07 Feb Bloq plans innovative new cryptocurrency Metronome
Matthew Roszak, Chairman and Co-founder of blockchain technology company Bloq, says it is launching a new cryptocurrency called Metronome.
Roszak says blockchain has been in development for almost ten years and cryptocurrency innovations and features continue to develop rapidly, creating an opportunity for a new, more-developed cryptocurrency.
Creating a new cryptocurrency
In a Yahoo! Finance interview, he says Bloq took a blank sheet of paper and set out to develop the company’s new cryptocurrency called Metronome with all the new features a modern cryptocurrency should have.
When it comes to blockchain’s role in business, Roszak says:
“I think the genie is out of the bottle. There are two parts of the equation where blockchain technology is going to help financial services companies innovate and save money in the hundreds of billions of dollar-plus-range, and I think that’s low by a factor of ten or 20X.”
He said another line of thinking is that blockchain technology is just like “training wheels or a step stone” on the way to more complex decentralized tokenized networks.
Roszak says a healthy cryptocurrency has three totem pole layers:
-a store of value
-and, ultimately, machine-to-machine mechanisms where machines are paying each other.
“Metronome took a lot of payment features like 15-second confirmation time, mass pay, subscription pay and for the first time ever, you can self-govern your cryptocurrency,” Roszak says.
“Every blockchain out there is a railroad. So ethereum, classic, Quantum, etc. Here, you can take your boxcar and move it to another railroad. Which is a novel thing, it’s like a self-governance component.”
Metronome is the first cross-chain cryptocurrency allowing users to seamlessly transfer their tokens from one blockchain to another using cutting-edge import/export functions.
The anti-ICO ICO
Roszak says Metronome’s ICO is the furthest thing away from a typical ICO.
“Proceeds from the sale of Metronome tokens go into a smart contract that ultimately provides liquidity and price support. It’s kind of engineered to provide kindling for a new cryptocurrency.”
Future of cryptocurrency?
Many different parts of society now have cryptocurrency on their whiteboards from individual investors and institutional investors to pension funds start to plan a cryptocurrency investment strategy.
The longer-term vision is decentralized currencies and non-centrical money, owning your own identity and digital cooperatives, Roszak adds.
“If we have a token representing our participation in some of these networks, and we share that value, that’s a game changer. And that will change money, identity and every layer of the Internet.”
Metronome will launch its ICO in 30 days and you can read the Owner’s Manual (whitepaper) here.