of the tether company after its establishment is often inconsistent with the words and deeds of the sea city. The main problems are as follows:
First, the risk of opaque accounts. Since the issuance of USDT, Tether has announced that it will anchor the US dollar one-to-one, but the public has always doubted whether it has enough US dollar deposit reserve. Tether has only published audit reports written by law firms rather than professional accounting firms, which proves that its reserves are sufficient.
In essence, its account status is opaque, and it is difficult to determine that it has sufficient reserves through strict third-party audit. And in March, 2065438+2009, Tether official website changed its one-to-one anchor statement with the US dollar to be backed by reserves such as the US dollar and its equivalent currency. At the end of April 20 19, Tether Chief Legal Officer StuartHoegner said in a statement that only 74% of all USDT issued by Tether can be supported by money or equivalent. Taser's capricious behavior is inevitably full of doubts.
Second, the risk of misappropriating customers' funds. From April 2065438 to April 2009, the New York State Attorney General's Office believed that Tether Company allocated 850 million dollars to Bitfinex Company to make up for its losses. Bitfinex claims that it was only an accident when it cooperated with a third-party company.
According to the screenshot of the accusation document on the website of the Attorney General's Office of new york, five important personnel, including the CEO, CFO and chief legal adviser of Tether and Bitfinex, hold the same positions in the two companies, that is, the two companies are essentially run by a management group. In view of the highly overlapping relationship between the executives of the two companies, if there is no evidence to prove it, it is inevitable that there will be suspicion of misappropriation of funds.
Third, the risk of lack of effective supervision. Tether and Bitfinex are registered in the British Virgin Islands and Hong Kong respectively, and are not regulated by the US financial system. The extraterritorial jurisdiction of American law has the effect of "long-arm jurisdiction", that is, as long as an act occurring in a foreign country produces an "effect" within its own territory, whether the actor has his own nationality or domicile, and whether the act conforms to the laws of the place where the actor is located, domestic courts can exercise jurisdiction over the cause of action caused by this effect.
On the one hand, the strict extraterritorial jurisdiction of the United States may lead to a huge fine on the tether and damage the rights and interests of USDT holders; On the other hand, the tether lacks effective supervision, and the rights and interests of stable currency holders cannot be effectively protected. At the same time, it may not comply with the relevant laws of the host country such as anti-terrorism, anti-terrorist financing and foreign exchange control. Jurisdiction is the biggest dispute between the New York State Attorney and Taser.
Third, Nexo is the world's first encrypted digital currency mortgage platform.
Nexo provides the world's most advanced instant encrypted credit line, ranging from $500 to $2 million, which can be used in more than 200 jurisdictions and 45 legal tender and stable currencies. In just seven months, Nexo has attracted more than 65,438+070,000 users and issued tens of millions of dollars of credit lines, helping the encryption community to release its potential wealth without selling assets. All encrypted assets stored in Nexo are protected by encrypted escrow insurance 100%. Nexo is one of the 50 most important companies in the CryptoValley blockchain cluster in Switzerland and Liechtenstein, and cooperates with industry leaders, including BitGo, Bitcoin Base, PrimeTrust, TrueUSD, Onfido and Coinfirm.
Project introduction
Nexo provided the world's first real-time encryption support loan, thus solving the crucial inefficiency problem in the encryption world. So far, digital asset owners have no choice but to sell encrypted assets to enjoy their encrypted wealth. Nexo's innovative model brings the best of both worlds to the encryption community-retaining 100% ownership of digital assets and getting cash immediately. Instant encryption support loan is an automatic, flexible and cost-effective way to obtain liquidity, which is guaranteed by the value of customers' digital assets. The whole process can be completed in just a few clicks. No hidden expenses, no capital gains tax, no credit check. Ensure transparency by using blockchain technology, smart contracts and algorithmic processes executed by NexoOracle.
Nexo is supported by Credissimo, a leading financial technology group that has served millions of people in Europe for more than ten years. Credissimo's operation has always followed the highest regulatory requirements and accepted the strictest supervision by several European banking and financial services regulators.
Nowadays, the growing community of Nexo supporters and the huge demand for instant encryption support loans have pushed the team and its advisory committee to release the value of digital assets from the rapidly expanding token economy, which will change the structure of the $5 trillion market.
Technical core
Cutting-edge technology and process automation are the core of Nexo business model. With more than 65,438+00 years of online loan experience, Nexo is in a favorable position to develop top-level solutions, which expand encrypted loans protected by encrypted assets.
NexoOracle
NexoOracle is an automated system that can maintain all components of business processes. Nexo cards are associated with assets in the user's Nexo wallet. At the time of purchase, NexoOracle will confirm your credit line balance in real time, approve the transaction and send you detailed information in the push notification.
Formulation of loan contract:
When setting up encrypted loans, NexoOracle is responsible for automatic cash payment, asset maintenance, notification and overall management.
Developing real-time data integration:
NexoOracle performs real-time asset evaluation at any point in time based on data from multiple exchanges. NexoOracle collects real-time data from at least six independent resources (exchanges), thus minimizing the overall risk of Nexo and customers. NexoOracle can also detect real-time changes in asset values and recalculate loan limits. In the case of asset appreciation, the loan amount will be automatically increased immediately.
Develop reimbursement analysis module;
NexoOracle automatically records the repayment and further bills of all transactions of customers. The system will automatically maintain interest repayment, outstanding balance and the latest loan amount at any time.
Develop automatic notification function;
All loan maintenance actions are automatically performed by NexoOracle without any manual intervention-changes in asset value and loan amount; Cash inflow/outflow; When the minimum encryption asset limit is reached, a maintenance and rebalancing warning is issued; Personal account balance will be updated after repayment is calculated; All relevant information will be included in the management notice and sent to the customer.
Modeling and algorithm development:
In order to ensure the normal operation of the system, Nexo integrates big data analysis, self-adjusting algorithm and predictive modeling in NexoOracle. In this way, Nexo can ensure that information received from multiple external data sources is used for timely business decisions.
Products and services
Instant encryption support loan
Customers have different financial needs and requirements, and Nexo instant encryption loan well understands and realizes these needs. One way to receive an instant encrypted loan from a customer is to transfer the same day/next day bank to an individual or company bank account through SWIFT, SEPA or ACH.
Nexo credit card
The Nexo card is the MasterCard of the blockchain system, which requires that it must come from the user's Nexo application to handle the US dollar. It is completely free, without any fees or commissions, and it is compatible with the user's wallet, although it is not automatically recharged, and no commission will be charged when making transactions.
NexoWallet
In 2020, it is conceived to prepare Asian institutions, set up Seoul Service Center, release Nexo applications from South Korea, China, Brunei, Singapore and Malaysia, start alliance plans and tell friends plans, participate in NexoOracle algorithm and COMP mining, and promote digital currency mortgage loans and blockchain MasterCard to the whole world.