October 29, 2018. Golden Currency (www.goldencurrency.money) announced today of the first issue of Golden. Golden is planned to be the first global private currency fully backed by gold.
Golden is the name of real money, which will be used for everyday cash and non-cash transactions.
The first sample issue of Golden has one denomination of “1 Golden” which was minted on a special paper with watermarks, visible and invisible fibres and other security features.
Each golden is backed by 0.025 grams of 999.9 gold vaulted in Singapore. Currently it is equal to 0.99 USD. Credit Suisse gold bars manufactured by Valcambi are used. Golden can be exchanged for gold, any Golden user can come to the vault and get 999.9 gold bullions. At the moment the minimum quantity of gold that users can get is 2.5 grams.
Nobel prize winner Friedrich August von Hayek in his book The Denationalization of Money in 1976 advocated the establishment of competitively issued private moneys and Golden Currency project is the practical implementation of Hayek ideas.
Now there is no other money in the world that is fully backed by real assets, inflation-free and independent on political and economic situation of the country where it is issued.
Golden project started in September 2017, when initial analysis and conceptual study of the project were carried out. The project is implemented by a highly professional team led by founders with extensive experience in implementing complex and large investment projects. The issuer of Golden is an entity registered in USA. The operating company is registered in European Union.
In order to use Golden in banking and business globally, the code XGN is used, which is correlated with ISO 4217 standard that delineates currency designators.
Golden is available not only in cash, but also in blockchain form. Golden Currency operating company issues ERC20 Ethereum Golden tokens and makes it available to exchange Golden cash for Golden tokens.
All details on the Golden Currency you can also find on web pages of the currency at www.goldencurrency.money