The blockchain is gradually changing every part of our regular lives by introducing new technology that is completely disrupting traditional operations of industries. Several sectors are being revolutionized, from finance to health to gaming to social networking, the economy has been long overdue for disruption and if anything can be decentralized, it will be decentralized. Ringgcoin is a unique project that is introducing morality and ethics to the blockchain.
What is Ringgcoin – RINGG?
RinggCoin in an ERC-20 token based on the Ethereum network. It is the world’s first cryptocurrency for the socially responsible and upright human begins who have a love for humanity and hold a moral and spiritual obligation to see to it that their financial transactions are legally and ethically sound. RinggCoin, available under the code RINGG is an acronym for; R – respected, I – intelligent, N – natural, G – goodness, and G – generous.
According to their whitepaper, certain coins are part of the ‘dark web’ and morally upright individuals who may want to invest in cryptocurrencies may be deterred by the stigmatization of coins in the dark web and as such, miss out on lucrative cryptocurrency investments. So, while Ringgcoin does not directly solve the problem of corruption and immorality in the crypto community and the world at large, it provides a digital coin through which these high minded and principled individuals can transact with, without any involvement with the nefarious coins.
Token holders of RINGG are ethically bound to use the coins only in noble and honest activities and transactions. These proper activities could include; money or value transfer, promoting financial inclusion and gifting as to friends and family. Prohibited and unethical activities which the coin must under no circumstances be used for include but are not limited to; purchase of illicit drugs and alcohol, gambling, payment for prostitution, exchange of pornography and pornographic materials etc. Basically, every token holder of RINGG must refrain from using the coins in any immoral and criminal activity.
About The Ringgcoin ICO
The developers of the coin are offering RINGG in a token sale to raise funds that will go towards the development and expansion of the project. The coins are being offered for sale rather than being freely distributed to avoid dishonest individuals who may try to hoard the coins. A total supply of 78.6 million RINGG where created with 90% being 70.24 million RINGG offered for sale in the ICO, the remaining 10% of the coins will be held by the team for future use and expenses. The tokens will be sold at the rate of 1 RINGG to 0.0002 ETH for early adopters in the first coin release with a 50% bonus on tokens. In the second coin release, 1 RINGG will go for 0.0004 ETH, there is no bonus allocation in this round.
The token sale will be held in two stages; the first coin release and the second coin release. The first stage began on the 1st of March 2018 and will operate for two months till the 1st of May 2018. The second coin release ICO will begin immediately afterward from the 1st of May 2018 till June 29th, 2018. Each stage will last for 60 days and altogether, the ICO will last for a period of 120 days. The hard cap and soft cap are fixed at 15 million USD and 5 million USD respectively. RINGG is currently available for purchase on the Ether Delta cryptocurrency exchange. According to the Ringgcoin website, 8.36 million coins have been distributed so far. However, it is unclear if this is the 10% reserved for the team or coins actually distributed in the token sale.
Ringgcoin provides the solution to the moral dilemma of individuals who want to engage in cryptocurrency transactions using an ethical and moral coin. A revolution begins with one person and choosing to transact with Ringgcoin may be the first step towards the long-awaited global transformation. The system hints at a lot of exciting possibilities including a Ringgcoin mobile app built on the blockchain technology. For more information on Ringgcoin, visit the website here.