Realcoin Works to Legitimize Digital Currencies with Cash Reserve

July 11, 2024 by

Realcoin, a startup based in Santa Monica, Calif., is working to develop a digital currency backed by a cash reserve that will allow consumers to execute contracts and other purchases without having to employ third party services to protect the currency’s integrity.

Utilizing Bitcoin 2.0 technology, Realcoin plans to take digitized information related to commercial contracts and asset purchases, among other things, and label the particular coins used in the transaction in the Bitcoin blockchain. This labeling will provide authentication and build consumer confidence in the transaction. Further, Realcoins will be added and removed from circulation based on the number of U.S. dollars added and removed.

Realcoin’s legal team is currently working to obtain money transmitter licenses from various U.S. states, and hopes to expand its offerings to digital currencies backed by currencies other than the U.S. dollar.

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