What are the benefits of UPUSD?
In addition to the key transparency features, UPUSD also features these revolutionary attributes:
- Recoverability: Remembering a complex private key may be intimidating for the average bank account holder; UPUSD users can recover their private key and reclaim assets if needed.
- Inheritability: Users will soon be able to nominate beneficiaries who may 'call' the assets after prolonged account dormancy. The exact period of dormancy and the address will be configured during wallet instantiation.
- Full transparency: Every time a user purchases USD on the Uphold platform, they can initiate an exchange and request new minting of UPUSD. The new UPUSD is instantly minted on the Uphold reserve, and a record of this transaction is recorded on the Ethereum blockchain.