Even if you are not familiar with it, you most likely have heard about Bitcoin, Ethereum, blockchain, and the likes. A technology that has disrupted many aspects of business, the government, and even our personal lives. While blockchain has gained popularity in the digital space it has not been translated into everyday ordinary life (or so we think). Maybe because it sounds too complicated and not many people understand it. Regardless of how much or little we know, what we initially thought of as just hype is in fact very real.
So what is it exactly?
Let’s keep it simple. Blockchain’s killer app Cryptocurrency is a medium of exchange value (just like ordinary money) that exists in the digital world and uses cryptography to make transactions secure. Basically, a public database that keeps a permanent record of digital transactions. There are many different types of cryptocurrency, like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Ethereum Classic to name a few. But simply knowing is not enough. For a lot of people, they want to be involved while others need to understand the intrinsic details behind it.
So how does it actually impact my life you may ask? Today, cryptocurrencies can be used for anything which requires transactions to be recorded in a secure manner. Maybe the most popular includes (among other basic functions):
- Digital currency
- Transfer money
- Make micropayments
- Lend people money
- Buy / Shop for things
- Trade for cash
We may or may not realize this but it is already used in ways we didn’t think possible since it first made the headlines. While there are billions of new people recorded to be online today, not everyone is still connected. And this has become a challenge to many startups that have sprung to offer their token as a medium of exchange. Enter RockStable… a crypto-based company in Wyoming, RockStable is composed of crypto experts. As the world goes digital, they envision a world where ROKS (a stable token) is used as a major medium of exchange for people’s daily purchases serving the unbanked. They hope to introduce ROKS and spread its usage as a medium of exchange in several countries (if not all), through the ROKS and ETH payment app called MainSale.
In a digital world where a lot have chosen to be a digital nomad working and living in a different country, just imagine how easy it would be to send money from where you are back to your family without paying huge transaction fees. It also eliminates the constraints of having to transact with banks/remittance companies and the pain to produce documents just to prove the legitimacy of your money (which so many ex-pats encounter due to intermediaries being careful not to inadvertently aid money laundering) before you can finally send money back home. And these are just a few of the things that can open up as we embrace the use of ROKS and ETH payment.
While it may be a fairly new technology and a very young platform, its potential and applications could be limitless and its impact is undeniable.
Learn how to do remittance with RockStable. It can save you a bunch!