The project involves Golden money issuance for cash and noncash transactions and its infrastructure establishment
global and local payments
Golden Currency is the first fully functional private currency for cash and non-cash payments (100% backed by gold), as well as a convenient modern infrastructure for its use based on blockchain. In other words, a legal, independent, modern analogue of existing Central Banks and their infrastructure is being created.
Golden - will be the only currency in the world, 100% backed by gold. In addition, it will be non-national, it will not depend on political or economic situation of any particular state, but will have a number of other advantages. Due to its reliability and all other advantages, Golden can become one of the leading world currencies.
Golden uses the advantages and technologies of crypto-currencies. Also, Golden infrastructure will provide a convenient link between crypto-currency and Golden. But at the same time, it is not a crypto currency and will have the same regulation as any fiat money.
Yes, sure. The ability to exchange Golden for gold, in our opinion, is one of the most important elements of ensuring the reliability of the currency. Therefore, special attention is paid to maximizing the reliability of gold storage and the possibility of getting gold bullions in exchange for Golden. Detailed terms for such an exchange will be presented in the emission memorandum of the currency, there may be restrictions on the minimum volume of gold to exchange, as well as the commission for exchange.
An important element of reliability is ensuring the most reliable and transparent storage of gold reserves. The following will be used to achieve it: a) diversification of gold storage, b) establishing an independent legal structure that ensures the storage, audit and management of the gold reserve, c) use of blockchain for gold control and management, d) attracting the world's largest auditors for systematic inventory audit, e) attracting the wide community to additionally control the gold reserves (for example, it is examined an opportunity of using the DAO, decentralized autonomous organization, and attracting investors and owners of Golden to an additional independent participation in such a control).
Individuals - will use Golden as money, as a means of payment and savings, with a passive income from the growth of the exchange value of gold. Investors - will use Golden as a hedging tool used to diversify the portfolio. Cryptotraders - will use Golden to fix their rates of crypto-assets, when the market is volatile, and to enter back the market later, with minimal commissions. E-commerce, legal entities and private individuals - will use Golden as a means of payment for goods and services, especially convenient for cross-border transactions. Contracts can be fixed in Golden, as an understandable, stable and reliable currency. To governments of emerging countries, unrecognized states - as a transitional, stable currency.
Blockchain is a key element of project decentralization, reliability and transparency. It will be used in many elements of the system, including: the cryptofiat currency exchange, the transactions of the Golden bank,the supervisory board representation of the token owners, control of the management and storage of gold reserves, etc.
In addition to the Golden currency issuance, the Golden Bank will be established with the infrastructure for receiving and transferring money (ATMs, POS terminals, bank cards, etc.), a platform for storing, managing and controlling the gold reserve, a pltform for exchanging currencies (cryptofiat currency exchange).
The main revenues of the project will come from issuance commission - seigniorage (as a percentage of each issued Golden), profit from infrastructure activities (banking, currency exchange, etc.)
The goal of the crowdfunding campaign is to finance the issuance of the world's first private currency Golden, to create the necessary infrastructure for its development on the market.
The project is initiated and developed by the experienced team in implementation and management of large projects. The founders are: Chekun Igor. Background. Head of the private equity fund with a portfolio of 1.1 billion USD and 16 years of experience in investment companies and projects, including the projects with participation of Microsoft, Adobe, etc. Voronov Lev. Background. Head of financial and industrial groups, 26 years of experience in managing large enterprises and infrastructure projects. In the past, the founder of a metal mining and automotive industry group.
After the end of the crowdfundingg campaign within 3 months it is planned to add tokens to the popular currency exchanges, where they can be sold at a market rate.
The founders of the project have chosen the way to establish a completely legal system, with legal and transparent currency. The issuance of private currencies was previously popular in many countries, for example, in the US. There are also current examples of private currencies. The currency will be issued in a jurisdiction that allows the legal issuance of such money.