How RUSH is building asset-backed tokens
Currency backed with assets is not a new concept. The United States dollar was backed by gold until 1971 when the gold standard was abandoned. The concept of asset-backed currencies is being replicated in the blockchain world through the concept of tokenization. Tokenization means that companies can divide assets digitally into different parts, with the ownership unit recorded on the blockchain. RUSH is a new company that is exploring tokenization in a way that has never been done.
Tokenization and trust
2017 was the year of the initial coin offerings (ICO) boom, so many companies offered asset back tokens, especially for precious metals like Gold or Silver or alternative assets like artworks. The problem with many of those companies is that they offered nothing more than beautiful whitepapers and lines of codes there was no time spent on executing those projects. When investors want to invest in tokenization, they want to be sure that assets actually back the tokens. RUSH tokens are trusted; the team has worked more in executing the project than on marketing. One Rush token is equivalent to one cubic meter of aggregate quarries.
RUSH tokens and aggregate quarries
Most tokenization projects are tied to precious metal like silver. The RUSH team has decided to explore a new asset to back their tokens asset is known as aggregate quarries. The team chose aggregate quarries to back their tokens because aggregate quarries have great economic importance. The aggregate quarries contribute mainly to the economy of large and medium enterprises. Aggregate quarries are used in the construction of railways, waterways, roads, bridges, etc. The RUSH team chose aggregate quarries because they will continue to be used, and the value will increase with usage. You can read more on the importance of aggregate quarries on their whitepaper.
RUSH enable fractional ownership
The importance of tokenization is that fractional ownership is enabled. If a RUSH token buyer owns 0.001 RUSH (RUC), it means that he owns 0.001 aggregate quarries; this might not be possible physically. Still, the power of division in blockchain makes the division of ownership possible. It enables the RUSH tokens to be used as a currency, and it is also a divisible physical asset. The advantage is that you don’t need to have one aggregate quarries to own the assets. You can have a small fraction of 1 aggregate quarries, and your tokens can be easily transferred to another person while still maintaining it’s physical value.
RUSH tokens double value
Investors are more interested in the tokenized project because they are tied to physical value. The prices of cryptocurrencies are very volatile. We have seen a cryptocurrency lose 80% of its value overnight. Investors are looking for stability. RUSH tokens offer stability, that’s is why the RUSH token is suitable for cross-border settlements. The value of aggregate quarries means that investors see the value attached to the tokens beyond the cryptocurrency market’s volatility. RUSH tokens can also be used for speculation by trading it with other cryptocurrencies. The RUSH token is available for trading on the ProBit exchange.
RUSH tokens and physical assets
Investors love to invest their assets in projects that can be trusted. The team understands why they ensure that the tokens are always available for exchange with real-life physical assets. They can monitor their investment in a dashboard on the RUSH website. They provide that the aggregate quarries are always available if you want to exchange your tokens for aggregate quarries. The team ensures that they are not building a snake oil project. The project is always asset-backed as promised by the team.
How to buy RUSH tokens
Investors can purchase RUSH tokens on the RUSH website. The tokens are also available for purchase on ProBit exchange.
Conclusion
Asset-backed tokens are great, but implementing a truly asset-backed tokens requires a transparent and dedicated team. Assets should be available to be exchanged for the physical goods that back them. The RUSH team is proving transparent tokenized assets that can be exchanged for physical goods.
