What is Rupiah Token?
Rupiah Token (IDRT/IDRTB) is the first Ethereum-based Token (ERC-20) in which its price is intended to mimic the value of Indonesian Rupiah. As an ERC-20 token built on Ethereum, IDRT inherits the speed, security, transparency, and other desirable characteristics of the Ethereum Blockchain.
What is a stablecoin?
"Stablecoin" is a class of crypto-assets with stable prices that resides on many blockchain networks. Normally, crypto-assets such as Bitcoin or Ethereum are not suitable as a unit of account due to their inherent price volatility. Stablecoin eliminates that volatility while keeping the desirable characteristics of blockchain network, such as allowing parties to transact globally anytime, anywhere.
Rupiah Token price is intended to mimic the value of Indonesian Rupiah. PT Rupiah Token Indonesia might collaborate with third-party market makers or independent traders in cryptocurrency exchanges to help ensure IDRT price mimics the Indonesian Rupiah.
What is IDRT and IDRTB?
Currently, Rupiah Token exists on two different blockchains:
- IDRT is an ERC-20 token that runs on Ethereum Blockchain
- IDRTB is a BEP-2 token that runs on Binance Chain
The availability of Rupiah Token on different blockchains help ensure more use cases are supported.
What can Rupiah Token be used for?
In the short run, the most immediate use cases for IDRT / IDRTB is for Indonesian crypto traders who want to trade in/out of cryptocurrencies using Rupiah.
In the long run, having Rupiah in the blockchain will enable more interesting use cases such as trusted borderless payments, remittances, and potentially new form of e-commerce.
Where can I learn more about IDRT / IDRTB?
For a quick overview about IDRT and IDRTB, check out our blog post below
- IDRT - https://medium.com/rupiahtoken-blog/rupiah-token-launches-idrt-the-first-rupiah-stablecoin-c536c8f8d9b0.
- IDRTB - https://medium.com/rupiahtoken-blog/rupiah-token-issuing-idrtb-stablecoin-on-binance-chain-db5ee1ae3beb
In addition, feel free to explore other articles in this FAQ / guide !