Earthmeta Earthmeta

CryptoBank Gets Ahead of Bank of Russia and Creates Cryptoruble

April 26th, 2018 at 7:22 pm UTC · 2 min read

While the Central Bank of Russian Federation progresses in realization of the idea to create a national cryptocurrency, the CryptoBank development team has made this idea a reality. The CryptoBank blockchain startup has created a Cryptoruble – a decentralized, non-volatile cryptocurrency linked to the Russian ruble.

Besides Cryptoruble, the project has also presented such cryptocurrencies as Cryptodollar, Cryptoeuro, and Cryptoyuan. Each cryptocurrency is processed in a separate blockchain and has the fixed value linked to the similar fiat currency.

So, 1 Cryptoruble = 1 Russian ruble, 1 Cryptodollar = 1 US dollar, 1 Cryptoevro = 1 Euro, 1 Cryptoyuan = 1 Chinese yuan (CBD = USD, CBE = EUR, CBR = RUB, CBY = CNY). At the moment, you can buy or sell these cryptocurrencies on the platform.

To be able to provide appropriate stability of the price, the project uses a method of rate support in reserve storages and diversifies funds. At the same time, CryptoBank does not need to store reserves in traditional financial institutions.

Unlike the fiat currencies that are subject to regulation by the central authorities of the country in which they issued, the CryptoBank cryptocurrency is decentralized, and therefore is not subject to geopolitical and age restrictions.

CryptoBank’s tokens have a number of advantages not only over fiat, but also such cryptocurrencies as Bitcoin, Ethereum, etc. They are convenient not only for paying for goods and services in everyday life, but also in case of need to preserve the assets value.

Today cryptocurrencies have considerable volatility and present themselves the speculative tool in the market. Owners of CryptoBank tokens will be able to take all blockchain technology advantages without experiencing volatility, thanks to the anti-inflationary algorithm applied in algorithms of mining CryptoBank.

It is necessary in order that participants of the market may interact in their usual environments and CryptoBank is ready to help them in this.