In this post, you can get answers to five fundamental questions that may arise in your mind regarding Rilcoin.

1. What is Rilcoin?

Rilcoin is basically a peer-to-peer digital currency that offers quick, and approximately negligible cost payments which can be performed by anyone throughout the world.

Rilcoin is an open source and global payment network which would be entirely decentralised excluding involvement of any central authority. Mathematical puzzles protect the system and let users access their financial accounts.

Rilcoin is an upcoming cryptocurrency that will be based on a technology equivalent to Fiat Currency. If any of the features that wouldn’t be similar to fiat currency, then it will be made appropriate through smart contracts. Its flexibility to avail all the benefits of fiat currency makes it a profitable one among all the other cryptocurrencies. It will be the first cryptocurrency having qualities of fiat currency.

2. Who introduced the idea of Rilcoin?

The first ever cryptocurrency was introduced by Satoshi Nakamoto, an anonymous figure. In the year 2008, he shared a white paper regarding Bitcoin, i.e. a peer-to-peer cryptocurrency.

After bitcoin, a lot of cryptocurrencies kept on coming; many succeeded and many poorly failed. Nonetheless, the blockchain technology is being appreciated by and adopted by more and more investors and finance enthusiasts.

Rilcoin founders Ms. Suzette Paulsen, a US based business women & Mr. R. Kathiriya, a businessman from Indian origin, based in UK, came together with an idea of a decentralized asset management system backed by an innovative cryptocurrency which has all good features of fiat currency.

Now, a new cryptocurrency Rilcoin is about to be launched in 2018, as a result of the collaboration of technology partners, Quickdesk Solutions Ltd. (a UK based technology company) and TechRangle Inc. (Canadian technology company) and many others collectively beginning Rilcoin ICO, Token Sale starting from November 1, 2017.

3. What is so unique about Rilcoin?

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 invest in cryptocurrencies assisted by Blockchain safety and real-world assets that would introduce a whole new way of funding.

Rilcoin is a decentralised cryptocurrency based on a technology equivalent to 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.

4. What is a decentralised currency?

Rilcoin is a decentralised currency and it means “not centralized”, i.e. removing access of government, any individual or central authority. It means that Rilcoin can be spent anywhere throughout the world without any involvement of any country’s governemnt. Decentralised concept is independent of the concept of geographical limitations.

5. Is Rilcoin anonymous?

When the concept of cryptocurrency was launched, bitcoin was considered to be anonymous but as soon as some years passed, people started to raise a conflict about the same that they need to know the identities while performing transaction, so Bitcoin further introduced KYC/AML regulations in which KYC/AML combined stands for know your customers/anti-money laundering. This needs users to submit identity and residence proof. Similarly works the Rilcoin. It simply means that it can be anonymous or not according to the requirement of the users.

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Author's Bio: 

RilCoin is a cryptographically managed system that initiates secure, open-sourced & fully decentralised crypto-currency, Ril Coin! Ril is programmed by exceptional intellectual and creative contributors from around the world.