World’s first Gold Token SOLD OUT!!!!
Pecunio’s gold-backed token PGX was sold out in a mad rush Friday, April 6th 2018
Vienna. This Friday 6th of April, Pecunio is officially the first company to launch physical gold worldwide, via the blockchain. The first gold-backed token PGX was created one day before first transacted on the Ethereum main net. Every Pecunio Gold Token represents exactly 1 gram of segregated, unallocated 999.9 fine gold from LBMA-approved refineries.
A batch of 3000 PGX tokens was sold out in a gold rush on the platform. 16 white-listed addressees were entitled to receive their asset-backed tokens running on the Ethereum blockchain. The 3000g of gold were weighed in and secured in a professional high security vault, as seen in the following video:
Here is a Screenshot from Etherscan for the distribution of the tokens:
Pecunio’s Gold Coin is just one possible way of safely transacting value on the blockchain without inflicting major loses due to volatility. The idea is to create a cryptocurrency not only backed by gold, but also exchangeable into physical gold. It would therefore be:
· A payment solution for goods and services (gold-backed cryptocurrency)
· Act as a gold-tether in times of market turmoil
· while being the safest and most transparent way of transacting gold
Say for example, the cost of a B2B transaction is $1 Million and the payer pays this amount in Bitcoins the rate of which at that moment is $8500. In that case, the payer will have to transfer 117.647 Bitcoins in the payee’s account. This transaction takes time, also called one “block time.” And if going by the volatility of Bitcoin, the price falls to, say, $8000 when the transaction is verified and complete, the payee stands to lose close to $60,000.
Because asset-backed tokens have a fixed amount of asset backing it, you cannot have a large number of them in circulation. So to create an asset-backed token, its value needs to be tied to something that is abundantly available, comparatively.
An asset-backed token like Pecunio’s will provide the much needed stability to the crypto markets, something that had been dearly missing since the last few years. It is obvious that with stability, crypto assets will attract a far greater number of investors.
Register for the next batch NOW on: