ROCKZ - A New Cryptocurrency That Brings Solidity And Confidence In The Cryptocurrency Market

Hello everyone, this new post I want to introduce about a very interesting and good project that is ROCKZ, and for more details, let's just go to the following discussion:

About ROCKZ

ROCKZ is a new cryptocurrency that brings solidity and trust into the volatile cryptocurrency market for the first time. Unlike other cryptocurrencies ROCKZ is backed in value to one of the world's strongest and most sustainable currencies, the Swiss Franc, in a 100% transparent and legally enforceable way

PROBLEM

Traders and investors engaging in the cryptosphere today must learn to live with certain risks. There is currently no reference or reserve currency that satisfactorily mitigates these risks. This means that, for the time being, the only safe way for crypto investors to secure their profits is to return to fiat currency and thereby exit the cryptosphere.

This identifies an inherent tension that, if left unsolved, will inhibit the future growth of the cryptosphere as an asset class.

Let's examine the nature of the risks at play.

Investors can leave fiat currency in certain exchanges, but will bear a counterparty risk since most of the exchanges are unregulated. Unregulated exchanges are effectively the owners of the assets deposited by their clients, be they fiat or coins. In case of bankruptcy, fraud or, (self-declared) hacking, those assets are completely at the risk of being lost. There are a few regulated exchanges that do protect deposits, but only to a certain limit, based on country protection schemes. At best, there are only limited protections for anyone depositing assets into exchanges.

On top of that, there is a huge security risk, with many exchanges having been hacked during the last few years. Hundreds of millions of dollars were stolen in 2017, and in cases so far in 2018, we have seen the total number of stolen assets reach alarming levels . When coins and tokens are held at centralized exchanges, investors' assets can disappear within seconds, and typically are never recovered. It has happened and will happen again.

Of course investors can, with some know-how and at additional cost, transfer their crypto investments to cold wallets in order to mitigate some security risks. Nevertheless, cold wallets do not erase the market risk of holding main coins used as a pivot or reserve, such as Bitcoin or Ethereum. These main coins still bear extreme volatility and therefore do not eradicate all risks for investors

SOLUTION

ROCKZ addresses a major shortcoming of the cryptosphere: the lack of a trustworthy anchor in the traditional economy - a way to book profits while still staying in crypto; a way to address counterparty, security, and market risks.

Institutional investors, such as funds, insurance companies or pension funds, are willing to enter this new asset class, which is decorrelated from traditional investments. But to penetrate this new asset class they need a point of reference, a safe harbour, a reserve coin. This is ROCKZ.

The ROCKZ issuing company enables investors and traders to exchange their main crypto currencies against a ROCKZ. For each ROCKZ issued, 1 Swiss Franc (CHF) is held by the ROCKZ issuing company for the account of the coin holders. By definition,ROCKZ is stable.

The ROCKZ issuing company holds up to 90% of its reserves in Swiss Francs (the Reserves) in physical paper form (i.e., banknotes) which are deposited in high-security Swiss Alp Bunkers and Vaults. The remaining 10% is held with various Swiss Banks to ensure short-term availability of the Swiss Francs. ROCKZ is solid and agile.

COMPETITIVE ANALYSIS

However, Tether and other asset-backed coins have inherent flaws that ROCKZ does not.

ROCKZ coins are fully backed by CHF Reserves, the strongest currency in the world, with 90% in physical form deposited in vaults and banks. By choosing a physical form at a levelof 90%, coin holders don't need to fear about the safety of the banks. ROCKZ is completely transparent as regards to Reserves held for coin holders and they are audited on a monthly basis.

ROCKZ coin holders have a legal right to CHF fiat currency in an equivalent amount of their investments. Even if the ROCKZ issuing company goes bankrupt, coin holders will get their legal claims against the ROCKZ issuing company transferred by vault operators and banks.

ROCKZ coin holders can transfer equivalent CHF fiat amounts to their