ROCKZ- The First Legally Enforceable Stablecoin
INTRODUCTION
The traditional market is decreasing rapidly with the number of IPOs in the system which is very alarming and it’s mostly blame on high pressure by government on the initial public offerings. Contradictory, it has limit participants of public offering as it is made in such a way that the public only buys the shares or stock if the companies are to go public, when this happens the initial stock or shares price increase to about 2× the initial price or more which mean the poor only have to keep up the rich keeps on getting richer.
For crypto projects to get findings, the major ways are through initial coin offering or initial token offering. The boom is the name and this market is still new.
It can be said that the ideas of ICO are good, thus, it might live long since it can address several shortcomings and the problems that are currently existing.
One of the issues to address is bridging both the traditional and the experimental cryptocurrency.
Problems
Today's crypto market is facing a lot of problems and shortcomings which as a result of not having any viable means of avoiding the inherent risk in the volatile of the cryptocurrency. In order for investors to keep their profit and mitigate volatility risks, they the crypto investors trade their returns back into fiat currency. This might not be easy as it seems since some of the exchange platforms they use don’t have the support for fiat currency trading.
ROCKZ whitepaper outlines several optional problems that crypto traders have to face in the crypto space. Some include leaving their fiat currencies in the hands of exchange platforms, which is very alarming since most of this exchange platforms are not regulated.
ROCKZ whitepaper outlines several optional problems that crypto traders have to face in the crypto space. Some include leaving their fiat currencies in the hands of exchange platforms, which is very alarming since most of this exchange platforms are not regulated.
Exchanges can be hacked, get bankruptcy, commit fraud and even if these exchanges get protection, and it is limited.
From previous happenings, it happens that people tend to lose their funds after these exchanges have been hacked with no means to solve that issue. And not forgetting the use of cold wallet which is another option of crypto investors to transfer their cryptocurrencies into a cold wallet, this cold wallet protects them in times of hacking or in times where the exchange platform malfunctions.
It good to use the cold wallet but one has to know that if this still does not protect the investor or the user from the volatile nature of this crypto world. Which in this cause lead most of these investors to lose their profits and some of them even sinks into a lose sitting when the market enters into the bearish trend
It can also be the selling of cryptocurrencies into fiat and later withdraws from this exchanges which is another option for investors but not forgetting it is time-consuming and comes with high fees, this means that the market is not matured and has high volatility. This shows that one does not have a great of an option to enter and come out of the market and take profit. All these issues stated above needs solving which is what ALPROCKZ is going to solve.
Overview
With the aim of solving the current problem existing in the crypto market and to replace the existing dominant coin in the market that lacks transparency, ALPROCKZ wants to create a more stable reserved coin backed fully with real money. This can be achieved by aiming at full transparency which the today market lacks.
The ROCKZ issuing company according to their whitepaper will give help to both the traders and the investors to exchange cryptocurrencies against the ROCKZ. Thus backing every ROCKZ issued with 1 Swiss franc (CHF) held by the ROCKZ company for the coin holders account. Because it’s a stable currency, most people should familiarize themselves with it.
One role is for the company to hold for 90% of reserve on physical paper in Swiss franc that would deposit as stated in their whitepaper I high-security vaults and Swiss Alp Bunkers. The 10% left is to hold in other Swiss banks ensuring the short term availability of Swiss franc
By segregation from the operating account of the company, ROCKZ in any case of bankruptcy has it coin holders to still full access into their franc fiat reserve, thus getting the CHF via a bank exchange. This means that the ROCKZ Company will be able to still independently exist if the company go to bankruptcy.
Someone will still ask, why the use of Swiss franc and not USD and other well know currencies.
Well the key reasons for the use of Swiss franc are as follows
The Swiss franc or CHF is a currency that is immune to devaluation or inflation, so by using it make ROCKZ a very useful one since it can be used a store for wealth with its flexibility of entering and exiting the crypto market.
Over the past years, for about 50 years now in comparing the USD to the CHF, it can clearly be seen that the USD has lost about 78% of its value with the CHF still been relatively solid.
This shows that in about the next 50 years to come all the stable coin using the USD could lose it a value which will the effect the crypto market that could be matured and accepted by gaining major support.
With the country Switzerland been a politically neutral country with it private sector holding long term respect, it can be said that the use of Swiss franc is good for the financial market and the crypto ecosystem in general. For price movements, government stance and roles are crucial of importance for the crypto world.
One can be ensured that businesses will definitely go well when making a digital currency in a supportive country like Switzerland. Switzerland accounts for 25% of the world market share globally (offshore accounts), showing that the CHF has a very strong and fundamental value in the global market. ROCKZ or ALPROCKZ can be used for investment, money transfer, E-commerce and other operational processes.
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