The value of one LibreCash token will have a target rate equal to 1 USD. Plans are in the works to transition LC to a stable value equivalent to a transnational market basket.
LibreCash can be exchanged for fiat or other cryptocurrencies almost instantly via partner exchanges.
Quick payments, international money transfers, lending, and hedging against investment risk are just some of the ways LibreCash can be used.
LibreBank has decentralized management, and LibreCash is emitted by a decentralized issuance mechanism. This means that internal manipulations are almost impossible - the rules, encoded as a smart-contract, must be followed.
The user accesses the LibreBank dApp and enters their wallet address, purchasing LibreCash tokens in exchange for $1 in Ethereum each, plus a nominal service charge.
When the token is emitted by the LibreCash smart-contract, the reserve fund will be made responsible for that $1.
Regardless of the blockchain network used to emit the LibreCash, the LibreBank DAO and its smart-contracts will lock in the value of the token.
Every good investor has a strategy for hedging risk. Until now, it has been necessary for cryptotraders to hedge their trading risk by investing in fiat currencies or in commodities, much like traditional traders.
By purchasing LibreCash, cryptotraders are able to stay completely within the cryptoeconomy, holding a digital asset that can be easily converted to any cryptocurrency or fiat.
With LibreCash, you will be able to make loans to other individuals or businesses using a digital asset that can easily be exchanged for cryptocurrencies like Bitcoin or Ethereum, or for any fiat currency. LibreCash’s value is non-volatile, so the lender will always get the full value of his money back.
A lending platform could be created that allows for the issuance of LibreCash loans all over the world. A smart contract system would ensure the security of the transaction, a favorable interest rate for the lender, and predictability and a stable value for the borrower.
Given the token’s stable value, security, and versatility, LibreCash is likely to be accepted by merchants everywhere. With LibreCash, a new service economy based on micropayments becomes possible.
Users will be able to quickly and easily send a payment, without having to deal with the needless procedures imposed by centralized payment systems like VISA, PayPal, and Mastercard.
Hidden fees will become a thing of the past. Making payments across borders will be cheap and easy. Say goodbye to having to pay extra to get an online service or good from someone on the other side of the planet.
LibreCash exists outside of the constraints of technology and borders. LibreCash will be emitted by multiple blockchain networks. This means that you can instantly exchange value from one network to the other, you just have to trade LibreCash.
If you need to transfer money to another country, LibreCash makes things simpler than ever before. Just purchase LibreCash with your country’s currency, then sell it for the desired currency. The whole process can be carried out in a very short amount of time.