Hello and welcome to this blog post about Paxos Standard PAX White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Paxos Standard PAX white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Paxos Standard (PAX).
I can ensue you that, you will be able to understand every bits and pieces related to Paxos Standard (PAX) after going through the Paxos Standard PAX white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Paxos Standard PAX White Paper
Paxos Standard PAX white paper will be going to provide you, all the information that is needed to get started with Paxos Standard (PAX), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Paxos Standard (PAX).
Abstract: “The concept of money has evolved over thousands of years, and yet there is still room for improvement. The promise of digital assets—global fluidity, frictionless, democratized—has not been fully realized. Despite the proliferation of projects, billions of dollars of resources and years spent in development, even the leading digital asset, Bitcoin, is still plagued by significant issues that limit its utility.
In this paper, we introduce Paxos Standard™ token, a new digital asset that is fully collateralized one-for-one by USD, issued by the Paxos Trust Company and approved and regulated by the New York State Department of Financial Services.
We explain the advantages that Paxos Standard brings to financial markets, allowing participants to transact in a trusted and secure, USD-backed and denominated asset with the benefits of blockchain technology and the oversight of financial regulators.
We believe that Paxos Standard represents a significant advancement in digital assets, leveraging the infrastructure, oversight and stability of the traditional financial system, while operating at the speed of the Internet.”
White Paper Link: Paxos Standard (PAX) White Paper
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