What is a Stable Coin?
A “stable coin” is a cryptocurrency that is pegged to another stable asset, like gold or the U.S. dollar. It’s a currency that is global, but is not tied to a central bank and has low volatility. This allows for practical usage of using cryptocurrency like paying for things every single day.
One of the problems with most cryptocurrencies like Bitcoin and Ethereum are volatility. Wild price swings on a day to day basis tend to spook big investors with their unpredictability. This is why stable coins are growing in popularity as they are not subject to these huge price swings and will usually flow with the price of the asset they are pegged to.
With this in mind however, stable coins still only exist in a digital world, until now!
Golden Currency is the brain child of Igor Chekun and Lev Voronov, a new currency that is 100% backed by gold in both digital AND physical form. The experienced team at Golden Currency intend to create their own banking network, based on blockchain technology, where every Golden note will be 100% backed by physical gold thus alleviating the wild swings int he crypto market and creating a more stable currency with substance. Within the Golden Banking Network they will deploy ATM’s, bank cards, POS terminals and a crypto-fiat exchange.
The team are currently in the PRE-ICO stage so now is a fantastic opportunity to get yourself a 25% bonus for your investment.
The Pre-ICO token, PGCT is a VIP token of Golden Currency, providing its owner unique opportunities and advantages in buying Golden and its infrastructure services throughout all the period of its ownership, in particular:
1. Free ICO token for each PGCT.
2. Free Golden banknotes backed by gold for each PGCT at the time of the first issuance (details on the number of PGCT for one free Golden is provided in White Paper)
3. After the first Golden emission PGCT will become a discount token, providing the following opportunities:
а) to buy Golden in the amount of PGCT tokens at each Golden issuance with discount from 5%,
b) to get VIP services, discounts for using Golden infrastructure,
c) other privileges
Golden Currency is a project of the first cash money on blockchain, fully functional private currency, and convenient and efficient infrastructure for its use with utilization of modern technologies, including blockchain.
We are talking about creating an independent legal private analogue of the Central Banks, which uses the accumulated experience and modern technologies to ensure reliable and convenient money.
Here are just some of the advantages that a new currency will provide:
- Existence in cash (paper, anonymous) and non-cash form;
- Independence from the governments of any countries, political or economic situation in any country, but at the same time the complete legality of its functioning;
- 100% backed by gold, the storage and management of which is carried out independently of the issuer; the owners of Golden have a guaranteed opportunity to get gold in exchange for Golden;
- Use of modern blockchain technologies for currency infrastructure (starting from ensuring the independent and reliable storage of gold, and ending with the implementation of payments and currency conversion);
- Convenient, fast and cheap conversion into any world fiat currencies and crypto-currencies (a link between fiat and crypto-currencies);
- Familiar modern money infrastructure – ATMs, bank cards, POS- terminals, online banking, mobile applications, etc.
The entire infrastructure of Golden will provide its user with such conditions that it will not matter in which currency to keep his or her funds in terms of functionality. And if so, taking into account the advantages of the Golden currency, it will be favorable for the user to keep money in Golden, which is not subject to national risks and inflation.
The increase of the currency use, and therefore, the maximization of its turnover and the monetization of the project, will take place on the basis of ensuring and developing its competitive advantages.
This article first appeared on Crypto Currency News Australia