[ANN] New Stabletoken ROKS on the Ethereum network

[hotforblockchain]

-Overseas Filipino Workers (OFWs) buy ROKS and a tiny amount of ETH from ExMarkets.com for sending to their relatives back home in the Philippines (the beneficiaries). They send ROKS and a very minimal amount of ETH (for Ethereum gas) to their relatives using their “wallet” in ExMarkets.com. It is also possible to buy and send just ETH.

-The beneficiary relatives receive the ROKS and ETH in a couple of minutes. They use the Opera crypto wallet in their smartphones to get an Ethereum address (account) and keep track of their money in that address. They also use the Opera wallet to pay vendors.

-Vendors have to have the RockStable point-of-sale app MainSale to be able to accept ROKS. Evangelists sells territorial rights to MainSale to the vendors.

-Vendors collect ROKS they receive as payment. At certain periods (maybe weekly), vendors sell their ROKS at coins.ph, pdax.ph, or citadax.ph for PHP or USD. Evangelists help their vendors sell their ROKS.

-RockStable sells ROKS to OFWs in Bittrex; we buy ROKS from vendors in the Philippine exchanges.

You can check out our case uses: https://rockstable.io/use-cases

This is all good but why you would need new coin for this, you could easily achieve this by using any other currency with fast transfer which would be changed in the other end to USDT or FIAT fast enough.
Still the question remains also , those who would need to use those transactions .. do they have smartphones and knowledge how to use them  This still is my main concern.

[eduardoforce]

What is or will be the price of EVAN tokens and will it be connected to ROKS' price?

[cmilliorn]

How to force people working abroad to use ROKS instead of what they use now? And, please answer, what systems are they actually using now for remittance?

[JustGaga]

-Overseas Filipino Workers (OFWs) buy ROKS and a tiny amount of ETH from ExMarkets.com for sending to their relatives back home in the Philippines (the beneficiaries). They send ROKS and a very minimal amount of ETH (for Ethereum gas) to their relatives using their “wallet” in ExMarkets.com. It is also possible to buy and send just ETH.

this is makes a lot of sense.
i have red about similar projects which succeed. The main concern for me is that those workers and their families will have little access to exchanges , bank accounts , credit cards. I imagine they need psychical access to money transfers similar to western union just a LOT cheaper.

What similar projects have you heard about? I'm just interested because I have never heard about another such projects.

[blue_hurricanger]

How to force people working abroad to use ROKS instead of what they use now? And, please answer, what systems are they actually using now for remittance?

True, hash to say but I don't find any good reason that ROKS could replace what people in oversea already use to send money back to their family.

[flyonwall]

Another stablecoin, do we really need another if we have so many of them right now? Is it really something special?

Roks will be different from other stablecoins, The existing stablecoins out there are usually designed for exchanges while ROKS is meant as a medium of exchange for everyday stuff like groceries. Other stablecoins promises 1 to 1 backing at all times. We don't promise that because it amounts to very inefficient use of capital. However, we do promise to keep the peg to USD while USD keeps its value.

Than how could you say this is stable coin while there is no guarantee of capital than it will survive in long term. I think you want to say this is another cryptocurrency but want to sell at the amount of 1 USD and that is why you calling this new stablecoin.

In the beginning, it is important that there be 1-1 peg against USD. Later, as the amount of ROKS in circulation grows, standard monetary policies can be utilized to keep it stable. All actively managed currencies go through the same phases: introduction, transference of trust, active management of quantity in circulation according to measured purchasing power, etc. A currency that is managed well will keep its purchasing power through time. Different stablecoins / stabletokens will compete according to a standard measure of stability. Some stablecoins will experiment with algorithmic stabilization mechanisms; we will use whatever is proven to work.

At some point, if and when USD loses its stability and we have gained the trust of many users, we will have to break the peg in order to keep the value of ROKS on an even keel, independent of USD. ROKS will have a variety of asset backing at that point, including volatile cryptos. There may be times when the backing value exceeds the total amount of ROKS in circulation.

[workasset1]

What is or will be the price of EVAN tokens and will it be connected to ROKS' price?

EVAN tokens can vary in price, but ROKS is currently pegged to USD.

[purely]

CMC doesn't know Exmarkets exchange, and it seems it's been made only for launching IEOs

[Extassy]

How to force people working abroad to use ROKS instead of what they use now? And, please answer, what systems are they actually using now for remittance?

True, hash to say but I don't find any good reason that ROKS could replace what people in oversea already use to send money back to their family.

The Rocks project will really be very necessary for Filipino workers to send money to their families. I have already met similar projects but only in the region of Africa.

I' m sure that Rocks will fill the void of projects made for remittance.

[MeGaBeSuNTa]

Dear Rocks team, please do all your best because you can make a revolution bin stablecoins' market, I hope you will satisfy our requests

[hotforblockchain]

this is makes a lot of sense.
i have red about similar projects which succeed. The main concern for me is that those workers and their families will have little access to exchanges , bank accounts , credit cards. I imagine they need psychical access to money transfers similar to western union just a LOT cheaper.

What similar projects have you heard about? I'm just interested because I have never heard about another such projects.

I remember reading about small business which started with money transfers from China to some other regions . Their customers were foreign workers who wanted to send money to their families back home.

The article was about a year ago, I cant find it now . I remember they grew to larger successful business.

I would not be surprised if this project was inspired by them.

[krazyninja]

What do you mean by remote and face-to-face transactions? Can you explain me? I don't understand.

It's one on one transaction, you are talking to the person face to face and transacting your business. While remote is more of doing business from one country to another country.

So, most of cryptocurrencies are made (and are used) for remote transactions,right? So, what's the problem then?

[deadab1234]

So are you going to make an IEO on Exmarkets right? Why? And didn't you notice that Exmarkets has another srablecoin listed

[purely]

I'm looking forward to meet with your team closer and know more about your future plans

[Extassy]

-Overseas Filipino Workers (OFWs) buy ROKS and a tiny amount of ETH from ExMarkets.com for sending to their relatives back home in the Philippines (the beneficiaries). They send ROKS and a very minimal amount of ETH (for Ethereum gas) to their relatives using their “wallet” in ExMarkets.com. It is also possible to buy and send just ETH.

-The beneficiary relatives receive the ROKS and ETH in a couple of minutes. They use the Opera crypto wallet in their smartphones to get an Ethereum address (account) and keep track of their money in that address. They also use the Opera wallet to pay vendors.

-Vendors have to have the RockStable point-of-sale app MainSale to be able to accept ROKS. Evangelists sells territorial rights to MainSale to the vendors.

-Vendors collect ROKS they receive as payment. At certain periods (maybe weekly), vendors sell their ROKS at coins.ph, pdax.ph, or citadax.ph for PHP or USD. Evangelists help their vendors sell their ROKS.

-RockStable sells ROKS to OFWs in Bittrex; we buy ROKS from vendors in the Philippine exchanges.

You can check out our case uses: https://rockstable.io/use-cases

This is all good but why you would need new coin for this, you could easily achieve this by using any other currency with fast transfer which would be changed in the other end to USDT or FIAT fast enough.
Still the question remains also , those who would need to use those transactions .. do they have smartphones and knowledge how to use them This still is my main concern.

Agreed, now be have a bunch of cryptocurrencies, very fast, very cheap and some of them are being used widely. USDT isn't the best stablecoin, though.

[obaviet]

Are you going to make IEO, ICO or something? How are you ging to make people invest in your token?

We will have a "bounty" for evangelists. Evangelists are people who go around their area convincing vendors to install MainSale, our point-of-sale app.

It's like promoters or trading agents, do you need this evangelists only in Phillippines?

Our focus will initially be in the Philippines, but if you are interested in starting an evangelist movement in your country, we are all ears! Send us an email: contact at rockstable dot io.

What's the profit or reason for vendor to install MainSale? How are you going to promote your solution?

[dharmapriya]

What experience does your team have? Has you ever launched any token or blockchain? Thanks for the answer

[up360247]

How can I be sure that Rocks token price won't fall under $1? Even you say, it's not reasonable to peg your currency to USD only and we heard many scandals with other stablecoins so they aren't stablecoins anymore.

[workasset1]

What do you mean by remote and face-to-face transactions? Can you explain me? I don't understand.

It's one on one transaction, you are talking to the person face to face and transacting your business. While remote is more of doing business from one country to another country.

So, most of cryptocurrencies are made (and are used) for remote transactions,right? So, what's the problem then?

You are correct, most transaction in crypto is done remotely. But part of the goal of Rockstable is using Roks for remittance with cheap fee. We want to help everyday people reduce the cost of sending money to their loved ones. Sending money from one country to another is done remotely and at a high cost, so we want to solve that problem. At the same time, Our aim is...Roks will be used for everyday transactions and purchases like groceries, services and transportation. It will help encourage and promote crypto-adaption globally.

[dingwenyi]

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