This is an important aspect of the crypto world. We need a coin the is pegged to a dollar in order to make trading more efficient for users. I guess we could bypass that if people could just sell their coins for a dollar on the fly but for now we really need a coin that represents a dollar. For now Tether is doing the job but there has been concerns that the coin might not actually be backed by the money is said it is. If that is the case we would not only see a drop in tether but a large drop in the crypto market in general.
Not to worry we have a coin from Circle coming. It will be pegged to the US dollar and has already raised 110 million dollars to get the job done. I am glad to see a big company like Circle get involved in this and being a public company it will be easy to check they are backing the coin dollar for dollar with fiat cash.
I think this can go a long way to bring trust to the market and am looking forward to seeing it happen.
Here is the link for more info:
http://www.malaysiandigest.com/business/737877-circle-raises-110-million-plans-to-create-dollar-pegged-cryptocurrency.html
