Bloq has announced plans to launch a new digital currency. CEO Jeff Garzik does not expect universal enthusiasm from industry insiders. At an event in Las Vegas, the startup introduced the new cryptocurrency, named Metronome. The company aims to provide users with a token that can be exchanged with other digital currencies.
The CEO said this new cryptocurrency will be tradable with virtually any other digital asset. As for how it fits into Bloq’s business model, which currently focuses on enterprise services, Garzik and co-founder Matt Roszak stated they believe the project aligns with the company’s broader vision.
Features of Metronome
One of the main selling points of this digital currency is its accessibility. In short, Metronome is built around four types of smart contracts that govern token distribution, supply regulation, liquidity management, and transfers between accounts.
This automation is intended to encourage investors who have not yet committed funds to cryptocurrencies, the CEO said.
10 million MTN available at launch
The company will offer 10 million Metronome tokens at launch: 8 million will be available to the public and 2 million reserved for the company. Garzik views Metronome as an innovation in a market where many cryptocurrencies face challenges.
Bloq plans to accelerate the token’s rollout and aims to launch Metronome in the first week of December. According to Roszak, the Metronome code has undergone three audits since its creation. The company’s goal is to open access to this technology to a wider range of investors.