Hope to you find you well in this time of uncertainty my fellow Canadians. If you are home and stress please reach out to someone or just shoot me an email. We are all in this together.
Alright on to the business of the day, I want to inform you of something that may have went under your radar giving our present global situation then again you have heard of Bitcoin, cryptocurrencies, blockchain, tokens, stablecoins or did I lost you?
Well my fellow Canadian these words will become more familiar to you very soon because on February 11 2020 QCAD was launched.
What is QCAD?
QCAD is Canada’s stablecoin/digital asset that has the stability of the Canadian Dollar.
So 1 QCAD = $1 CAD. The project is a joint venture of Canada Stablecorp Inc., 3iQ Canada’s Largest crypto asset manager and Mavennet Systems a leader in blockchain development to help with mass adoption to cryptocurrencies, global exchange stablecoin to stablecoin, faster cheaper settlements and payments.
How is it possible for QCAD a stablecoin/ digital asset to maintain it stability to the fiat Canadian currency?
Well a balance of fiat currency equivalent to the amount of QCAD in circulation is maintained the balance is published monthly and attested by a third party.
Is the first Canadian Dollar Stablecoin equivalent to one Canadian dollar and Stablecorp Inc. first product. QCAD is
- Built on the ethereum blockchain by using ERC-20 Standards meaning enable faster settlement and traceability
- Facilitate trade both locally and globally
- Low transaction fee
- Link Canada financial market to the world of digital assets.
- Compatible with the majority of global cryptocurrency wallet
How can you use QCAD?
You pay a fee call (gas) between 1- 10 cent to use the public ethereum blockchain network but no Fee (gas) is paid to send or receive fund
How can you get QCAD?
QCAD can be purchase on exchanges such as DVeX, Netcoins, Bitvo, Newton and Coin smart. They are call “Authorized dealers” – They have to pass a stringent client onboarding and AML/KYC check and have the right to buy and sell large quantity of QCAD
-On the buy sell and trade on capital market
– Business to business (food, automotive, oil & gas)
QCAD is supported by cryptocurrency custodians Balance and Bitgo and payment & settlement integration is available through Bidali and Gilded Finance.