- April 3, 2019
- Posted by: admin
- Category: Uncategorized
- To allow anyone in the world access to sound money
- To preserve value
- To create tokens that are be convertible on demand to fiat, silver or gold.
- Open Source
- Could be used to create other commodity backed tokens
- Support for Fiat backed and Precious Metals backed stable coins
- AML / KYC Compliant
Problems with Bitcoin, Ethereum and similar cryptocurrencies:
- Unable to be used as unit of account and medium of exchange because of huge price swings. Stability of price is important when buying or selling goods or services and when sending or receiving payments.
Problems with moving money in USA
- Sometimes a $35 Fee for to send wire transfers and even $20 to receive.
- ACH lower cost but slower
- Very high fees for sending money overseas.
- Check clearing very slow
Problems With Gold & Silver
Hard to trade over internet.
Positive Attributes of Gold and Silver
- Valuable for thousands of years
- Can’t print more