The Most Invulnerable Crypto?
Alprockz AG, a Swiss company, created a stablecoin – ROCKZ (APZ). The company claims that its currency is the world’s most bulletproof crypto. The coin is backed by Swiss Franc (CHF), one of the most stable fiat currencies in the world.
On Tuesday, we reported on “not so crypto-friendly” Switzerland. However, companies in this European country are still trying to develop new coins. One of them is ROCKZ.
Safe and sound cryptocurrency
“The most reliable and predictable crypto cash”, that’s what the company calls it. The APZ can be used for money transfers and online payments such as PayPal. The company claims that it has already partnered with Geneva Swiss Banque.
— ROCKZ (@RockzPlatform) 6 listopada 2018
Yassine Ben Hamida, the founder of ROCKZ, said that the main problem of today’s crypto industry is the lack of solid connection with the real money. He stated:
“Crypto markets are very easy to enter, but exiting market is associated with costs, risks and difficulties. These days many teams are trying to develop stable cryptocurrencies to facilitate global adoption and avoid risks that are mentioned above.”
Ben Hamida compared his coin to Tether, one of the most popular stablecoin. He thinks that the success of Tether shows a massive demand for such stablecoins. However, the founder of new currency pointed out that asset-backed coins have many flaws which his coin simply doesn’t have. He is confident that ROCKZ will be a solid bridge between the digital and traditional economies. “That’s the reason we created ROCKZ,” he said.
Details of ROCKZ
The platform for RKZ is based on the Ethereum blockchain. Franc ($0.99), the Swiss national currency, will back the new coin at the rate of 1:1. The company claims that it will store 90% of its own fund in CHF, in a high-security Swiss bank storage. It will do that to guarantee the worth of the new token.
What about other 10%? The rest of the funds will be spread in different banks in the country in order to secure the token’s liquidity.
ROCKZ can be used to transfer money across the border. The company is planning to issue 175 million APZ utility tokens and sell 15% of it during Initial Coin Offering (ICO). The ICO will be launched later this year. The platform will be released this month, after the completion of the internal testing. According to the website, for the next seven days, everybody can purchase the APZ with 40% discount.
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