Nota token, what is it? NOTA is fully transparent – at each operational level, here is all the information.
NOTA is 100% backed by fully reserved assets, constantly proofed and audited monthly. It is always redeemable for the US dollar on a 1:1 basis.
A digital token backed by fiat currency provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar accounting unit.
The innovation of blockchains is an auditable and cryptographically secured global ledger.
Asset-backed token issuers and other market participants can take advantage of blockchain technology, along with embedded consensus systems, to transact in familiar, less volatile currencies and assets.
In order to maintain accountability and to ensure stability in exchange price, we propose a method to maintain a one-to-one reserve ratio between a cryptocurrency token, called USNOTA, and its associated realworld asset, fiat currency.
This method uses the XinFin Network (XDC) blockchain, Proof of Reserves, and other audit methods to prove that issued tokensare fully backed and reserved at all times.
NOTA, a stablecoin
Technology Stack and Process
Each NOTA issued in circulation will be matched on a one-to-one basis with the equivalent amount of corresponding fiat currency held in reserve by NOTA.
As custodian of the backed asset, we act as a trusted third party responsible for that asset.
This risk is mitigated by a simple implementation that collectively reduces the complexity of performing both fiat currency and crypto currency audits while increasing the security, provability and transparency of those audits.
NOTA is today’s most technologically advanced stablecoin and a symbol of digital money in the future. Open source & public smart-contract-smart XRC-20 token.
There are many types of individual cryptocurrency users in the world today. From traders looking to earn profits daily; to long term investors looking to store their Bitcoins securely; to tech-savvy shoppers looking to avoid credit card fees or maintain their privacy; to philosophical users looking to change the world; to those looking to remit payments globally more effectively; to those in third world countries looking for access to financial services for the first time; to developers looking to create new technologies; to all those who have found many uses for cryptocurrency. For each of these individuals, we believe NOTA are useful in similar ways,like:
- Transact in US$ or fiat value, pseudo-anonymously, without any middlemen or intermediaries
- Cold store US$ or fiat value by securing one’s own private keys
- Avoid the risk of storing fiat on exchanges move crypto-fiat in and out of exchanges easily
- Avoid having to open a fiat bank account to store fiat value
- Easily enhance applications that work with other cryptocurrencies to also support NOTA
Anything one can do with other cryptocurrencies as an individual one can also do with NOTA.
Merchants want to focus on their business, not on payments. The lack of global, inexpensive, ubiquitous payment solutions continues to plague merchants around the world both large and small. Merchants deserve more. Here are some of the ways NOTA can help them:
Price goods in US$ or fiat value rather than Bitcoin (no moving conversion rates or purchase windows)
- Avoid conversion from Bitcoin to US$ or fiat and associated fees and processes
- Prevent charge backs, reduce fees, and gain greater privacy
- Provide novel services because of crypto-fiats feature such as Microtipping, gift cards, more
Anything one can do with other cryptocurrencies as a merchant one can also do with NOTA.