GOLDEN CURRENCY - The Currency We All Need

nasonn(31)

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#blockchain

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Many people, Institutions and governments have not hidden their displeasure of cryptocurrency, they often refer to it as a bubble. They may be forgiven in the essence that objectively looking at the cryptocurrency market and analysing it over a period of say 12 months, one may be forced to see reasons with them. Cryptocurrency has continued to receive all the backlash because of the absence of any stable asset backing it. This minute the market is on the rise, the next minute it has fallen. Such is the state of cryptocurrency currently and truly it’s more like a bubble.

In order to provide a level of stability in the market, they have been some crptocurrecies issued like Tether which has its value pegged to the Dollar. The truth is that fiat currency is not without its fault(s). Many national currencies have continued to see decline in its value as a result of many factors, the major cause which is high inflation rate. Political instability, easy monetary policy are some other causes of fiat delreciation and those in the emerging economies are usually the worst hit. The absence of an asset backing cryptocurrency and fiat means that their value can be easily influenced by a lot of factors.

The Currency We All Need

Golden Currency aims to bring all of this to an end, serving as a link between cryptocurrency and fiat money. Golden will be the first global cash money on the blockchain, what this means is that Golden Currency is not like every other cryptocurrency which serves no definitive but speculative use. Golden will be offered as cash and non cash money, which entails that it will serve as a means of exchange of goods and services in countries where the issuance of a private currency is not prohibited. Golden Currency is leveraging the blockchain to provide a financial infrastructure for value storage that is not subject to market influx nor efflux, political instability or monetary policies but it’s value tied to a stable asset, gold. The Golden Currency is backed 100% by gold which protects it from inflation and political upheaval.

Golden Currency infrastructure is built on the preset of;

Currency issuance - Golden Currency can be conveniently converted into othee currencies like fiat and cryptocurrencies.
Gold backing of all the Golden Currency that will be issued.
Golden bank which will provide all the usual banking services like opening and managing of Golden bank accounts, Issuance of bank cards, ATMs, multi currency accounts, and is not limited to only fiat exchange but also the possibility of exchanging cryptocurrencies.
Golden Exchange which is a full fledged digital exchange that will provide such trading pairs like Golden to Fiat, fiat to fiat, crypto to crypto, Golden to crypto.

Conclusion

As new products are built on the blockchain, most of which have little to no value, it’s heartwarming to finally see such a project like Golden Currency being built on the foundation of solving a major financial problem affecting the whole world. Golden will finally bring peace to individuals and institutions alike.