Spera is designed to bridge the gap between fiat currency and cryptocurrency by anchoring itself to the US dollar to create real intrinsic and exchangeable value.
Audits and open-proof of dollar reserves underlie the Spera assurance of the one dollar to one Spera exchange guarantee needed to support the marketplace.
It is the authentication of a financial agreement or monetary transaction, in which a third party validates all processes and milestones to facilitate two exchanging parties. This escrow service will include verifying the identity of participants and sources of funding. It makes transactions safer, because agreements are recorded on the Blockchain through digital smart contracts and compliant through traditional banking channels. Verifundr provides escrow payment in US dollars or Spera coins.
The issuer will stand ready at all times to issue Speras to any Verifundr vetted member or registered public exchange at a US$1 cost per each Spera coin. The coin issuer will assure Spera maintains the US$1 deposit. This model is different than the traditional tethered or stablecoin concept as the coin issuer stands ready at all times, to honor this swap rate quickly and efficiently. It will be secured by an omnibus custodial account that holds the fiat dollars deposited to purchase the issued Speras.