The cryptocurrency market has continued to witness a surge in the number of investors and daily traders in the last few years. Daily, billions of dollars worth of cryptocurrencies are bought, traded for other currencies across the many crypto exchanges. Cryptocurrency advocates for an independent currency, backed by anonymity, secure and free from government or financial institutions interference. But just how has cryptocurrency achieved all of these or has it failed? Until now, cryptocurrencies have lacked definitive use other than being a speculative investment. Marked by high volatility, a cryptocurrency can lose or gain up to 20% in a space of minutes or even more than that in some cases. The volatility of the market has defeated it’s purpose or replacing or serving as an alternative to fiat money and governments have not hidden their displeasure because of it.
Fiat on the other hand is not entirely safe from market volatility as it’s major bane is inflation which results in them losing their value. The bottom line is that the lack of an asset backing cryptocurrency and fiat affect their stability. One may be forced to ask, how do we remedy this situation?
Before now, gold was used as a standard for storing values. Countries used to tie the value of it’s currency to the amount of gold in its possession. The gold being a fixed asset served as a backing to the money’s value providing a self regulating and stable effect on the economy. But this didn’t last long, in order to sustain government spending, countries abolished this practice in favour of infinite printing of currencies by Central banks and the result? A continuous inflation of the currency. But a new currency, Golden wants to take us back to the gold old days.
First Global Cash Money On Blockchain
Golden is a revolutionary currency utilising the blockchain technology to provide the first fully functional private currency that is reliable and convenient to use. The Golden currency is 100% backed by gold. In essence what this means is that the Golden Currency is not prone to economic disruption or political turbulence. Leveraging on the blockchain, Golden will be transparent, anonymous, legal, reliable and use the best modern practices available.
Instead of serving as a speculative currency, Golden will offer definitive use of the currency. Golden will be available in bank notes and in digital form in other to meet the varying needs of people. In countries where there is no legal prohibition of Golden, it will be utilised for payment of goods and services.
For More Information
Website: https://www.goldencurrency.world/
ANN Thread: https://bitcointalk.org/index.php?topic=2994066.msg30792043#msg30792043
Whitepaper: https://www.goldencurrency.world/white_paper_eng.pdf
Telegram: https://t.me/Golden_Currency
Connect with me on Bitcointalk https://bitcointalk.org/index.php?action=profile;u=2171173
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