New York, Aug. 05, 2019 (GLOBE NEWSWIRE) --
On June 20th, 2019, EXR and a stellar consortium of partners announced their plans to launch EXR, a new stable digital asset, to be governed by a Libra-like association, that aims to bridge the divide between the industries of blockchain and traditional finance, acting as a safe capital preservation asset that will help businesses hedge against looming international trade conflicts.
Explaining EXR
EXR is a digital asset that will act as a reliable store of value, with an open community ecosystem that simplifies transactions between businesses across diverse industries and regions. While it operates on some of the same principles as Bitcoin and Libra, there are some core differences between EXR and them.
Unlike Bitcoin, EXR’s value will not be speculative and will remain stable and pegged to real-world assets.
Contrary to Libra, which is facing intense regulatory scrutiny by authorities worldwide, EXR is positioned to target the B2B market, and is not intended to be a payment or fiat currency replacement. EXR’s raison d'etre is to facilitate a more convenient and transparent world through improved and fully compliant blockchain technology.
EXR Regulatory Compliance
Since its inception less than a year ago, EXR has made inroads into obtaining regulatory approval. EXR’s index for global and regulatory reference will be confirmed at a later stage, once compliance requirements have been finalized and fulfilled. EXR will also maintain the basket currencies on an attestation-ready and transparent platform, to ensure that the EXR in circulation remains compliant with regulations and does not exceed the value of assets held in the reserve accounts.
EXR Structure
The EXR alliance of established technology companies, telecoms players, payment gateways, high-tech manufacturers, NGOs and more will oversee the EXR foundation which is tasked with the final design of EXR and to roll out the solution.
EXR is set up so that any company will be able to accept the digital asset and build wallets collectively that can be used by businesses of all sizes and types, in much the same way as how Bitcoin organically attracted wallet providers and exchanges. However, EXR is a much more open platform where participants will be able to propose and implement rules and tech protocols in an open voting structure.
EXR in Practice
The EXR token can be used by any merchants who are looking to find suitable collateral that can have its ownership proven cryptographically at any time. With emerging digital assets, custody of a non-volatile asset becomes vital in decision-making and strategy. For example, imagine what chaos a game of chess may devolve in if the rules were to change every 2 - 3 turns.
EXR also aims to simplify the relationship between demand and supply of goods and services with a stable means of transaction. Customers and merchants can trade stress-free, secure in the knowledge that EXR‘s value stays consistent with that of major fiat currencies at all times. Finally, within the EXR ecosystem, each participant will be free to issue its own stable asset that will comply with local regulations and integrate with the EXR ecosystem at large.
EXR aims to ultimately enhance economic benefits to both the end-consumer and participating businesses.
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