Here are the answers for your questions :)
What is GramGold Coin (GGC)?
GGC is backed by 1 gram of gold in terms of value and is transacted through the blockchain. Its minimum value is supported by the gold price and secondary transactions can be carried out with a high level of efficiency, confidentiality, and security.
Why do we need GGC?
It serves a couple different needs from investors through its unique characteristics derived from being a precious metal, a currency, and crypto.
For value preservation, GGC can be used to hedge against asset bubbles which we experienced from the last 10 years (i.e. 10 years of bullish market on equities, bonds, credits and real estate that will soon face huge correction)
Due to GGC’s unique characteristics, it has the potential to become unit of account and settlement coin in the crypto space, or maybe one day in real life.
Why GramGold Coin?
GramGold Coin (“GGC”) was designed and created to address the lack of stability in the crypto space, we designed this token based on trust and transparency.
We did not go through ICO like our competitors because we want every gold token created by us to be trustworthy from day one, every GGC on the market is backed by 1 gram of gold in an independent and secured vault with real time audit report available to the public.
Why choose gold? Not silver or any other metals?
Due to its rarity, longevity, density, malleability and lust, gold had been accepted as an asset that backs fiat money for centuries. Even after 1971 when the U.S. abandoned its “Gold Standard”, gold remains a valuable asset that serves as a precious metal and real money until today.
If we look at today’s world, it’s also very possible that the USD will not remain as strong as before, with a correlation of -77% between USD and gold, gold have a better outlook now than ever.
What do you mean by hedge or hedging?
Hedging is analogous to taking on an insurance policy. The rest we think investopedia can explain better. https://www.investopedia.com/terms/h/hedge.asp
Who is your vault service provider?
We’ve partnered with BullionStar, which is considered one of the world’s largest gold vault, now located in Singapore.
What is the supply limit of GGC?
There’s no maximum supply for GGC. We mint GGCs whenever there is a need from the market.Every single GGC is issued out of gold already purchased and held in a gold vault.
See our latest vault certificate:
If GGC is backed by gold, where and how is the gold stored?
We are partnered with BullionStar, which is located in Singapore. We purchase gold from them and store gold in their vault.