A protocol for creating and running digital token pools
According to LinkedIn, RigoBlock is developing a protocol for creating and running digital token pools. Rigoblock will issue digital tokens to transfer values on public blockchains, it will also act as a representation of real-world assets. According to Crunchbase, the company is building a protocol for decentralized asset management, which allows users and companies to transfer and exchange values on a transparent basis using the blockchain technology. The company believes that its solution as an open protocol will help token management to be universally accessible. Rigoblock also believes that a standard for organizing or managing digital tokens as a new representative of value is important and will become one of the fundamentals of the future economy.
According to its website, Rigoblock uses the PoP algorithm. PoP or Proof-of-Performance is an algorithm that rewards the token pool operators based on the value and the performance of their pools. According to Rigoblock, the operators are rewarded in GRG, Rigoblock’s native token that is developed using the ERC20 Ethereum token standard. This incentive system will allow token pools to be operated without direct fee charges to its users. The company also claims that it is required to aligns the interests of the different stakeholders.
Rigoblock believes in various principles, that translate to how they’re running the business. Some of them are reliability (making sure that the system is robust enough to handle the demand), accessibility (making sure that the barriers to entry into asset management are low, without unnecessary requirements), transparency (providing a transparent and decentralized framework), and more. It also translates to the creation of the GRG token, which is also compliant with Swiss government regulatory requirements.