What is Goldea Currency?
Goldea Currency is the name of the project of issuing and developing Goldea, 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.
What is the difference between Goldea and ordinary fiat money (traditional currency)?
Goldea currently is the only 100% backed by gold currency in the world. In addition, it is non-national, it does not depend on political or economic situation of any particular state, but has a number of other advantages. Due to its reliability and all other advantages, Goldea can become one of the leading world currencies.
What is the difference between Goldea and crypto currency?
Goldea uses the advantages and technologies of crypto-currencies. For example, blockchain form (ERC20 Ethereum) of Goldea is already available. Also, Goldea infrastructure will provide a convenient link between crypto-currencies and Goldea. But at the same time it is not a crypto currency. it is real money.
Can the Goldea owner exchange it for gold?
Yes, sure. The ability to exchange Goldea 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 Goldea. 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.
How can I check the availability of gold in vaults?
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 Goldea to an additional independent participation in such a control).
Where is it planned to use blockchain?
Blockchain is a key element of project decentralization, reliability and transparency. It will be used in many elements of the system, including: blockchain form of Goldea (currently ERC20 Ethereum), the cryptofiat currency exchange, the transactions of the Goldea bank, the supervisory board representation of the token owners, control of the management and storage of gold reserves, etc.
What will be established as the result of the project?
In addition to the Goldea currency issues and scaling of its use, the Goldea Bank is planned to 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 platform for exchanging currencies (cryptofiat currency exchange).
How does Goldea Currency plan to monetize?
The main revenues of the project will come from issue commission – seigniorage (as a percentage of each issued Goldea), profit from infrastructure activities (banking, currency exchange, etc.).
Who will use Goldea?
Individuals will use Goldea 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 Goldea as a hedging tool used to diversify the portfolio. Cryptotraders will use Goldea 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 Goldea as a means of payment for goods and services, especially convenient for cross-border transactions. Contracts can be fixed in Goldea, as an understandable, stable and reliable currency. To governments of emerging countries, unrecognized states it can become a transitional, stable currency.
New Financial Revolution
- Stable, reliable and transparent money. Gold-backed. Using blockchain. Perfect payment and investment tool
- Non-national and non-politicized. The emissions are done not by governments, and not in favour of any government
- Convenient money. Independent modern infrastructure* (ATMs, cards, etc.). Easy payments and conversion into crypto and fiat money
- Cash and electronic payments. Anonymity and universality of use (in any place of the world)
- Lack of asset-based money in the world. There is no country in the world that has 100% assets-based currency
- Lack of independent legal money. All currencies depend on political and economic situation of the country where they are issued
- Lack of inflation-free money. Examples of hyperinflation show the possibility of up to 98% per day inflation
- Crypto currencies do not fulfill the function of money. Due to volatility, lack of cash usage, legal status, etc
Goldea uses the Ethereum Blockchain which is the most popular and decentralised Blockchain with the largest ecosystem. This serves the vision of Goldea to spread as a permision-less global money system, making it the perfect medium of exchange, store of value and unit of account tradable internationally.
Redeemable Direct Ownership
Goldea token holder is the direct owner of the underlying physical bullion stored in secure private vaults. Tokens can be redeemed at any time against the associated allocated precious metal or can be exchanged against fiat currencies.
Allocated and Segregated
Goldea offers only tokens backed 100% by physical and allocated gold. All precious metals are held in the form of Stuttgart Stock Exchange (EUWAX) Good Delivery bars in secure private vaults, in stable jurisdictions with respect to private property and privacy laws.
Secure and Transparent Trading
Blockchain technology ensures cryptographic security. Transactions are verified in a matter of seconds in an immutable ledger providing full transparency and security to all participants. Goldea is a secure, flexible and cost effective way to utilise gold and silver as payment and as an asset. You can use it however you want.
Goldea tokens are tradable 24/7, 365 days a year and are not limited to traditional exchanges. GOldea can be exchanged at any time through crypto exchanges, peer to peer (from wallet to wallet) and other venues. AgAu tokens may enjoy more liquidity than other cryptocurrencies due to its stable backing and the possibility for redemption. At first, price discovery will be ensured using traditional pricing references precious metals being one of the most liquid commodities.
Privacy and Security
The blockchain allows a relatively anonymous ownership. While all blockchain transactions are published and transparent, the ownership of the crypto wallet is theoretically anonymous. This allows to transact in multiple accounts emulating banking secrecy since nothing publicly links the account to the account holder. Only the private key can identify and transact in each account.
We are driven to do the best job possible. We pride ourselves on cultivating lasting client relationships built on trust and mutual respect.
Our clients include many of the world’s best-performing and most admired companies, law firms, and industry organizations as well as United States and international regulatory and government agencies.
We help you and your development team to create stunning Blockchain-based applications – no matter whether it’s a legacy or new system.
We know that in order to maximize the potential of success for your business we need to shape our expert advice in a way that applies to your way of doing business.
Capitalize on low hanging fruit to identify a ballpark value added activity to beta test. Override the digital divide with additional clickthroughs from DevOps.