Rilcoin Review-(RIL) The first ever token sale supporting asset management system
October 21, 2017 11:39 am
Rilcoin Review | (RIL) The first ever token sale supporting an Asset Management System (AMS). Rilcoin which is the first virtual currency including best features of fiat currency. Let’s see what actually it means and how useful it is.
What is Rilcoin (RIL)?
Rilcoin is a digital currency that represents real-world legacy. Rilcoin is a part of an Asset Management System. Rilcoin’s aim is to give the purely designed platform for each and everyone, to present a digital currency which is affordable and can be used by everyone to achieve and control their business and to reach their business goal. As per the information available from official and unofficial sources; Rilcoin is a decentralized, and peer-to-peer virtual currency being designed to support first decentralized asset management system and to facilitate users to transact more transparently and conveniently. Rilcoin establishes itself exclusively than other cryptocurrencies by offering an impressive, and potential platform to its investors.
How Does it Work?
Firstly, let’s discuss the necessary information about Rilcoin. All the needed information about Rilcoin can be found on their official webpage www.rilcoin.io and their blog and news channels www.rilcoinblog.com and www.rilcoinnews.com respectively. According to the standards set by the project, it is a cryptocurrency that is based on a hybrid technology combination of X11 hashing algorithm and Ethereum Smart Contracts.
Rilcoin is a part of Asset Management System. Rilcoin can be used to represent assets across a wide variety of industries and sectors. The company mentions the multi-direction development of the platform which will support devices built using Smartdust technology, self-driving (AI) vehicles, autonomous agriculture, renewable energy, a completely different global real estate, worldwide banking, and much more. The whitepaper of Rilcoin fluently describes how actually it works and what are the uses of using Rilcoin.
The developer’s team claims to bring all useful features of fiat currency into this hybrid cryptocurrency. And, all the unexpected features are claimed to be favorable using smart contracts. Some of the investors or crypto activists may disagree, but its flexibility to acquire all the benefits of fiat currency makes it more acceptable to the consumers and merchants. This makes Rilcoin more profitable investment as compared to all the other existing and new cryptocurrencies laughing soon.
The Rilcoin ICO
As we have already mentioned above, The Rilcoin ICO will start from November 1, 2017. Total 30 million tokens are being sold through the ICO crowd sale. The crowd sale is divided into 3 phases; each phase offers 10 million tokens. The first phase has 25% bonus for early investors, the second phase provides 15% bonus, and the last phase has 10% bonus. This bonus means the buyer will get extra Rilcoins at the time of the Rilcoin allocation in mid 2018.
Another positive side we see is the implementation of ERC20 tokens. The company has decided to issue ERC20 tokens to the investors through crowd sale, which is the latest trend in the crypto investments. It indicates that almost all of the Ether wallets which are designed for the ether currency will support ERC-20 compliant tokens. This makes investments safe as the investor does not just get a proof of their investments; but a smart contract token, which can be bought, sold, or traded. So far Rilcoin team has not officially announced about the possibility of trading of Ril Tokens.
The total funding from the Ril-token sale will be allocated as follow:
- 52%: Available in Rilcoin’s cold storage wallet.
- 20%: For the development team.
- 13%: For business development.
- 9%: For research and development.
- 4%: For bounties.
- 2%: For the founders.
Who’s behind the idea of Rilcoin and the Decentralized Asset Management System?:
Rilcoin has two founders viz. Ms. Suzette Paulsen, a USA based businesswoman, and Mr. R. Kathiriya, a businessman from India, based in the United Kingdom. They together came up with the idea of a decentralized asset management platform and later decided first to design a crypto-currency which can have benefits similar to a fiat currency as well as the freedom and anonymity of a cryptocurrency. They speak about the flaws or limitations of the existing crypto-currencies in their white paper. The idea pushed an innovative cryptocurrency which holds all or all-possible positive attributes of a fiat currency.
Rilcoin (the hybrid cryptocurrency) is planned to be launched in the mid of the year 2018. The two technology partners, TechRangle Inc. a Canadian technology company and Quickdesk Solutions Ltd. a UK based technology took this challenge and intends to deliver it’s beta release in mid 2018. The asset management system may take longer time to come into existence.