Showing posts with label gold. Show all posts
Showing posts with label gold. Show all posts

Sunday, September 2, 2018

GID Coin Backed with Polished Diamonds and Gold Bullions

  • The global market of rough diamonds in world counts more that 150 million of carats, which cost in total more than 180 billion of US dollars yearly and it’s still growing.
  • The gold market is inherently global and gold is traded continuously throughout all time zones. The most traditional way of investing in gold is by buying bullion gold bars.

Gold and Diamond Features

  • Natural Resources
  • Limited
  • Mined
  • Owned by Big Companies.
  • Very Expensive

GID Goal

GID aims to create an international currency that:
  1. Covered by two most valuable precious goods in the world (Gold and Diamonds).
  2. Powered and secured by Blockchain.

Ways of Work

There are two ways of work for the company:
  1. Purchase the final product (from producers & miners)
  2. Arrange the whole proces (start the process from the beginning)
The economy between purchasing of final products and carrying out of all the way of raw materials to the complete product is enormous up to 5-10 times.
The major difference is time.
  • Purchasing of final product takes 1-14 days.
  • The lifetime of raw products (rough diamonds and golden dust) from mine to safehouse as certified product takes 60-90 days.
GID plans to use the funds as:
  • 30% goes for purchasing the final product.
  • 70% goes for the production.
Company has enough experience and connections in African countries to start purchasing and mining without risks.

Using the Blockchain

The blockchain is a tamper-proof, encrypted database secured by cryptography that acts as an accounting ledger keeping track of digital assets. Instead of being maintained by a single server like traditional databases, blockchains are decentralized and maintained by a distributed network of computers around the world.
GID, like all blockchain technologies, uses an incentive-driven model of security. Consensus is based on choosing the block with the highest total difficulty. Miners produce blocks which the others check for validity. Among other well-formedness criteria, a block is only valid if it contains proof of work (PoW) of a given difficulty.
  • A miner receives a GID commission from each processed block. No Coins are emitted once the block is processed.
  • All the gas consumed by the execution of all the transactions in the block submitted by the winning miner is paid by the senders of each transaction.
  • You can use your computer’s central processing unit (CPU) to mine GID or arrange GPU mining.

Roadmap

Fund Allocation

Most of expenses will be as following:
• General purchases of raw or final assets
• Marketing and PR
• Business Development
• Legal expenses and taxes
• Exhibitions
• Safehouse for goods – Payments for storage
• Ethereum costs at the first stages

Finally

GID Team are professionals with 8 years of experience in diamond business and 5 years in golden business. Have broad connections in Africa, Russia and Canada. Working very close with miners of gold and rough diamonds (governmental and private) have connections with Belgian and Israel cutters of diamonds and also have connections with gold refineries in Austria, UAE and Andorra.
Author of article:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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Thursday, July 5, 2018

Golden Establish Monetary System of the New Golden currency

«If we want free enterprise and a market economy to survive, we have no choice but to replace the governmental currency monopoly and national currency systems by free competition.» Friedrich Hayek, Nobel Prize in Economics winner

What is Golden Currency

Golden Currency is a project of the first fully functional private currency, convenient and efficient infrastructure with utilization of modern technologies, including blockchain. It is a fully functional currency, but with additional advantages.
you can easily exchange the crypto-currency for Golden, or store your Golden in electronic form, if it is more convenient for you.
Golden will exist in the form of both cash and non-cash money, providing the opportunity to implement the full range of possible money transactions.

Golden Currency System

The main goal of the project is to establish monetary system of the new Golden currency, which includes the following elements:
а) Golden currency: The first fully functional global private currency issuance, both cash and non-cash, 100% backed by gold.
b) Golden currency infrastructure: Establishment and development of infrastructure for new currency operation, ensuring its efficient and convenient utilization and maximizing its use.
The key elements of the infrastructure are:
• global banking network with banking infrastructure (Golden Bank);
• crypto-fiat сurrency exchange integrated with the banking network (Golden Exchange);
• gold depository.

The Use of Blockchain

Blockchain invention and use allows you to deal with the relevant issues and it can become an important competitive advantage for the currency that utilizes it.
Blockchain is going to be used in all key elements of the new system:
management and control of gold reserves - as an important element of reliability and transparency, publicity of the system;
• Banking network - for cross-border payments, transfers, currency conversions - to ensure speed, reliability, • • Universality, as well as for integration with the currency exchange;
• Currency exchange – for fiat and crypto-currency exchange to ensure the speed and reliability of transactions

Advantages of the Token

• Presence in cash (paper, anonymous) and non-cash form
• Independence from the government, political or economic situation in any country, but at the same time the complete legality of its functioning
• 100% backed by gold, the storage and management of which is
carried out independently of the issuer; the owners of Golden have a guaranteed opportunity to get gold in exchange for Golden
• Use of modern blockchain technologies for currency infrastructure (starting from ensuring the independent and reliable storage of gold, and ending with the implementation of payments and currency onversion)
• Convenient, fast and cheap conversion into any world fiat currencies and crypto-currencies (a link between fiat and crypto-currencies)
• Familiar modern money infrastructure - ATMs, bank cards, POSterminals, online banking, mobile applications, etc.

Forms of payments

1) Cash
Cash will be issued in the form of plastic (polymer) banknotes printed in one of the world's factories that provide printing of fiat money services for the world's largest economies.
2) Non-cash money
It is planned to create a worldwide branch banking network. Users will be able to open accounts with Golden banks, load these accounts, get bank cards linked to these accounts, withdraw money from them, convert between accounts in different currencies, including national, pay with them in shops, make transfers and transactions via the Internet, and conduct other ordinary banking operations in all countries of the world.
3) Crypto-currency Link with fiat money
Golden Exchange will be registered as a fully legal crypto exchange in which user will be able to convert fiat and crypto-currency.

Finally

The entire infrastructure of Golden will provide its user with such conditions that it will not matter in which currency to keep his funds in terms of functionality. And if so, taking into account the advantages of the Golden currency, it will be favourably for the user to keep money in Golden, which is not subject to national risks and inflation.
The increase of the currency use, and therefore, the maximization of its turnover and the monetization of the project, will take place on the basis of ensuring and developing its competitive advantages.
Author of article:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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