It has launched the electronic dollar eUSD jointly with MobileCoin Reserve. The eUSD statements from MobileCoin provide information about the content of the project.
Cryptocurrency and payments firm MobileCoin states that the Electronic Dollar (eUSD) they will issue will be the first stablecoin to protect data.
Launches A New Stablecoin In Partnership With MobileCoin Reserve
MobileCoin, a privacy-focused cryptocurrency and payments firm, has launched a new stablecoin called the electronic dollar (eUSD) together with the stablecoin platform Reserve. The company announced that eUSD is fully collateralized. In addition, the company stated that it was designed with maximum security in mind to protect users’ transaction data.
According to MobileCoin, Eusd is backed by a basket of other stablecoins such as USD Coin (USD), Pax Dollar (USDP), and TrueUSD (TUSD). It is also stated that every transaction is encrypted using end-to-end Zero Knowledge encryption. If we need to explain the Zero Knowledge technology a little bit, this method makes it possible to prove something without revealing sensitive information. In other words, only the trading parties can see their own transaction data.
In the MobileCoin eUSD whitepaper, he said:
“To our knowledge, no project has created a native stablecoin with privacy features that is a first-class citizen in the ecosystem and never normally requires the use of ‘non-private’ transaction technologies to use. In short, no one has yet created a special digital dollar.”
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