What is Rilcoin?

Rilcoin is a crypto technology-based, fully decentralized crypto-currency, which has all the benefits of fiat currency as well as the freedom and anonymity of a crypto-currency. Rilcoin is a part of a Decentralized Asset Management System (DAMS). The assets are further classified into High-Risk Assets and Low-Risk Assets.

What is decentralized asset management system?

The real world assets and other alt-coins can be tokenized through the Decentralized Asset Management Platform and multiple investors can invest in a single asset simultaneously. The assets will be verifiable assets (Proof-of-Assets); The Fraud Detection system will be managed by Artificial Intelligence (AI).

What are the use cases of Rilcoin?

Smartdust Technology:

Smartdust is a system of many tiny microelectromechanical systems (MEMS) such as sensors, robots, or other devices, that can detect, for example, light, temperature, vibration, magnetism, mechanical and chemicals. Application of Smartdust, Self-driving vehicles, Crypto Cloud Computing and more in developing tools for business use, Military applications, and for making life easier.

Autonomous Agriculture:

Autonomous Farming & Equipment (Cultivation of farms using auto-driven GPS operated machines) With this technology, a farmer is able to operate the autonomous tractor manned or unmanned. The autonomous tractor can work together with other manned machinery. The Purpose of Decentralized Asset Management System (DAMS) is to provide the lowest cost path to building successful robotics companies in the agriculture industry and to help investors to invest directly into companies, machinery or just a single machine which is being used in the farms.

Real Estate:

Buy or Sell Property through crowdfunding. Profit or Loss gets shared within the Investors. The platforms allow trading in real estate as a commodity. The transactions happen over a secure and transparent platform (Proof-of-Trust) based upon blockchain technology which is more secure and robust.

Renewable Energy

Solar farming, Resource Sharing which can be purchased and sold as a commodity through Decentralized Asset Management System (DAMS). The world is moving towards renewable sources of energy and with the use of Solar farming, it is possible to invest in solar equipment installed miles away from your geographical location.

CryptoChat, Crypto-Donation Platform, E-commerce. Cryptochat is a free application for the community to be able to accept payments over the chat. Crypto-Donation Platform is another end-to-end, secure and robust platform for extending your financial support to anyone needy in any part of the world. Altogether the asset management system boosts Manufacturing and Logistics industry with the help of a crypto-currency as real as fiat currency.

Worldwide Banking:

Decentralized banking without geographical borders and political barriers. A platform which offers seamless, real-time transactions across borders and at the same time more secure than the traditional banking. Rilcoin makes real-time transactions based upon the proof of trust.

How can I buy and sell rilcoins ?

We can not buy Rilcoins directly because first we have to buy Ril-tokens through the crowd sale (ICO). Rilcoin crowd sale has been already started from 1st November 2017. To know more about the crowd sale information, you can go through the participation guide of the Rilcoin. As of now, you can not sell Rilcoins.

What are the Prerequisites of Investment:

1.Sign up and log-in:

First, we will have to log-in or sign-up into the website www.rilcoin.io. we can log-in by using Google Profile or Facebook Profile. If in case you log in by using other mail address, you will be required to verify the mail.

2.Create My Ether Wallet Address:

The important part is to purchase the Ril Tokens by creating the wallet on My Ether Wallet. There are several steps to be followed for creating the wallet address on MyEtherWallet. These steps are available on the Rilcoin participation guide.

3.KYC Process:

While entering into the KYC Process you will have to follow these two following steps:

1.Personal Details:
You will be required to fill all your personal details in the form
2.ETH compatible Wallet Address:
You will have to mention your ETH compatible Wallet Address.For the completion of the full KYC process, it takes 3-4 business days.

What are Ril tokens?

Ril tokens (RTK) represent a Proof of Asset of the Ril platform. Users can buy token through crowd sale in the ICO period. The investors who contributed their investments in the ICO will be issued Rilcoins (RIL) in exchange of Riltokens (RTK) with the bonus.

How to buy RIL token from rilcoin.io?
1.Go to //www.rilcoin.io/
2.Click on login button.
3.Then you will be on the dashboard.
4.Click on buy token.
5.Complete the procedure for KYC.
6.Then, you can see RIL token contract address and JSON/API.
7.Now, you can send ETH to RIL token contract address from MyEtherWallet.

Can I send ETH From any exchange?

We should not send ETH directly from an exchange (e.g. Coinbase/Poloniex) or using the Jaxx wallet. Rilcoin will not be responsible for ETH sent from an exchange or incompatible wallet.

Who is building the Rilcoin’s Decentralized Assets Management System?

Rilcoin founders Ms. Suzette Paulsen, US-based business women & Mr. R. Kathiriya, a businessman from Indian origin, based in the 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.Rilcoin is about to be launched in Mid of 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.

Author's Bio: 

The Rilcoin is an open source global payment system, which is decentralized like any other cryptocurrency but special on the basis of it’s hybrid nature.