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ACC is On Its Way to Becoming Standard Currency for Global Digital Asset Management

A new innovation is emerging in the blockchain space, and its goal is to bring tangible assets to the digital currency space. Right now, the valuation of digital currencies is spurious at best and dangerous at worst. Everything is speculation and as such, the prices are extremely volatile, with little sign of this changing any time soon.

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For many of the doubters of Bitcoin, their prime criticism is the lack of real-world value to the coins. Everything is based on supply and demand, with little else to justify the massive price increases besides an increasing number of people believing they can make tons of money on it.

What if We Could Connect Real-World Assets

So to alleviate these worries, maybe the best thing to do is to find a way to monetize the assets already present in the real world, and then market them online. ACC, or Asset Collection Coin, is the first coin to be backed by tangible asset ownership. By having ties to the real world, ACC is able to connect cryptocurrencies with a more stable value.

This connection is done by releasing A-SDR, which is a basket of goods fund that consists of Ethereum, Bitcoin, and ACC. The value of ACC is evaluated by A-SDR, which releases liquidity at the same time as ACC. This means that after anchoring with ACC, the two major cryptocurrencies, BTC and ETH, will become a reserve digital currency of sorts.

Recently, specialists have said, “The three digital currencies, ACC, BTC, and ETH, altogether constitute A-SDR digital currency basket. The exchange relationship between them is adjusted every 180 days, offering a measurement of value to settle global digital currencies.” This is a solid roadmap that indicates exactly where they would like ACC to go in the next few years.

What does it mean to be a settlement currency?

The term “settlement currency” is thrown around a lot without people actually taking the time to understand what it entails in an economic sense. SDR, or special drawing rights, is a concept developed by the IMF that was intended to move the world away from being dollar-based to having more of a worldwide currency.

A-SDR was conceived to be direct competitor to this idea. It is expected to transcend the current SDR manifestations by combining digital currencies with tangible assets. The hope is that it will present an alternative to the dollar due to its improved stability and fungibility. USD can’t be spent everywhere and cross-border payments are hardly easy right now.

These are many of the reasons Bitcoin has gained so much popularity, but Bitcoin can’t be everything to everyone and that has left a hole open for ACC to jump in. Right now, what is clear is that ACChain’s “3+2” ecosystem is going to help it advance past the previous efforts in this space.

The “3+2” ecosystem handles the issuance of digital assets, the circulation of digital assets, and the settlement of digital assets. All of this is necessary for the monetization of physical assets, and will help to tie the cryptocurrencies together with ACC.

Where the industry is going

The end plan is to have ACC be the settlement currency and Bitcoin/Ethereum be the units of barter. As a reult, there will be an increase in the amount of ACC being demanded, which swill increase the price of it as well.

In the “3+2” ecosystem, the “+2” aspect refers to the ACChain community and the ACChain specialized application/function platform. From examining how Bitcoin has developed, it has been clear that for something to succeed, it needs both of these aspects.

A-SDR and ACC are intertwined ideas that will likely change the way we trade assets. If they are able to achieve their goal and become a worldwide digital settlement currency, there will be a massive increase in their value. Investing in them makes sense for anyone who has questioned the intangibility of Bitcoin but believes in the power of a digital currency.

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Top 6 Altcoins Gaining on Bitcoin – 2018 Week 40 Edition

This past week has been relatively interesting for a lot of different cryptocurrencies. Although the gains over Bitcoin are quite high for a lot of projects, it remains to be seen how long they will remain in place. The following six coins noted the biggest gains over Bitcoin this past week and are ranked in ascending order. Statistics are provided by OnChainFX. #6 Cardano There are a lot of people who focus their attention on Cardano as of late. This particular cryptocurrency has not had the best of years, although the same applies to all other cryptocurrencies throughout 2018. Over the past week, Cardano gained 15.43% over Bitcoin. Holding on to this gain will be challenging, as all markets are on the verge of going down in price. #5 ZCash Although there hasn’t been too much buzz regarding ZCash as of late, the currency is still trucking along nicely. More specifically, the upcoming Sapling upgrade will introduce some big upgrades. Until then, ZCash is gaining on Bitcoin at a steady pace, resulting in a 15.79% increase in ZEC/BTC over the past seven days. #4 GXChain The GXChain project will not ring a bell for most people. It is a cryptocurrency venture designed to become a blockchain-based decentralized data exchange to bridge between data sources across different platforms. Over the past seven days, GXChain has gained 17.84% over Bitcoin. A very impressive trend, although it remains to be seen if it can remain in place. #3 GameCredits Another cryptocurrency project most people tend to forget exists goes by the name of GameCredits. It allows gamers around the world to benefit from one unified form of money in the GAME cryptocurrency. This past week has resulted in a 19.9% gain over Bitcoin for GameCredits, indicating there is some buzz regarding this project behind the scenes. #2 Monacoin For a cryptocurrency which is mainly popular in Japan, Monacoin is noting some impressive gains over Bitcoin in the past week. Monacoin aims to become the first Japanese cryptocurrency, and it seems this project has increased in popularity over the past few days. A strong increase in the MONA/BTC ratio resulted in a 20.41% gain for the altcoin. Very impressive, albeit not sufficient to claim the top spot on this list. #1 XRP Despite the cryptocurrency community’s rather hostile attitude towards Ripple and their XRP asset, no one can deny this past week was all about XRP. It noted a near 110% increase in USD value at its peak, and currently maintains a 51% increase in BTC value. Although a portion of these gains will be removed from the equation soon, it was a very impressive week for this digital asset regardless. The post Top 6 Altcoins Gaining on Bitcoin – 2018 Week 40 Edition appeared first on NullTX.

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