Circle USD Coin - A new cryptocurrency by Goldman Sachs

Circle, owned by Goldman Sachs, is launching a new cryptocurrency called the Circle USD Coin.
The new currency is basically a digital version of the dollar.
The USD Coin is the first cryptocurrency released by a major financial institution.
It goes against the whole point of decentralized and distributed cryptocurrencies.
Circle will tie the value of a coin to that of a US dollar.
It seems like the only way to acquire new USD Coin is to purchase them.

Goldman Sachs have produced a cryptocurrency to rival the US Dollar.
The currency aims to be a faster and more secure version of the US Dollar.
The purpose of this is to create a hybrid that is exposed to the best of both worlds.
The addition of blockchain technology to the US Dollar, also makes USD a much more secure asset.
People will also not be able to mine the USD Coin in the same way other cryptocurrencies can be generated, as the only way to acquire them is to buy them.
It will not be a peer-to-peer, decentralized system.

Goldman Sachs, has just announced the launch of its very own bitcoin rival.
It’s the first cryptocurrency to be created and released by one of the world’s leading financial giants.
Circle is tied to the U.S. dollar.
Essentially, this is a U.S. dollar that operates on blockchain technology.
A price-stable currency, such as a token pegged to the U.S. dollar, is critical for enabling mainstream adoption of blockchain technology for payments.