Anyway, about NuBits. Unlike most cryptos, we actually are trying to become a day to day transactional currency, rather than just a volatile asset that people trade on exchanges for profit. The price stability is what can make this possible in the future. Nu can peg to any real world currency and plans are already underway to create pegs to the Euro, Yuan and SDR, all under the same blockchain.
Much of our time is currently spent improving our liquidity operations and building a model and rules for peg support. This will all be important as we expand.
We’re also working on ways to increase demand with B&C Exchange. BCE is a decentralized exchange we’re building which allows people to trade real cryptos like Bitcoin, rather than artificial proxy assets. NuBits will be able to thrive in an environment like this as it will be the only price stable coin that people can trade in and out of. We’re hoping that BCE will provide a springboard for NuBits and allow a larger amount of people to use it, leading people to gain more trust in our peg system.
Ultimately, we’d love to become the first choice for crypto users when it comes to day to day transactions and online shopping. It will take us a while to get there, but we’re constantly making progress toward that goal, so I’m hopeful. Merchants such as yourself certainly help while use of NuBits still remains low. Right now we’re still young though and a fear of peg failure may be a contributing factor to lower adoption levels. As time goes on with no peg failure, people will gain more trust in NuBits, leading to more adoption and use.
