The Red Box Dapp (RBD) is one of several cryptocurrencies trying to monetize digital robots.
To explain, the basis of Red Box is smart contracts or decentralized applications (Dapps). A Dapp or smart contract is a digital robot that operates in the blockchain.
I think Dapps are the future of the blockchain because you can program a Dapp to execute a specific task. For instance, the Dapp inside a “stablecoin” makes payment in fiat currency when you spend the stablecoin.
To elaborate, the pays in US dollars. Moreover, an insurance contract could automatically pay claims. Or an annuity smart contract could send an annuitant a payment each month.
The plan at Red Box is to create ecosystems around RBD. The RBD will provide the funds and smart contracts that operate the ecosystems.
The Red Box is a platform for the building of such ecosystems and smart contracts. The Red Box team believes smart contracts will be the basis of future ecosystems.
The Red Box team believes smart contracts will operate many physical machines and robots in the future. In fact, the Red Box white paper claims smart contracts will be the basis of an Industrial Revolution 4.0.*
The hope at Red Box is to create a blockchain platform that could integrate financial markets and the Internet of Things (IoT). I think the final goal could be a financial ecosystem in which a business could pay industrial machines in RBD for finished products.
Other uses could be point of sale (PoS) terminals, automatic teller machines (ATMs), and vending machines that accept or pay in RBD or other cryptocurrencies. One advantage of this system could be vending machines, cash registers, and ATMs that accept stablecoins.
Note: I cannot find a connection between the Red Box Dapp Token (RBT) and Redbox Automated Retail LLC. Red Box Automated Retail LLC is an American company that operates DVD rental machines found at American supermarkets. People under 25 can Google the term DVD.
Red Box claims there is a total supply of 600 million RBD tokens. Red Box claims Smart Contracts will operate 300 million of the RBD tokens.
In addition, Red Box plans to sell 150 million of the RBD tokens to create initial funds and a Fintech ecosystem. Finally, Red Box will trade 150 million RBD tokens on international exchanges.
CoinMarketCap estimates the Red Box Dapp Token (RBD) had a 14.2₵ Coin Price and a $19,683.74 24-Hour Market Volume on 7 August 2020. Unfortunately, Coinmarket Cap offers no Market Capitalization for the Red Box Dapp Token.
Therefore, I think the Red Box Dapp Token has only theoretical value at this point. In fact, I do not see any descriptions or uses of the Red Box Dapp Token. I think investors need to avoid the Red Box Dapp Token because it only has a theoretical value at this point.