Dinarcoin (DNC) by Dinardirham

DinarCoin is DinarDirham’s Crypto Asset, created on the Ethereum Blockchain, being pegged to a gold spot contract (XAU) from the MT4 liquidity provider.

The total amount of DinarCoin (DNC) in circulation can be verified on Blockchain or checking the XAU held in escrow at MT4 liquidity provider. The backbone of the technology behind is the Public Ethereum’s Blockchain mechanism.

Every DNC is pegged to real, physical gold, so the risk of inflation is eliminated. We are working hard to make DNC to be the perfect currency: spendable, anonymous, theft resistant, open source, non-counterfeitable, durable, inflation proof, decentralized and scarce. Users can trade DNC, convert it into real money (dollars, euro, & etc.), real physical gold or use it as payments at certain merchants that DinarDirham will engage soon in 2017. This is the beginning of a new era of global currencies. However DNC is created as the 1st Crypto Asset backed by gold in the world.

DNC could easily be transferred or sell this token and receive cash settlement within less than a minutes using the Public Ethereum Blockchain Technology. Hence this will eventually removing storage costs, direct taxation and generally all the headaches of the commodity-to-cash conversion process.
DNC are the form of Digital Currency (again each one backed by gold). They can be traded, used to purchase items, and used for just about any other use a digital currency can be used for instance that already in the market, Bitcoin, Zcash, Ethercoin & etc. As a conclusion, DNC may be purchased or “minted” (which will actually create new DNC backed by physical gold).

STRUCTURE OF THE PRODUCT

DinarCoin can be procured from a holder of DinarCoin on the open market, or they can procure freshly minted new DNC from liquidity provider. On the other hand, DinarDirham DAO (Decentralized Autonomous Organization) can mint new DNC by procuring XAU to the 1:1 value of the DNC through MT4 Master Account. For the lifetime of a DNC a corresponding value of XAU will be held in escrow that will STP 1:1 to the liquidity provider and available to be liquidized anytime when close the orders. Furthermore, when DNC is created it is registered on the Ethereum Blockchain and the Bitcoin Blockchain. The total amount of DNC in circulation can be verified on either Blockchain, and audited against the total XAU held in escrow/Liquidity Provider by DinarDirham.