Digix and WeTrust brings savings and lendings with Gold on the Blockchain
DigixGlobal and WeTrust partner to pilot Gold Token Lending Circle program
Santa Clara, California — Mar 17 2017
WeTrust, a platform created for savings and lending on the blockchain, has partnered with DigixGlobal, a company putting digital gold tokens on the Ethereum blockchain. George Li, co-founder of WeTrust mentions, “We look forward to enabling Gold based Lending Circles very soon and are excited to be working with DigixGlobal to amplify the strengths of Lending Circles through the use of technology.”
WeTrust has released a fully functional and security audited proof of concept that allows the creation of Trusted Lending Circles using Ether as the unit of account. A key factor in driving mass adoption of the WeTrust platform is providing the ability for users to use the unit of account of their choice, and by allowing gold tokens to be utilized. Gold has a storied history in their use within lending circles, and are currently used in many parts of the world due to their cultural role in society and their stability as a store of value. As WeTrust makes progress in supporting multiple types of tokens, Digix gold tokens is a logical next step due to demand from users.
WeTrust, based in Santa Clara, CA, is leveraging social capital, trust networks, and blockchain technology to create greater financial inclusion. Their first product is a distributed application which facilitates the creation of Trusted Lending Circles (also known as Rotating Savings and Credit Associations, or ROSCAs) on the blockchain. WeTrust is also currently conducting a token crowdsale, and has successfully raised ~$4 Million thus far.
WeTrust and DigixGlobal are working hard to enable Digix Gold tokens, and expect integration to occur immediately when Digix relaunches. Stay tuned!
