LOS ANGELES, CA, April 12, 2018 (GLOBE NEWSWIRE) -- Reign Sapphire Corp. (OTCQB: RGNP) ("Reign" or “the Company"), a direct-to-consumer custom and branded jewelry company operating jewelry sales and jewelry technology today released the White Paper for Reign Coin, the Company’s sapphire-backed cryptocurrency.
Reign Coin’s Key Features:
Sapphire-backed
Reign Coins are unique in the sense that they are backed by calibrated Australian sapphires, processed under the supervision of the company and using the company’s ethical and sustainable supply chain.
Crypto-dividends (Airdrops)
As the network’s collectively owned assets earn interest and fees through means of transacting, that growth can be shared by all coin holders in the network. Each wallet can passively collect a portion of Reign Coin’s growth in the form of new Reign Coins, which can be air-dropped to each address.
Possible Reserve Solutions
We intend to have a reserve of Reign Coin acting as a reservoir. These Reign Coins would not be in public circulation. The reserve can slowly sell these coins and use those proceeds to further back Reign Coin by acquiring assets.
Growth by Transaction
Each Reign Coin transaction generates a transaction fee. A portion of the cumulative transaction fees can be reinvested into acquiring and processing additional Australian sapphires, the asset that is backing each Reign Coin. This should increase the base price as well as improve the solidity of each coin.
“We are delighted to release Reign Coin’s White Paper. We are confident that Reign Coin will complement our existing businesses and add long-term shareholder value,” states Reign CEO Joseph Segelman.
About Reign Sapphire Corp.:
Reign Brands operates through four key divisions: Reign Sapphires, which offers ethically produced, millennial-targeted sapphire jewelry; Coordinates Collection, a provider of custom jewelry inscribed with location coordinates to commemorate life's special moments; and Le Bloc, which offers classic customized jewelry and the athleisure jewelry brand ION Collection.
Reign expects to commence Reign Coin’s token presale in Q3 2018, subject to regulatory approval. The Company cannot guarantee that its ICO will be deemed effective, or that, due to the changing regulatory nature of ICO's in general, whether the ICO will actually take place.
For more information, visit www.ReignSC.com
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of Reign Sapphire Corporation ("Reign" or the "Company"). Forward-looking statements are based on the expectations, estimates, or projections of the Company's management as of the date of this press release. Although Reign's management believes these expectations, estimates, or projections to be reasonable as of the date of this presentation, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies, which could cause the Company's actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause Reign's actual results or performance to differ materially from the forward-looking statements include those set forth in the "Risk Factors" sections in the Company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Annual Report on Form 10-K for the year ended December 31, 2017 which is available for viewing on the SEC's EDGAR website. These forward-looking statements speak only as of the date of this press release and, except as required by law, Reign specifically disclaims any obligation to update these forward-looking statements, even if new information becomes available in the future.