Finance
Centralized vs Decentralized Stablecoins: How they’re different

Stablecoins are an essential part of the crypto world. It protects the traders and investors from market swings. Stablecoins have a pegged value like the U.S Dollar or any other currency. This helps in reducing volatility and works as digital money, which can easily be transferred from one exchange to another.
There are mainly two types of stablecoins available out there – Centralized stablecoins and decentralized stablecoins. Each of them has its own selling points. Hence to help you understand better, let me explain about centralized vs decentralized stablecoins.
So here we go:
What is a stablecoin?
A stablecoin is a digital asset that has a fixed price, mostly $1. This helps in removing holders from the swings of the market and offers secure and stable digital money to hold.
As per the definition by Themoneymongers.com “Stablecoins act as a midpoint between holding assets and withdrawing to the fiat currency. Also, they are effectively used for executing cross border payments.”
As their prices are pegged to a reserved asset like the US dollar, they help in reducing volatility compared to crypto coins like Bitcoin.
Centralized vs Decentralized Stablecoins
Now that you know what stablecoins are, it’s time to talk about centralized and decentralized stablecoins.
So here we go:
What is Centralized Stablecoins?
Centralized stablecoins are usually fiat collateralized off-chain. These stablecoins are usually connected with a third party custodian like a bank.
In centralized stablecoins, stability is achieved via 1:1 backing of tokens liabilities with the corresponding asset.
Some of the top examples of centralized stablecoins is Tether (USDT) and Coinbase (USDC). Apart from these, some of the new additions to the centralized stablecoins are TUSD, PAX, BUSD and GUSD.
These cryptocurrencies are essentially tokenized IOUs deployed onto a blockchain like Ethereum. Centralized stablecoins balance the supply and demand via minting and redemption mechanisms.
Under this model, users can mint stablecoins by depositing the equivalent fiat to the custodian, redeeming or burning the tokenized versions to retrieve fiat back.
Top 3 Centralized Stablecoins
Tether (USDT)
Tether is one of the most popular stablecoins available out there. It was launched back in 2014 as RealCoin. Also, the purpose of the coin was always to be worth one US dollar. The supply of the coin is limited by claimed dollar reserves.
It is also the largest stablecoin, and that’s why there was always a pressure on Tether to compile regular reports about its reserve. So it can prove that its value is always going to be the same as the US dollar.
However, the most recent report shows that just about ten percent is held in cash or deposit. Also, half of the USDT’s reserves consisted of ‘commercial paper’. Also, short term debt is issued by companies to raise funds.
TrueUSD (TUSD)
TrueUSD or TUSD is another popular coin that had a limited launch back in 2018. The stablecoin claims to conduct regular audits, and it is the first stablecoin which is fully backed by the USD dollar.
The audit of the stablecoin indicates that the supply is limited by the dollars they hold. Also, the daily churn/trade is relatively low.
Also, TUSD allows for DeFi and staking to earn returns from holdings. Plus, the stablecoin is partnering up with a bank for digital payments, and incubating ‘digital asset to DeFi’ projects.
Gemini USD (GUSD)
The Gemini Dollar (GUSD) is another popular stablecoin. This one is pegged to and backed by US dollars held in FDIC-insured bank accounts.
The funds of the stablecoins held in reserves are audited from time to time by the accounting firm, BPM LLP. The cryptocurrency was created by the popular crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss in 2014.
Also, the coin has received approval from the New York Department of Financial Services (NYDFS), and it was launched back in 2018.
What is Dcentralized Stablecoins?
Decentralized stablecoins are fully transparent and non custodial. No one can control decentralized stablecoins. Also, all collateral backing is visible to all as funds are on a publicly verified blockchain.
This allows the stablecoin to be trustless and secure with a single entity controlling the funds. Also, decentralized stablecoins can be divided into two parts- crypto-collateralized and algorithmic.
The centralized stablecoins are capable of increasing or decreasing their supply manually by minting or burning when needed. On the other hand, the algorithmic stablecoins utilize smart contracts or algorithmic markets operations controllers (AMOs), to automatically control the supply.
Top 3 Decentrlized Stablecoins
DAI Token
According to the MakersDAO’s white paper, Dai is generated, backed and kept stable by the use of Ethereum based currency deposited into MakerDAO’s vaults.
The deposited funds work as collateral whenever a user wants to withdraw their DAI currency. Also, because the cryptocurrencies are worth more than the U.S. dollar, MakerDAO can keep its stable coin pegged loosely to the U.S. dollar at a 1-to-1 ratio.
The theory of this was so good that in September 2018, a venture capital firm Andreesen Horowitz invested $15 million in MakerDAO.
EOSDT
EOSDT is a well-known cryptocurrency that operates on the EOS platform. The cryptocurrency has a currency supply of 2,642,505.29330823. It also refers to itself as a dollar pegged currency that leverages underlying EOS and BTC collateral and adds extra liquidity to the market.
Moreover, the coin is highly stable as the stability mechanisms are embedded in smart contracts to maintain a 1:1 parity with USD. Also, the coin is insured by the Equilibrium Stability Fund of 584,408.67 EOS ($ 1,332,451.76).
Defi Dollar (DUSD)
DeFi dollar is built as a stablecoin. The coin uses the primitives of DeFi to stay close to the Dollar. The coin gives the investors an opportunity to index varying stablecoins in its single token. Also, it protects users from any underlying risks.
Moreover, DUSD is collateralized by the Curve Finance liquidity provider (LP) tokens while also using Chainlink oracles to stabilize itself. Along with that, Curve is used for integrating the lending protocols and swapping tokens. This is another key step that stabilizes the token.
Furthermore, to offer you maximum safety, the token also offers you a staking mechanism. This adds an additional layer of protection to the token.
What can you do with stablecoins?
Minimize volatility:
As the value of cryptocurrencies like Bitcoin or Ethereum fluctuates a lot. There is no guarantee how the price of the coin will move. However, on the other hand, stablecoins are pegged to a more stable currency like the U.S. Dollar. This gives buyers and sellers certainty that the value of their holdings will not decrease unpredictably.
Trade or save assets:
There is absolutely no need to have a bank account to hold stablecoins. Also, they are pretty easy to transfer.
The value of stablecoins can be sent easily around the globe, including to places where the U.S. dollar may be hard to obtain or where the local currency is unstable.
Earn interest:
Most stablecoins offer you a staking mechanism. This allows you to earn interest easily. Plus, the interest rate is higher than what banks would offer. As a result, stablecoins are considered a good investment instrument.
Transfer money cheaply:
Transferring stablecoins is pretty cheap. As a result, people have already transferred millions of dollars worth of USDC and other coins with low transfer fees.
Send internationally:
Stablecoins has a fast processing time and low transaction fees compared to sending traditional money. As a result, they are a good choice when it comes to sending money anywhere in the world.
Final Words:
So that was all for what are stablecoins, why should you use them and the Centralized vs Decentralized Stablecoins difference. I hope this has answered all your doubts about stablecoins. In case there is anything else you wish to ask, drop a comment below.
Finance
Factors to Consider When Choosing Funeral Chairs for Memorial Services

The loss of a loved one is devastating for the entire family. For churches providing funeral and memorial services, it’s important to ensure grieving family members are as comfortable as possible throughout the service. The right funeral chairs can help you achieve this goal. To find the right chairs, there are several factors that you must consider.
Comfortable Seating: Enhancing the Memorial Experience for Attendees
Comfort is of the utmost importance when choosing chairs for funerals and memorials. Grieving attendees are already facing hardship. Providing a comfortable place to sit during the service will provide them with some comfort during this difficult time. Comfortable seating will also enhance the memorial experience because attendees can stay fully focused on the service.
Look for chairs with foam seating and comfortable fabrics. Chairs that offer full back support will allow attendees to rest or reflect without being distracted by discomfort.
Dignified Seating: Reflecting the Importance of the Occasion
For first memorial funeral services, it’s important to choose seating that is dignified and respectful of the occasion. Choose plain, solid fabrics. Patterned fabrics can be distracting or distasteful in some cases.
Acceptable colors for funeral chairs include (but are not limited to)
- Gray or charcoal;
- Black;
- Dark plum;
- Beige or brown;
- Dark red;
Choose your color and style wisely to ensure you’re providing dignified seating for attendees.
One advantage of choosing these colors is that it allows you to use these chairs for a variety of purposes. Rather than having to invest in a new set of seating for services and events, you can use the same seating for all occasions.
Improved Concentration: The Impact of Comfortable Seating on Focus
Those who attend funerals and memorial services should remain focused on the service and nothing else. Providing attendees with comfortable funeral chairs will allow them to stay focused on the service. During the funeral and memorial services, family members often share stories and thoughts about their lost loved one. A formal service may also be given.
Often, services last between 30 minutes and one hour – sometimes more. Because attendees will be asked to sit for long periods of time, it is crucial to ensure they have a comfortable place to sit.
When chairs are poorly constructed or have uncomfortable seats, attendees will be more concerned about their discomfort than listening to the service. They may become distracted or find themselves fidgeting and distracting others in the process.
However, when you invest in comfortable seating, attendees can sit quietly, reflecting on the words being spoken during the service.
Health Benefits: The Positive Impact of Comfortable Seating on Physical Health
One thing that is often overlooked when selecting funeral seating is its impact on physical health. Pain and discomfort are two common complaints when funeral attendees sit in pews.
If you have the option to offer individual seating, attendees will be much more comfortable. Cushioned seats will also ensure that guests with mobility issues can be present during the service without feeling uncomfortable.
Comfortable seating is an essential part of a memorial service; it not only provides guests with places to sit but also helps create a warm and inviting atmosphere where people can come together to honor the memory of their loved one.
When seats are uncomfortable or poorly made, guests may experience pain or other forms of discomfort that will make it difficult to be present during the service. Seats with foam padding can provide much-needed support and cushioning, allowing guests to sit comfortably even for long periods of time.
Chairs with solid, durable metal frames will also ensure that your seating stands up to frequent use. Providing safe seating is essential, and quality, durable chairs will help you achieve that.
Customizable Seating: Personalizing the Experience for Attendees
Another important factor to consider when choosing funeral seating is customization. Providing a personalized experience for attendees will allow them to experience the service in the way they envision.
Individual chairs will allow the family to choose the layout for the seating. Some chairs interlock to form pews, and some families may prefer this more traditional option.
Traditionally, the family of the deceased sits in the first row or first few rows. If the family wishes to maintain this convention, chairs of different colors can be provided, or additional space can be placed between these rows and the remainder of the seating.
When chairs are provided instead of traditional pews, there are more opportunities for customized layouts and seating for attendees. Being able to provide this level of customization may bring a small amount of comfort and peace to the family.
In Conclusion
When providing funeral and memorial services, churches and sanctuaries should not overlook the importance of providing comfortable seating for attendees. The right chairs will ensure attendees are comfortable during the service, allowing them to stay more focused on the message and less focused on discomfort or pain.
What is your experience with choosing and providing funeral chairs? Share your thoughts and comments.
Finance
Credit Suisse Collapse – this is a robbery of Arab investors

Riding an oil-price boom last year, Saudi Crown Prince Mohammed bin Salman directed government-backed Saudi National Bank to make a $1.5 billion investment in Credit Suisse. Now, the Saudi investment is almost wiped out after Credit Suisse’s emergency merger with UBS Group AG, ‘The Wall Street Journal’ claims.
Credit Suisse’s meltdown also erased billions of dollars in investments made by Qatar’s sovereign fund and the Saudi-based Olayan family, making the Persian Gulf one of the biggest losers from a slide in financial stocks since the collapse of two U.S. banks last week.
The Saudis struck the deal when oil prices were just below $100 a barrel, as Russia’s invasion of Ukraine juiced energy markets.
The steep losses are a reminder of how Gulf states were burned investing in Western banks and hedge funds during the financial crisis in 2007 and 2008. The value of foreign assets in portfolios of the Gulf Cooperation Council states in 2008 fell by $100 billion to a total of $1.2 trillion, not counting the vast personal holdings of their ruling families, the New York-based Council on Foreign Relations reported in 2009.
Michael Klein, a former Citigroup Inc. banker who has long worked with Middle East clients, connected the $600 billion PIF with Credit Suisse last fall, some of the people said. The troubled bank needed billions of dollars to fund a turnaround plan that would move it away from investment banking toward wealth management. Mr. Klein was working on the overhaul as a Credit Suisse board member.
PIF connected Credit Suisse and Saudi National Bank, the kingdom’s largest bank with close ties to the government, some of the people said. Prince Mohammed gave the green light for the Saudi bank to make the Credit Suisse investment, some of the people said.
The investment made Saudi National Bank the biggest shareholder in Credit Suisse, with just less than 10% ownership.
“The Saudi market [is] the 700-pound gorilla economically in the region, and just getting them to engage with us in Saudi Arabia would be more than good enough,” Mr. Khudairy said of Credit Suisse.
The Gulf region has deep ties to Credit Suisse. Tiny natural gas-rich Qatar began snapping up shares of Credit Suisse as markets wobbled in 2008, and led a group of private investors who pumped billions of dollars into the company in the weeks after the collapse of Lehman Brothers, ultimately building up a stake worth more than $3 billion.
Qatar and the Olayan family together plowed another $6.2 billion into the company in 2011 through a special type of debt. In 2013, Qatar converted over $4.5 billion of that debt into bonds called Additional Tier 1 capital notes — which are poised to be wiped out as part of Credit Suisse’s deal with UBS.
Investor confidence in Credit Suisse began wobbling last week after the collapse of Silicon Valley Bank in the U.S. On Wednesday morning, Mr. Khudairy told Bloomberg TV his bank would “absolutely not” be willing to assist if Credit Suisse needed more capital.
According to the people familiar with the matter, Saudi National Bank officials felt out of the loop, finding out about the talks with UBS via the news media.
A group led by Saudi National Bank proposed injecting around $5 billion into Credit Suisse, ‘The Wall Street Journal’ previously reported. Under the plan, “Credit Suisse bondholders would have been fully protected.” But Swiss ministers rejected the offer.
Finance
The best paper writing service for urgent papers

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