Asian Gold-backed Digital Currency Initiates an Efficient International Trade Settlement Model - Reuters

 

Asian Gold-backed Digital Currency Initiates an Efficient International Trade Settlement Model

Asian Gold-backed Digital Currency Initiates an Efficient International Trade Settlement Model

Mon Oct 8, 2018 - 12:15pm UTC

Global gold industry blockchain alliance, Goldlinks, recently unveiled an innovative and more efficient international trade settlement model, which is based on a gold-backed digital currency , GGC or Global Gold Cash.

Singapore – October 8, 2018

Gold and silver are some of the major assets that ensure high returns on investments. Goldlinks, a global gold industry digital asset trading platform which is based on the blockchain technology, recently announced that they , GGC or Global Gold Cash, which is the backbone of its breakthrough international trade settlement model. The alliance has also announced a price index of BTC/ETH to GGC.

Some of the traditional commercial enterprises have taken GGC into consideration for international barter trade settlement already. Earlier, a Korea-based company adopted GGC as a trade payment tool. The first batch of standard gold bars released by Brink’s, the world’s biggest cash and valuables management company, has been withdrawn successfully by the Korean company by using GGC.

With the support of gold digital currency GGC, Goldlinks initiated a more efficient international trade business model. As a breakthrough trade settlement tool as well as barter trade pricing tool, GGC will foster the broad-spectrum growth of international trade and bring the salient benefits of gold based trade settlement to the table. Compared to the traditional method of settlement, the gold-based method is more efficient, more transparent as well as more cost-effective. Since the authenticity of the goods and funds is verified through blockchain, which is a non-modifiable and traceable model, security of funds is ensured and risk of international trade fraud is mitigated to a great degree. High stability is another added advantage of the gold-based trade settlement model. The white paper of the project also claimed that the risk associated with exchange rate fluctuations can be completely avoided by using this model. GGC, which is a deflationary currency, has the potential to become a super-sovereign and decentralized instrumental property.

GGC, regarded by many as the future of Asian gold digital currency, can potentially be used as a financial tool to pack gold issuance, circulation and withdrawal into one transparent blockchain. It is dubbed as a more efficient, more convenient and safer pricing tool. At present, one hundred GGC equals to one gram of physical gold. With independent gold management, periodical audit by third-party world’s top eligible audit institutions and 100% gold reserve and strict KYC (knowyourcustomer) compliance make it one of the safest options for carrying out gold industry equity investments.

Current international monetary system are facing certain inherent defects and systematic risks. To create an international reserve currency which is decoupled from the sovereign state can help in avoiding the inherent defects. The rise of gold-backed stablecoin, like GGC, may just on time for riding the tide.

About the Company

GGC is a digital currency developed by Goldlinks, a global gold industry blockchain alliance. Goldlinks aims to use the most cutting-edge blockchain technologies to remonetization of gold.

 

Contact Info:
Name: Media Relations
Organization: GGC

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