The common complaint is that gold and precious metals don’t have much utility. You wouldn’t bring along a bunch of gold bricks on your next shopping trip, would you? Of course not.
So how do we resolve this issue?
The answer is simple:
We’ve entered the digital age, and with blockchain technology, we no longer need to mint money on hard materials. The blockchain affords us the opportunity to log valuable assets into a ledger system and subsequently issue cryptocurrency tokens based on the value of those assets. In fact, we’ve developed a blockchain specifically for this purpose.
We receive appraisals
on valuable assets
We log the appraisals
on the blockchain
We issue digital tokens based
on the value of those assets.
GODcoin will begin by monetizing gold reserves in the form of digital tokens minted on the blockchain. We will take the weighted amount of assets in reserve and distribute that figure evenly so that each token has a set weight of gold to back it. The currency is then pegged to the value of gold. As gold’s value changes, so does the value of each token. It’s simple, more stable, and a guaranteed way to ensure the wealth of many generations to come.