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Alprockz Partners with Geneva Swiss Bank to Create New Form of Money

Cryptocurrency NewsNov 09, 2018 04:00PM ET
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© Reuters. Alprockz Partners with Geneva Swiss Bank to Create New Form of Money

Stablecoins became the latest trending and hottest topic in today's cryptocurrency ecosystem. They are perceived as the answer to key issues faced by cryptocurrencies, i.e their rampant volatility and high risk which inhibits them from realising their primary use case: a medium of exchange and store of value.

Stablecoins serve as a solid bridge between cryptocurrencies and the real economies, promoting global adoption of digital assets and blockchain technology.

Tether is the first and best known fiat-backed digital coin, but quite a few have emerged since its launch. Recent ones include the Gemini Dollar project by the Winklevoss twins and USDC from the Circle-Coinbase partnership. Unlike the rest of cryptocurrencies, successful stablecoins have no to little volatility and are meant to store and protect wealth as well as to become a cryptocurrency-based mean of payment.

However, this type of digital assets has its own flaws, which include lack of transparency, high level of centralization, and the risk of price manipulation. To address these issues, an international team of traders and investors with a strong background in traditional banking and finance has created ROCKZ - a digital asset backed by the Swiss franc, which is considered the most stable Fiat currency.

How ROCKZ works

ROCKZ aims to address cryptocurrency market volatility and allow users to store value and transact with digital assets in a stable, reliable way. Every ROCKZ is backed 1:...


This article appeared first on Cryptovest
Alprockz Partners with Geneva Swiss Bank to Create New Form of Money
 

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Daniel Chidozie
Daniel Chidozie Nov 10, 2018 1:28AM ET
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wow
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