TrueGoldCoin goes back to the roots of coins with TGC

Robert Sole 6 June, 2019

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Table of Contents

The versatility of Blockchain and the backing of real gold reserves result in TrueGoldCoin (TGC)

Today we are launching a project that will have a significant impact: a token linked to gold mining rights. A talented team, with decades of successful business ventures and hard work behind them, presents the revolutionary TrueGoldCoin token.

A project based on more than 30 years of experience at the highest level. Innovation in networks and telecommunications, artificial intelligence, ISP management, design and configuration. The founders of the TrueGoldCoin project offer a unique token, linking solid commodity mining titles with the versatility of blockchain technology. As you begin to read the report, you will get a glimpse of the direction of the documents and the project. On the home page, we find the following statement:

"Returning to the Roots of Coins"

TrueGoldCoin Whitepaper

It is well known in the industry that state currencies (or commonly denominated Fiat) historically lose all or almost all of their initial value. In the 70s, a decision changed the rules of the game; The United States decided to delink the US dollar from the gold standard. Since then, the value of the currency against the precious metal has been eroding.

Governance, decentralization and 1800 hectares to be mined

The TrueGoldCoin Token is an ERC standard (on the Ethereum Network) promoted and backed by more than 1.800 hectares of gold mining rights. The titles of more than 1.800 hectares of mining rights make the token attractive to all types of investors. The attraction is clear, both for those who seek to speculate in the market, and for those who wish to acquire positions in the precious metals market and benefit from its gain in value. TrueGoldCoin issues a special token, fully backed by proven and probable gold reserves, offering confidence and leaving empty promises for other projects.

To the classic governance features offered by tokens on public, decentralized and immutable blockchain networks… is added a clear demonstration of commitment and commitment to stability. Prestigious collaborations with NASA dispel any doubts about the capacity of the TrueGoldCoin team. We find a solid “golden rule” in the founding whitepaper:

"We will never issue more than 10% of the calculated value of our gold reserve."

The TrueGoldCoin team

When it comes to endorsement, it must go through due scrutiny. Words are obviously carried by the wind; To be considered a reliable and proven endorsement, a verification process is completed. To calculate its value, you will find below some reference data taken from the TGC documentation and / or its white paper.

On the value of the lands that back the TGC token

Gold reaches 100% of its value when it is deposited in a certified bank or depository institution as a refined final product. While deposited gold is valued at 100%, it is valued at a range between 60% and 99% of value when it has been mined and goes through the entire process of transportation, smelting, refining and export. Therefore, its price is 10% when it has not yet been extracted (as in the case of TGC).

In short, once we understand the process the mines are in and where the exploitation is, we look at the initial offering of the backed token.

The importance of satisfying settlement for token holders

Balance is crucial, blockchain technology provides global access to the network. However, it could be a problem to liquidate your position if the token holder is too far from the physical backing. At other times, a gold-backed token could become a headache when it comes to liquidating stocks. In this sense, the TGC team shows the maturity and commitment of veterans in the management of technology, assets and / or properties.

TGC is also backed by real cash. This has surprised us as a noteworthy detail. We found the following statements from one of the founders (Enrique Pallares) on icoholder.com:

«True Gold Coin is not just an Initial Coin Offering (ICO), or an asset-backed ICO, or a simple AltCoin that was launched to meet the moment. NO, TGC is also backed by real money to make sure that any TGC holder who wants to exchange their tokens for FIAT, the money will be available in the treasury to do so.»

The backing offers settlements that can satisfy supply and demand

Offering this type of dual support, linking hundreds of hectares for mining, and the possibility of liquidating the position in cash ... shows a clear concern about the role of the investor. These initiatives reduce counterparty risk and encourage both supply and demand. A clear example of this is the statement of the experienced CEO E. Pallares:

"Exchanges are available, but in building the ecosystem for TGC payments, we need our tokens to be able to be exchanged for any currency at any time."
E. Pallares

Occasionally, some cryptocurrencies experience a so-called “flash crash,” when the market’s selling power exceeds the counterparty’s demand. These situations cause instability and distrust in the market, which is why TGC is clearly betting on the token in the long term.