Alprockz and Swiss Banks Partner For ROCKZ Stablecoin Backed by Swiss Franc (CHF) Creation
Alprockz Secures Partnership with Swiss Banks in Effort to Create Franc-backed Stablecoin
An AMB Crypto report revealed that Swiss-based blockchain firm, Alprockz has recently partnered with Swiss banks. It seems like the decision to join forces comes from the need for a blockchain platform in which financial services will be offered via the ROCKZ stablecoin.
Why a stablecoin dubbed ROCKZ? According to the Founder, Yassine Ben Hamida, a problem that needs resolving in the crypto sphere is its use cases and its ability to contribute to the real economy.
Compared to the Tether, the argument made is that ROCKZ is far more stable, namely because it is backed by the Swiss Franc, which has been holding strong for nearly 30 years. Furthermore, other facets including monthly auditing, increased liquidity, regulatory compliance, increased security and risk preventive measures are somethings existing stablecoins are unable to offer.
Liquidity is the biggest problem that the crypto market is faced with as it is neither seeing new investors nor are current investors sticking around long enough. To ensure liquidity is not deprived, the ROCKZ firm securely holds 90 percent of Swiss Franc reserves in banknotes with the remainder sitting at Swiss banks. This is essential to regain investor confidence, as the fear of losing money alone pushes investors on the sidelines.
With this recent partnership, the ROCKZ stablecoin will potentially act as a universal financial instrument. Based on the details disclosed on their main webpage, the stablecoin can serve as a tool to preserve profit, an addition to one’s investment portfolio, a payment method in similar ways to fiat currency and as a collateral to Swiss Francs.
The main role the ROCKZ can serve, is that of a bridge that connects the crypto sphere with traditional financial systems. According to Alprockz, investors can request ROCKZ AG “to issue guarantees in favor of financial institutions against a pledge of their holdings in ROCKZ,” which ensures that consumers have not completely lost hope in traditional systems.
Moving forward, Alprockz plans to initiate an Initial Coin Offering (ICO) to raise funds that would contribute towards the enhancement of the firm. For the time being, this endeavor is scheduled to take place in Q4 of 2018 and over time, will work on establishing new stablecoins backed by other currencies, i.e. EUR and KRW.
ROCKZ Stablecoin, The Ultimate One?
When a firm boasts about its native token, it is not meaningful, unless they were able to back their position up with factual evidence. This is something that Alprockz did not fail in, as the Swiss-based firm took to its Twitter account on Thursday, September 6, to disclose a comparative analysis which observed the differences among five stablecoins including ROCKZ, Tether, TrueUSD, Digix and BitUSD.
— ROCKZ (@RockzPlatform) September 7, 2018
Based on the video above, ROCKZ seems to have fulfilled every possible criterion such as transparency, protection of coin holders in case of bankruptcy, audit tract record, and segregation of assets to name the least.
Will ROCKZ be the new face of stablecoin? Is it time to let go of Tether? Share your viewpoints in the comments below.