Sanzooz Finance (SZFT) is a brand new cryptocurrency that has just launched via a presale. With over 17,000 cryptocurrencies now in circulation, it can be difficult to identify which project to invest in. In this article, we will take a closer look at just what Sanzooz Finance is and if it's a good investment and how it could benefit you in the long run.
Sanzooz Finance is a decentralised asset issuance protocol built on the Ethereum (ETH) blockchain. Assets will be collateralised by the SZFT token on the Sanzoon blockchain, which facilitates the production of artificial assets when locked in a contract. This pooled collateral approach enables users to convert assets directly via the smart contract, without requiring intermediaries.
Artificial assets are a subset of tangible assets that lack intrinsic value. These items are derivatives of real-world assets with inherent value, such as stocks, commodities, or currencies.
Artificial assets were created to enable the trading of assets without physically relocating them or pre-selling products that have not yet been developed or made available for sale. The process of creating an artificial asset entails two or more parties agreeing on particular terms that result in the establishment of a contract based on a real-world commodity.
The whitepaper for Sanzooz has a well-structured roadmap in place. Some of the key points from it include:
This roadmap highlights key points that the team behind Sanzooz will be aiming to achieve over the coming year.
While we were able to answer the bulk of queries concerning Sanzooz Finance, we were unable to establish who developed the cryptocurrency and where they are based.
While we have studied the whitepaper and cannot find solutions to these questions, it is worth mentioning that other viable cryptocurrencies, like Bitcoin (BTC), are developed and maintained by anonymous individuals and teams.
Additionally, it is stated in the whitepaper that there are plans for Sanzooz Finance to become a decentralised autonomous organisation (DAO). This means that the bulk of decisions and the future of the project are determined by the tokens community.
One approach to contribute to a project's authenticity is to have it audited. This means that an outside business examines the smart contract's code. Certik is one such firm. Certik is the leading blockchain security company that Sanzooz Finance has entrusted with the security of the project's infrastructure. Certik's major objective is to certify and secure new digital currencies. On Certik's website, you may search for Sanzooz Finance and monitor the progress of the audit.
With any new cryptocurrency, there can be a certain amount of doubt about whether the project is trustworthy or not. After conducting research that included the project's website and whitepaper, we have concluded that it is highly unlikely that Sanzooz Finance is a scam or rug pull. The website is clear and concise and the whitepaper goes into great detail about the goals and objectives of the project. After the audit from Certik is complete, we expect Sanzooz Finance to be regarded as a legitimate cryptocurrency.
As with any investment, it is important to do your own research before parting with any of your money. The content of this article is intended to help inform and shouldn't be taken as financial advice.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.