Here we are with our last entry for 2020 here, and it’s true that nearly every business seems to use their last blog of the year to do a ‘year in review’ themed or something similar entry. Normally we’d be similarly inclined but this year hasn’t been the best for anyone unless you’re a coronavirus. Then it’s been an unprecedented success. All joking aside, we are like all of you in hoping that 2021 sees all of this come to and end. One subject that has sort of returned to the front burner these days is cryptocurrencies, and it’s gone along with increasing numbers of people thinking that the ‘new’ world will see something of a move away from fiat currencies. Not a fundamental shift, but a greater share of the currency with which goods and services are bought and paid for. Bitcoin has become a household name with this subject, but now there’s a new type of cryptocurrency on the scene – Stablecoin. Now here at 4GoodHosting we’ll go ahead and assume that we’re like every other good Canadian web hosting provider in that there’s not a single bitcoin mining operation anywhere in the office here. But that’s not to say we don’t take an interest in this, and can see the value in a currency that’s not constantly at the mercy of international finance string-pullers and the IMF. So instead of giving a warm glance back on 2020 when likely no one feels very warm about the year that’s past, let’s spend use this post to have a longer look at Stablecoin. What Exactly IS a Stablecoin? Stablecoins are cryptocurrencies that better minimize price volatility in comparison to a specific ‘stable’ asset or basket of assets. Unlike the more well-known Bitcoin, a Stablecoin is one that is representative in value for a real-world asset. That could be fiat money or exchange-traded commodities like gold. This gives them steadier and more ‘stable’ value against a target price, making them appealing for investors as well as providing the stability that is making many merchants about operating in the crypto space as it exists right now. Their greater value in being...
