Golden Currency

Breakthrough New Issuance of Gold Money For Non-Cash Transactions

ABOUT GOLDEN CURRENCY

Project Goals The main aim of the project is to establish a new Golden currency monetary system, which includes the following elements: a. Gold coins. Issuance of the first fully-functioning global private currency, both cash and non-cash, 100% backed by gold. б. Infrastructure gold coin. Establishment and development of infrastructure for new currency operations, ensuring efficient and convenient utilization and maximizing their use. Key elements of infrastructure are: global banking network with banking infrastructure (Golden Bank); exchange of crypto-fiat сurrency integrated with banking network (Golden Exchange); gold deposit. 1.2. Use of Blockchain Ten years ago the establishment of entities and systems that can be completely transparent and almost independent of certain people is difficult. And consequently the development of independent, reliable independent currency, which can provide reliability and stability, a relatively low risk to its owner and be competitive compared to the national currency, is almost impossible. The discovery and use of Blockchain allows you to deal with relevant issues and it can be an important competitive advantage for the currency that uses it. The theoretical basis for the development of private currency was developed in the 1970s (see, for example, Friedrich A. Hayek, Private Money, 1976), but only now, thanks to blockchain, it is possible to establish an effective personal currency, and the Golden Currency is the first such project. the relatively low risk to its owner and being competitive compared to the national currency, is almost impossible. The discovery and use of Blockchain allows you to deal with relevant issues and it can be an important competitive advantage for the currency that uses it. The theoretical basis for the development of private currency was developed in the 1970s (see, for example, Friedrich A. Hayek, Private Money, 1976), but only now, thanks to blockchain, it is possible to establish an effective personal currency, and the Golden Currency is the first such project. the relatively low risk to its owner and being competitive compared to the national currency, is almost impossible. The discovery and use of Blockchain allows you to deal with relevant issues and it can be an important competitive advantage for the currency that uses it. The theoretical basis for the development of private currency was developed in the 1970s (see, for example, Friedrich A. Hayek, Private Money, 1976), but only now, thanks to blockchain, it is possible to establish an effective personal currency, and the Golden Currency is the first such project.

Blockchain will be used in all key elements of the new system: the management and control of gold reserves – as an essential element of reliability and transparency, system publicity; banking network – for cross border payments, transfers, currency conversion – to ensure speed, reliability, universality, and for integration with currency exchange; currency exchange – for currency and crypto currency exchanges to ensure transaction speed and reliability In general, blockchain technology will be aimed at ensuring decentralization, control, providing links between fiat and crypto currency and opportunities for banking and currency transactions, as soon as possible , at a minimal cost to the user. 1.3. Prerequisites for project implementation 1.3.1. Lack of money reliably 1.3.1.1. The volatility of crypto and fiat money Bitcoin and many other crypto currencies, showing volatility, sometimes reaching 30% or more even for one day – do not currently provide a favorable opportunity to effectively use it as money, for example, as a circulatory medium. Currently, they are more of a speculative object of investment, which shows high retrospective profitability, and that can show high profitability in the future. The dynamics of bitcoin values ​​(January 2017-January 2018) As for fiat national money – for many countries there are high inflation problems and rapid national currency depreciation. There are at least 56 examples of so-called hyperinflation, in which the depreciation of national currency occurs at a rate exceeding 50% per month. There is also a much larger number of cases and countries,

GOLDEN CURRENCY INFRASTRUCTURE

Currency issuance The initial currency issuance will follow the ICO results on the basis of the first Gold bank. Part of the prescribed funds collected during the ICO (see below, in the ICO section) will be used to buy gold and make paper money. Prior to publication, a publishing memorandum will be established and will correct all details of the issuance, including minimum volume and Gold exchange procedure for gold. In addition, the memorandum will detail the initial Golden reservations, wherever the issuance provides such an opportunity. The printed Gold Notes will be distributed through Golden banks, where users can open accounts in Golden, exchange their money for Gold, withdraw Gold from ATMs and bank cash tables, or receive Gold into their bank account after Gold issuance, if the terms allow early application . As the amount of paper money declines, additional emissions will begin in the bank, each of which will be accompanied by an initial public emission memorandum. Emissions will be made in jurisdictions that allow the issuance of personal money. The amount of gold issued and their compliance with the amount of gold in storage will be subject to regular audits, whose results will be publicly publicized. 3.2. The golden support of any Gold currency will be supported by a fixed amount of gold. Initially it was assumed that every Gold would be backed by gold that the initial equivalence would be at least $ 1.00 US (about 0.02 g gold) (more precisely, the gold volume in one Gold will be determined at the time of publication, can be changed to the first problem moment, but will remain unchanged in the future). Details on gold and denominational support will be presented before the initial issuance, in an emissions memorandum.

for Gold, withdraw Gold from ATMs and bank cash tables, or receive Gold into their bank account after the issuance of Gold, if the terms allow the initial application. As the amount of paper money declines, additional emissions will begin in the bank, each of which will be accompanied by an initial public emission memorandum. Emissions will be made in jurisdictions that allow the issuance of personal money. The amount of gold issued and their compliance with the amount of gold in storage will be subject to regular audits, whose results will be publicly publicized. 3.2. The golden support of any Gold currency will be supported by a fixed amount of gold. At first it was assumed that any Gold would be backed by gold whose initial equivalence would be at least $ 1.00 US (about 0. 02 g gold) (more precisely, the volume of gold in one Gold will be determined at the time of publication, can be changed to the moment of the first problem, but will remain unchanged in the future). Details on gold and denominational support will be presented before the initial issuance, in an emissions memorandum.

For more information you can visit the following website: WEBSITE : https://goldencurrency.world/ WHITEPAPER : https://goldencurrency.world/white_paper_eng.pdf TELEGRAM: https://t.me/joinchat/GljMN0cgk-_pKAc4mDBPmQ TWITTER: https://twitter.com/goldencurrency/ FACEBOOK: https://www.facebook.com/GoldenCurrency.world/ profile URL: https://bitcointalk.org/index.php?action=profile;u=1624619 Author: kolbak pute