Introducing BitGold!  
THIS COULD CHANGE THE WORLD A CURRENCY THAT RESOLVES THE PROBLEM OF FIAT MONEY (unbacked by anything tangible & physical) & THE PROBLEM OF CRYPTO MONEY (unbacked by anything tangible & physical).  New technology is being applied to solve a problem that has existed throughout the ages.
BitGold's Roy Sebag & Josh Crumb take some time out at the Interzone Conference in Banff to discuss BitGold .. it's an online financial service platform using gold.. 7 minutes
A New Way To Use Gold
Founders of BitGold, Roy Sebag & Josh Crumb, explain how the Toronto-based gold & bitcoin internet startup facilitates "a new way to use gold." .. 5 minutes

Some Features of BitGold: 
1. BitGold is setup as allocated gold - Every gram of gold in the account is your property: fully reserved, allocated, and redeemable under Bailment Law in Canada .. the gold is owned outright by the BitGold account holder and it is stored at Brinks (insured also). 
2. Physical Gold can be redeemed anytime via 10g cubes or 1kg bars or a combination thereof. 
3. You can redeem gold value back to your bank account, credit card, Bitcoin, INTERAC, or SEPA. 
4. You can get cash via BitGold ATM, Bank Wire Transfer, Mastercard, VISA, China UnionPay, INTERAC, SEPA, and Bitcoin. 
5. No storage costs for your gold. Free storage at private vaults secured by Brinks in Toronto, New York, London, Zurich, Hong Kong, and Singapore among others. 
6. All gold is fully insured by Lloyds of London. 
7. BitGold is of course gold-backed currency and it is fully in compliance with all national and international regulations like any other currency globally.

How Blockchain Technology & 
Gold Can Work Together
Free marketeer Thorsten Polleit considers bringing together the newly emerging blockchain technology for facilitating a financial & payment system with the centuries-old store of value inherent in gold .. "Transactions through digital currencies such as bitcoin are confirmed, or validated, by a decentralized consensus system that uses a 'blockchain.' The latter is essentially a public digital ledger, an account statement for transactions among computers .. The gold-on-the-blockchain technology appears to hold great potential when it comes to making possible a world of digital gold money transactions .. The evolution of the blockchain largely circumvents many of the obstacles governments put in the way of a free market in money. Where it will lead is, of course, is impossible to predict with certainty. In any case, when we’re comparing to government fiat money, digital currencies can offer attractive alternatives. The same goes for gold lovers, who may see blockchain technology as the means of conveying physical gold; and in the end digitized gold money could become a practical option."
LINK HERE to the essay

No comments: