There are so many cryptocurrencies in the world right now but still this new Cryptocurrency named as Rilcoin is created, my question is that why is this new coin created and what is the purpose of it?
The concept of Rilcoin is being introduced to provide a new structure to asset management system. Asset management mainly refers to any system that manages and analyses things of value to an entity. It may be utilized for both tangible as well as intangible assets. Asset management is a process of deploying, upgrading, operating, maintaining and disposing of assets that will be cost-effective. Rilcoin is going to be an entirely new platform for asset management systems which will provide a unique perspective to financial tools as well as investment tactics. It will propose users to investing in real-world assets and cryptocurrencies assisted by blockchain safety, that would introduce a whole new way of investing.
The real world assets and other alt-coins and can be tokenized through this decentralized Asset Management Platform and multiple investors can invest in a single asset simultaneously. The assets will be verifiable assets; an Artificial Intelligence (AI) fraud prevention system will prevent users from investing in high-risk assets. The Fraud Detection system will be managed by Artificial Intelligence. Assets will be classified into categories like high-risk, low-risk & safe using an algorithm of trust rating.
Rilcoin is a decentralized cryptocurrency based on a technology posses features of fiat currency. Some of the features that would not be like fiat currency will be made so through smart contracts. Its flexibility to include all the leverages of fiat currency makes it an exclusive one among all of the cryptocurrencies. It will be the very first cryptocurrency having qualities of fiat currency.