Prof Larry White and George Selgin on Stablecoins

Initial End-to-End Test of Remittance System Completed

Our team successfully completed the first RockStable remittance transaction in history. ROKs, our StableCoin, was used in sending the dollar funds from the United States and a corresponding amount was received by one of our colleagues George in the Philippines (please see photos). George is in charge of our social media channels including Facebook, Linkedin, Telegram, Twitter and Reddit. He now makes history as the first person to receive real ROKS in a start-to-finish transaction.

The funds were received through Palawan Express Padala. They have over 3,000 branches located in every province in the country.

This is truly a significant milestone for the company ! It demonstrates that the system works. The next step is to move from a testing environment to working with everyday customers.

Onwards RockStable !

What is the Recipient CryptoAddress?

Your recipient in the destination country has to install the ROKS Wallet onto their smart phone device.

Installing the ROKS Wallet is straightforward.

Once installed and launched, the recipient can choose to create a new wallet address and private key. The app then asks the recipient user to save the 12-word mnemonic phrase. This is very important: do not save this 12-word mnemonic in the smart phone. Instead, copy the words on a piece of paper, for safekeeping. (It can also be saved in a USB thumb drive or removable memory card.) The app makes sure that the 12-word mnemonic is saved / copied by asking the user to type it in.

When setup is complete, the main screen comes up showing the SOL and ROKS balances. Tapping the ROKS bar displays the ROKS screen.

In the ROKS screen, tap the "Receive" button. In the "Wallet Address" screen, the cryptic address appears; to copy this address simply tap "Copy the Address". Finally, paste this address in a chat in Messenger (or some other app, like Facebook private message) to send to the sender.