A New Way of doing Rand
Digital Rand is South Africa’s first stablecoin, where 1 Digital Rand is algorithmically controlled to always equal to 1 South African Rand. Sending money, whether to a merchant or to a friend within South Africa has never been so transparent or simple. With just a click or scan of a QR code on your mobile or Ethereum-compatible wallet, your Digital Rand can be transfered 24/7, 365 days a year. Through decentralised blockchain technology, you are no longer limited to banking hours or their exorbitant fees. That’s right, depositing R1000 gives you 1000 DZAR tokens, with no monthly fees.
Digital Rand is fully collateralised through smart contracts, together with being redeemable and stable. Exchanging Digital Rand into other digital assets incurs a fee depending on which type of exchange smart-contract is used, and is dispersed to all Digital Rand liquidty providers. Digital Rand can be redeemed at any local exchange by exchanging your Digital Rand into another tradeable digital asset that has a Rand order-book.