Stable Coin Issuance Proposal Approved
Hello, welcome to RIZON!
We are proud to announce that the validators vote for the issuance of RIZON Stablecoin was completed on December 20, 2022, and its issuance will take place under the name RCHF (Franc) as a collateralized Stablecoin legal tender. We will also begin preparing for REUR (euro currency) issuance.
With our RIZON Stablecoin issuance in mind, our team will do our best moving forward to expand RIZON’s ecosystem and diversify its business.
Hello, welcome to RIZON.
RIZON is a digital currency and asset hub. With the goal of developing our new ecosystem and realizing our vision, we signed an agreement with Detion, and through Detion’s ‘DM Plus’ service, we plan to expand the usage of stablecoins, such as paying tax refunds in RIZON stablecoins. Detion’s main objective is non-face-to-face global customer authentication and tax refund services for travelers. Detion is a company that develops services such as payment and tax refunds using its own authentication technology and is a provider of DM Plus authentication services to Lotte, Shilla, Hyundai Internet Duty-Free Shops, and T’way Air. Moreover, since 2020, they have been conducting a pilot tax refund system project with NTT DATA CCS, an affiliate of NTT which is Japan’s largest telecommunications company.
What is a tax refund?
Tax refund refers to a system that refunds the value-added tax on items that are not being used in the country once a certain amount or more has been purchased. In general, the tax refund procedure involves purchasing items at a tax refund membership store, presenting the receipt, passport, or a copy of the passport, and receiving a refund according to the VAT rate determined for each country. VAT varies by country with an average rate between 10% and 20%.
Currently, many travelers forego tax refunds due to the shortage of time and difficulty and complications in the procedure where they are required to prepare a proof of receipt, document fill-out, and submission. RIZON simplifies the procedure and allows tax refunds to be made in RIZON stablecoins, providing users with the convenience of tax refund procedures and purchasing power through stablecoins. This will allow us to increase the stablecoins’ utility and value.
RIZON Blockchain is a digital currency and asset hub that provides a platform for fiat currency around the world so they can be securely issued and enable businesses to interoperate. RIZON Blockchain will enable interoperability between sovereign blockchain networks and allow these networks to utilize a vast pool of liquidity, seeing that it serves the business needs of individual projects. RIZON Blockchain has a strong network-based background and can boost the inflow of participants into the ecosystem and help with diversifying the businesses.
This is not meant to serve as financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the lossof all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.
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