Important announcement for the future of Offshore Storage!
Offshore Storage will be available based in other Currencies:
We have teased and previewed this in tweets of our vision for the future mobile app redesign:
The concept for multi-currencies has been in place from very early on in development. Although storage of funds is a major component to Offshore Storage, the use case as a day to day payment platform is very clear. Using Offshore Storage, any user can effectively create cryptographically untraceable fiat to store and transfer worldwide.
In order for Haven Protocol to rival all traditional stable options for a storage or payment platform i.e. onshore and offshore Banks, PayPal, Visa etc on a worldwide scale, support for multiple currencies is imperative.
At this time we are planning to initially release Offshore Storage with Haven Dollars exclusively. The Multi-currencies implementation will be a future hard fork.
The reason for the change is to provide clarity and consistency for all future offshore currencies. Any existing currency ticker can be used simply with adding an ‘X’.
When considering how to identify offshore USD from CAD, AUD, NZD we would have inconsistent formats with our previous ticker format. (XHVD vs XHVCAD) All issues are solved with the addition of a leading ‘X’.
Although from a technical perspective this change isn’t an issue, maintaining consistency from a marketing and discussion perspective is important to avoid confusion.
All other documentation referencing XHVD will be updated to reflect the new XUSD format.
What Currencies are we going to support?
So far we have previewed the following:
More currencies will be announced in the future! If adding a new currency helps bring more users to the Haven Protocol platform, we will work to do so.
This is very exciting from a cryptocurrency adoption perspective for merchants. They will be able to accept Offshore Storage funds and store funds in their respective countries currency. Price stability and privacy are the only hurdles to crypto adoption — and Haven solves both.