We have been very active in the community, explaining, talking, asking, listening. Specially listening and adapting our project to the problems and concerns of our people. Channels like Telegram, BitcoinTalk, Reddit, Twitter… allow us to create a connection and an actual conversation with all of you.

In this opportunity, we want to share the answers to some of the key questions we havereceivedso far, hoping to offer a clearer perspective on what GLOBCOIN is bringing to the world.

What’s the difference between the GLOBCOIN platform and simple asset management, except for blockchain technology?

It is true that currency baskets could theoretically be traded by asset management companies, but the analogy ends there.

There is no product proposed by asset management industry that offers the possibility of a currency that mirrors the world economy. Why? because Foreign Exchange market structure and pricing is adapted for large amounts.

If you can name just one product from an asset management doing this, and we’ll send you a huge box of swiss chocolate! We used to run a currency management company within one of the largest asset management structure (A 20B USD business) and we knew that offering such a product for individuals would be just impossible.

That’s where Blockchain and tokenization comes in. We are able to make it digital and for very small amounts while it is still liquid, cheap, easily accessible and safe.

Beyond the price and the amounts, these are some of the benefits of GLOBCOIN compared to asset management:

- The tokens of GLOBCOIN will be listed on exchanges 24/24–7/7. Try to buy or sell a Fund or an ETF on a Sunday afternoon or even at 8.00 pm on weekdays!

- Regulations : Asset management funds have very restrictive regulations that vary from one country to the other ! this also increases costs. Think of Brexit and that famous passport…

- Asset managers mostly offer equity or debt related instruments. Some hedge funds did offer pure FX products but with a speculative objective that we do not share.

Central Banks are creating this kind of baskets to manage their reserves, but only for big amounts.

Isn’t it quite disruptive to offer the “man of the street” to behave like a Central Bank at a tiny cost ?

Is Globcoin like Mutual Funds? The token / coin is a basket of currencies managed by a fund manager?

No, GLOBCOIN is not like a Mutual Fund. GLOBCOIN is a platform to launch currency baskets that fit to specific communities. There is no fund manager involved. The baskets are created by a team of foreign exchange specialists based on their experience and the request from customers .

Who is taking care of the assets backing Globcoin?

A central authority. We are currently in discussions with several prime institutions to do that for us. We want the process to be transparent and trustful.

Will you later on work with third parties or do you want to offer your services all on your own? If yes, are there already any partners on board?

We are currently working with Blockchain Partner on some technical aspects of the Globcoin crypto platform such as smart contracts and their audit (both internal and external). They have been on board since September 2017. The rest of the work is internal. We will have an external provider to hold the currencies backing our first basket in Q1 2018.

What are the advantages of GLOBCOIN in order to succeed over already established competitors?

We have a unique business model and the best background. Our focus is to offer innovative solutions based on currency baskets, something that we have been doing that for many years for large clients and that we can now offer to everyone thanks to the Blockchain. Our first product, a unique multi-currency card, has been up and running since 18 months.

Got any questions? We’re listening.

Written by: Eva — GLOBCOIN Community Manager