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Alprockz Partners with Swiss Banks to Issue a New Stablecoin Backed by Swiss Franc

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Alprockz Partners with Swiss Banks to Issue a New Stablecoin Backed by Swiss Franc
Source: Alprockz

The Swiss company Alprockz AG announced the development of a new financial and technical tool, powered by the Ethereum blockchain-based platform to provide financial services by issuing ROCKZ stable coin. The Alprockz platform will allow users to benefit from a stable coin used for fast and economic monetary transfer around the world. Among the key features will be the conversion of cryptocurrency into a reliable & stable funds at real time, along with opening up limitless opportunities for market makers to switch to a new base currency.

ROCKZ (RKZ) is the stablecoin, backed by a national currency – the Swiss franc (CHF), which will be issued at a ratio of 1:1. At the same time, the company-issuer ROCKZ AG will store 90% of its reserve funds in CHF banknotes in high-security Swiss bank storages. Another 10% will be placed in storage in various Swiss banks to ensure coin’s liquidity. This will give to the issuer credibility, and when it comes to Rockz holders – confidence that the digital asset is backed by fiat money.

Thus, ROCKZ eliminates the main shortcomings of the cryptocurrency industry and solves two major issues: forming a reliable bridge between digital assets and the traditional economy, by recording profits, while they remain in the crypto market. The main difference between ROCKZ and, for example, Tether is the absolute transparency of financial reserves. It reduces the risks of the counterparty’s default.

ROCKZ сryptocurrency is fully backed by Swiss franc and is compliant with national and international legislation following the cryptocurrency regulation. Alprockz AG is registered in Zug, owned by Swiss investors and is audited. Monitoring and confirmation of the fiat-backed concept of ROCKZ will be carried out monthly with the reports publication. A list of financial intermediaries and bank vaults providing stability to Rockz is available at any time.

ROCKZ AG will work with regulated trading counterparties, mainly based in Switzerland. ROCKZ holders have to pass the standard KYC process. Financial reserves that serve as ROCKZ provision can not be invested or used otherwise to generate additional income.

ROCKZ team, which includes large financiers and IT developers, expects that the new fintech service will be in demand in the following niches:

  • E-commerce. ROCKZ can be a convenient method of payment, along with payment services like PayPal and Webmoney in view of the stability of the underlying asset and low commissions within the network.
  • Investments. ROCKZ can be a store of value asset.
  • Money transfers. ROCKZ can become a reliable tool to facilitate cross-border transfers in view of low commissions and low volatility in the market of $ 65.7 billion (excluding corporate transfers).
  • Banking. Based on ROCKZ, you can create a large number of financial instruments: loans between platform users, bank deposits, etc.

ROCKZ stable coin backed by Swiss Franc – the most stable currency in the world should become a more attractive financial tool than its competitors – Tether, TrueUSD or Dai, all backed by the US dollar.

The ROCKZ monetization model, proposed by the developers, includes not only commission fees for the conversion of ROCKZ to fiat, but also the issuance of partner licenses to market makers, which turns the platform into a full-fledged financial service, in contrast to competing financial intermediaries.

As a result, ROCKZ receives not only financial stability based on the Swiss franc, but also protection from exchange rate manipulation. This fact can make it the most reliable and predictable cryptocurrency.

Alprockz AG will launch an ICO in Q4 2018 to develop further the company and the platform. The platform which has been built to develop ROCKZ will be able to host further financial products in the future. The company plans to add other stable coins backed by EUR and KRW in 2019.

As a service provider Swisscom (listed on the Swiss Exchange, ticker: SCMN), will provide the digital identification services of ROCKZ users. This will allow ROCKZ AG to conform to strong Swiss regulations. Furthermore, Swisscom’s daughter company Swisscom Blockchain AG supports as the technical provider of the tokenization. It provides the infrastructure to onboard the participants in the token sale (launchpad, compliance process), the smart contract and the infrastructure to issue the token.



As the founder of Alprockz Alexey Borichev stated:

“The reason for choosing a Swiss provider is in the regulatory aspects, which we must respect, as a corporation registered in Switzerland and launching a token sale.”

More details about the Alprockz platform can be found at https://alprockz.io





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    Matt

    September 9, 2018 at 4:51 AM

    Any asset backed stablecoin (such as described above) is essentially a coupon representing the currency behind it. What we need is a non-collateralized soft peg. Something like BitBay’s dynamic peg, where the currency’s value is determined by votes of its users.

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Ethereum

Ethereum [ETH] might have caught a break from bears due to formation of ‘Golden Cross’

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Ethereum [ETH] might have caught a break from bears due to formation of 'Golden Cross'
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Ether, more commonly known as Ethereum, is the world’s second largest cryptocurrency and it might have turned bullish due to the initiation of the ‘Golden Cross’ in the daily chart. Golden Cross, is when the 50-day simple moving average crosses above the 200-day simple moving average, which indicates that the price has turned bullish and that the cryptocurrency has bottomed.

Source: TradingView

Historically, Ethereum’s last Golden Cross took place in February 2017, when the price of ETH was ~$10; the price after this cross was bumped to $1,600, which was a meteoric rise of 15,000%. As bullish as this sounds, this might not be the good news that the crypto community is hoping for, as the ‘Golden Cross’ isn’t absolute and there are times when the crossover could be a fakeout. Crossover fakeouts had occurred for Bitcoin in 2014.

The weekly chart for Ethereum has been consistently forming higher highs since 2019, which is a bullish indication. The MACD indicator and the RSI indicators are both indicating a steady rise since 2019.

All aboard the ‘Speculation Train’

If another meteoric rise is to be expected from the crypto ecosystem, the price has to undergo a parabolic rise. The price of Ethereum at press time was $174 and had a market cap of $18 billion; assuming approximately 10,000% increase [instead of the 15,000% rise], the price of Ethereum would reach approximately $8,000 by March 2020.



A Reddit user @alkalinegs commented:

“if you look at the last golden cross early 2017 it took a few days till something happend. death cross 2018 even resulted in a bulltrap. -> dont expect an immediate reaction.”

Quite a few people use the exponential moving averages and disagree with the use of Simple Moving Averages, which is opinionated. Another Reddit user, @DeliciousPayDay commented:

“I strongly disagree. SMA 200 is more important and everyone in crypto looks at it. After breaking the 200MA at $151 ETH went straight to $180 before being sold off, and bounced directly off the 200MA the next day turning resistance into support. The 50/200 golden cross just happened on the SMA and the last time that happened ETH went from $12 to $1400.”





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