[May 04, 2015] |
|
Announcing a New Global Operating System for Gold
BitGold
Inc. announces the public launch of the BitGold platform, a software
service that connects free vault storage with payment networks, enabling
a 'banking' like platform for gold. The BitGold platform has
previously been operating in private beta, with invitees opening
accounts, sending and spending gold by email or text message, purchasing
gold in vaults around the world, and redeeming physical gold cubes.
"We are excited to unveil the BitGold platform," said Co-founder and
CEO, Roy Sebag, "an architecture and technology that's taken years of
careful planning and execution, which now allows users to seamlessly use
gold again as a store of value and medium for payments. As a global
asset, gold is recognized in nearly every culture as a long term
protector of value, but has been a poor medium of exchange compared to
the advances in money technology. We felt that gold needed the
modernization and mobilization that's now happening in the global
payments revolution. We have built a financial services platform that is
as close to being counterparty-free as possible, enabling economic
transactions within the existing global financial system to be settled
in full reserved gold bullion."
BitGold is not a bank and does not take risks with a customer's
deposits, not a cryptocurrency like bitcoin, and there are no IOUs and
no securitized assets like gold ETFs. As a Trusted, Limited Third
Party, the platform is a software service that allows for the quick
settlement of independent-physical gold trades so that a users' gold is
easily acquired and accessible across various payment networks. The
platform is powered by BitGold's patent-pending locational-gold exchange
and vault management system inking vault custodians and bullion banks
with real-time settlement. The BitGold technology allows users to choose
where in the world they want their gold physically stored and connects
the securely-vaulted gold to international payment rails such as SWIFT,
Visa, MasterCard (News - Alert), Interac, SEPA, UnionPay, Discover, American Express
and others.
"At BitGold we have a mission to democratize global access to gold
for stable savings, and to make gold useful in micro-transactions using
the internet or mobile phones," said co-founder and Chief Strategy
Officer, Josh Crumb. "No matter where you live in the world, gold has
held value over time relative to costs like food and energy that we
require as humans, making it one the most important savings tools for
most of the human population. We believe that by broadening access to a
commodity-money that holds value we can help combat the rise in wealth
inequality and the short-termism."
About BitGold
BitGold's mission is to make gold accessible and useful in digital
payments and secure savings. The BitGold platform provides innovative
solutions to the challenge of transacting with fully allocated and
securely vaulted gold. BitGold accounts are free and convenient to open
by anyone, anywhere* in just minutes. BitGold provides users with a
secure vault account to purchase gold using a variety of electronic
payment methods, or with currency through an ATM network. The platform
also provides transaction capability including: instant cross-border
gold payments, merchant invoicing and processing for gold, debit card
spending of gold at traditional points of sale, conversions to a
customer's external digital-wallet or bank, and physical gold
redemptions.
BitGold is a Canadian corporation with offices in Toronto, Canada, and
Milan, Italy. BitGold has partnered with established professionals in
auditing, vault security and web security, bullion dealing, and is
committed to best-practice systems for compliance with all applicable
laws and regulations regarding anti-money Laundering ("AML") and Know
Your Customer ("KYC").
*The BitGold Platform will not initially be available to U.S.
Residents and will be unavailable to residents of sanctioned countries
BitGold Inc. is pending TSX Venture Exchange listing under the symbol:
XAU. Commencement of trading will be announced following final exchange
approvals.
https://twitter.com/bitgoldinc
https://www.facebook.com/bitgoldinc
https://www.linkedin.com/company/bitgold-inc-
https://instagram.com/bitgoldinc
[ Back To Mobile World Congress's Homepage ]
|