Vault Partners for Gold-Backed/Redeemable Stablecoin

Gold-Blockchain is a Solution while Bitcoin is Not

Gold-Blockchain is a Solution while Bitcoin is Not

Our fiat money could never work for long. The gold monetary system of past did not fail by fundamental design. Central bankers first perverted it with paper notes and leveraged markets. Finally, in 1971, government abandoned it due to their own overspending. The resulting fiat we have today will fail by design, it never had a chance. Money cannot be baseless and printed into infinity. Having a central authority issue money at will results in corruption, class...
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Admiration of gold predates history. The earliest known history of gold is a golden treasure dating back to 4600 BC. One of the earliest known Egyptian maps, the Turin Papyrus Map, shows detailed plans for a gold mine. The Aztecs regarded gold as the product of the gods, calling it literally “gods excrement”. Civilizations from every corner of the world clearly made great connections with their Gods and Gold. Today the world is full of gold...
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Top 10 Gold Misconceptions & Propaganda on the Internet

There are many gold misconceptions distributed about. The propaganda is meant to keep us from buying gold. The Federal Reserve is a private institution representing the interests of 12 US banks. The Fed's foremost agenda is to defend their banking system. Secondarily it represents broad economic interests as mandated by US Congress. Those objectives do not always work in harmony. Gold is the central bankers Achilles heel. Interest in gold means people are losing faith in...
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Gold Backed Money Based On Blockchain is Coming

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Countries are going to begin using digital gold-blockchain monies. Blockchain is fast, efficient and transparent. Governments can collect taxes directly on-chain with a centralized core, but distributed ledger. You'll spend money on a debit card like you do now, it will be very similar, you won't tell the difference in the way it spends. Russia and China have been buying large amounts of gold and silver recently. Countries such as Germany, Netherlands, Hungry, Turkey and others...
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Gold-Backed Blockchain

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You won't be buying things with actual coins. You wont be using paper 'dollars' representing gold (as in the past). Those things won't even exist. The future is a digital money. Something incorruptible, verifiable and fast: a distributed blockchain ledger. Yes, it is similar to cryptocoins today. But not exactly. The difference is that the source code will be managed by your issuing government. Another difference is that it will be backed by gold. The coins...
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Our fiat money system was designed to fail. The government borrows money from the Federal Reserve with interest attached. As time goes on, the debt compounds and raises exponentially. There comes a a time when that money is impossible to repay unless ever more is created, bringing about hyperinflation. The value of money drops dramatically during hyperinflation due to the massive amount issued by the bank, diluting the existing supply. The only cure is printing more...
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It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold-backed blockchain system will give great faith in the health and security of our economic engine. Blockchain is a distributed public ledger containing a transaction history. This ledger is stored on multiple systems across a...
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TORONTO–(BUSINESS WIRE)–Vault, the Canadian-Swiss smart contract platform, today announces its partnership with blockchain-driven trust company Prime Trust. Under the partnership, Prime Trust will act as fiduciary and custodian of the LBMA gold bullion behind Vault’s gold-backed and redeemable, 1:1 USD-pegged stablecoin, USDVault, which will launch in Fall 2018.

Vault is backed by a consortium of precious metals focused private equity funds, explorers, miners and refiners. The company’s upcoming USDVault token is ERC20 compliant and issued on the Ethereum blockchain, and acts as an “evidence of a deposit,” giving investors the ability to redeem the tokens for $1 USD or its equivalent in gold. It is able to remain gold-price neutral and stay pegged 1:1 to the US dollar through a sophisticated gold hedging process to be executed by Vault’s precious metals partners.

The new partnership both positions Vault’s USDVault token as a viable alternative to market-leading fiat-backed stablecoins, and signals Prime Trust’s first move into the world of precious metals – a move that bridges the two asset classes that have a special appeal to investors seeking opportunities outside conventional markets.

“USDVault is an interesting and ambitious stablecoin project unlike anything we’ve worked on until now,” says Prime Trust CEO and Chief Trust Officer Scott Purcell. “The Vault team brings to the table the precious metals operational and strategic partnerships necessary to pull off something that has not been done before.”

Under the partnership, Prime Trust will act as the fiduciary partner and custodian for all assets related to Vault’s USDVault token. After passing KYC/AML compliance checks, token buyers will transfer funds to Prime Trust, which is then responsible for executing the operation protocol provided by the Vault Platform. This includes purchasing of gold bullion and a specific hedge with Vault’s designated financial partners to maintain price stability vis-a-vis the US dollar. All transportation and storage of the gold bullion will be conducted by a fully insured vaulting company in Switzerland.

“Together, Vault and Prime Trust will offer cryptocurrency investors something previously unheard of – a secure, investment-worthy stablecoin that gives token holders a legal claim to the USD equivalent worth of gold or fiat currency,” says Vault CEO and Co-founder Ranjeet Sodhi. “Leveraging our respective strengths, we hope to provide the gold standard of stablecoins for institutional investors.”

About Vault

Vault is a Canadian-Swiss smart contract platform backed by a consortium of precious metals focused private equity funds, explorers, miners, and refiners. The first token to be issued on the Vault platform, USDVault, is US dollar stable, backed by LBMA Gold stored in Swiss vaults, and redeemable for gold or fiat. The token enables traders to exit market volatility without moving into fiat or taking on commodity risk, due to a sophisticated currency hedging program.

About Prime Trust

Prime Trust is a chartered, insured financial institution that as a “Qualified Custodian” provides token and FIAT custody, funds processing, AML/KYC compliance, and transaction technology for the new digital economy. As a blockchain-driven trust company our mission is to provide ICO and STO issuers with the best-in-class solutions to seamlessly meet the needs of their offerings and of exchanges and secondary markets.

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