Announcing the Gramgold (GGT) Token[/url]
Gramgold Token (GGT) contract address https://etherscan.io/token/0x92d1dedb17626cad8a32a36083aec4f19325e474
Do not send payments to the contract address
Payments to 0x45f8967279eEd2FdB139161859BA36ef53ead4F7 "Buy Gold For Less, Sell Gold for More.."" Not just an ERC20 token backed by Gold and a Global Gold Asset
Decentralised Trading Plaform based on blockchain technology & cryptocurrency...
Its a Gold Exchange, a Gold Vault, Gold ATMs
(to be sited in shopping centres around the Globe) and a Foundation...
..all by a UK Precious Metals Processing Company, Birmingham Gold Company"
Revolutionizing Gold Markets, Globally!
"Why should you care? Because you, like most people, have probably paid too much when you bought Gold and when you've sold it, got far too little back. ...We're going to change that. Use GramGold & Cryptocurrencies to buy, sell & exchange Gold"
Executive Statement
Consumers globally are selling their gold for far too little and buying it, if and when they can, at far too high a price, thanks to greedy middlemen, unfair & unscrupulous dealers and manipulated exchange markets. We are going to change all that.
The GramGold project
https://www.gramgold.net is a unique proposition in the world of cryptocurrency today. It’s not just an ERC20 token backed by Gold and a Global Gold Asset Trading Platform based on blockchain technology and cryptocurrency, It’s a lot more besides, as this whitepaper will show."
GGT 10% Backed By Gold Limited to 20,000 GGT per purchaser
We have been asked two questions, several times, leading up to the publication of this white paper. Firstly, why we are backing our ERC20 token (GGT) with 10% Gold to begin with, (when you buy our token you get 10% extra in gold free, in a vault), and secondly why we are limiting the ICO/Token Sale to a maximum of 20,000 GGT per purchaser.
Firstly, we do not believe currently that any crypto asset can be 100% backed by gold and any claims to the contrary should be examined very closely, given costs such as trading & exchange fees, storage costs commissions etc. Even more relevant is the fact Cryptocurrency is far less stable at the moment than Gold. We are currently offering 10% backed by gold, but in the future, we hope to be offering 50% and then up to 95% backed by gold. It all depends on the strength of our token after sale. It is not possible nor feasible to start at 100% backed by gold.
Our token would enable the global consumer to buy and store physical gold with us from anywhere that is allowed in the world. This might not be a big issue for affluent people with large disposable income and access to gold exchanges and bullion vaults in their locality BUT for those that can only buy gold at a ridiculous premium or not at all, due to lack of facilities etc. we have just the answer. It is to these consumers that we wish to appeal, which is why, to answer the second question, we have limited the supply of GGT Tokens to 20,000 per purchaser. We do not want whales. We want the person in the street to benefit, not the centralized powers. Isn't that partly what blockchain should be about?
GramGold The Bigger Picture
But Gramgold is far more than just a token. There are several serious and pervasive problems to be addressed in the global marketplace for gold and precious metals and the GramGold token GGT helps to solve them all.
90% of the recycled supply of gold comes from the consumer (not industrial scrap) i.e. when the consumer sells their jewellery/scrap. We have proof that from this $50 billion industry the consumer, through overlong supply chains filled with many rogue middlemen, gets short-changed to the tune of some $33 billion (see appendix 2) taking money from the pockets of those who need it and away from the local economy, having an impact on local revenue and employment.
The second issue is one we have just touched upon. Purchasers all over the world are often paying far too much for gold bullion bars and coins. We can estimate that consumers waste over $2 billion per annum of their assets either through paying too much for their gold bars and coins or through getting scammed as well as being physically mugged etc.
The third issue is one of Gold markets. Current Precious metals exchanges also cause consumer losses with often-cited accusations of fraud and manipulation. Even the Federal reserve and large Banks have been accused of manipulating prices.
Solutions
We have outlined the problems faced. We have four solutions to these issues.
The GramGold Token GGT
The GramGold token (GGT) is a custom token developed on the Ethereum blockchain as an ERC-20 Token. This has a twofold function. The first is that it can be bought at any time and is 10% backed by Gold, via the Augram scheme. It can then be used to buy gold at preferential rates. The second function of the Gramgold token is to fund the other 3 initiatives we intend to launch to combat the problems we all face when we buy and sell gold and precious metals.
The Augram Scheme
The Augram scheme Initially will facilitate the ownership of gold to our purchasers at correct, not over-inflated market prices but ultimately will enable consumers globally to buy, sell & store gold using a basket of cryptocurrency leading to the creation of a blockchain backed precious metals exchange to eliminate fraud leveraging and gold market manipulation in current exchanges.
Not only will it provide the small purchaser with the ability to buy and secure gold at the right price and store it online securely, it will enable them to trade gold and other precious metals in a non-manipulated decentralized exchange via a basket of cryptocurrencies.
By setting up our own decentralised precious metals market exchange platform we would re-move the risk of market manipulation from purchasers/consumers. We will eliminate fraud lever-aging and market manipulation by having a decentralised exchange being fed and aggregating live global market prices.
The GramGold ATM
We are developing the GramGold ATM to ensure the customer gets the right price when selling physical Gold for recycling i.e. jewellery & scrap. The ATM will also allow for purchases of gold bullion via our Augram scheme either via bank account transfer, cryptocurrency or the swap of scrap for bullion.
The GramGold Foundation
The GramGold Foundation (The GGF) will not only promote the GramGold ATM and good buying/selling practices globally, it will also provide training, and support to candidates selected to maintain the GramGold ATM.
Please consider this consumer project which we believe will revolutionize not only the gold & precious metals recycling industries but also current trading platforms.
TOKEN SALE TOKEN SALE BEGINS 18/02/2018TOKEN SALE ENDS 01/04/2018We have set our token sale at a level to reflect these aims.
Total token supply: 1,000,000,000 GramGold Tokens
50% of the tokens will be distributed to ICO participants
10% of the tokens will be allocated for the Team,
35% Reserve Fund
5% Bounty
Token PriceThe price for the GramGold token will be logically set at 1% of the live price of pure gold as at 01/02/2018 0700 hours GMT ($43.12) This equals $0.4312. This equates to 0.000375 eth (at coinmarketcap’s price at the same date and time)
10% Pure Gold Free to All Direct Purchaser of the GGTWhenever the GramGold token (GGT) is bought or invested in, via direct purchase from GramGold (as opposed to trading it in pairs on a platform) the buyer receives 10% percent to the
value of their purchase in the form of gold, free of charge via our AuGram scheme to be stored in an online vault and accounted for, via independent auditors.
Three events take place.
Firstly Any direct purchaser will receive the GramGold (GGT) token sent from us to their wallet. Secondly upon receipt of an email from the purchaser confirming all relevant transaction details we will, within 48 hours of the email, purchase and store for them pure 24 carat certified gold at the rate of 10% of their total token spend for the relevant transaction, converted into dollar equivalent. Gold will be purchased at the relevant LBMA rate for that day. The purchaser pays nothing for the gold which is stored by GramGold in an online vault on behalf of the customer. Thirdly GramGold will deposit the equivalent dollar or sterling value of the gold into a dedicated Bitcoin/Ethereum wallet to ensure that any mass withdrawals of gold are covered.
Example Investor A buys 1000 GGT Tokens with Ether
The transaction costs the buyer 0.1 Ether.
On the day and time the transaction is recorded on the blockchain 0.1 ether was valued at $110. The purchaser sends us an email confirming all relevant transaction details
GramGold buys $11 worth of 24 carat gold at the LBMA price for the day (AM or PM) and stores it for Investor A AND at the same time sends $11 to the GramGold dedicated
Bitcoin/Ethereum wallet to cover the withdrawal if ever requested.
ONLY GOLD CAN BE WITHDRAWN.
Token CapCurrent ICO trends have been to declare both soft and hard caps. We have considered both carefully but have decided that this token sale is to be uncapped for the following reasons;
Soft Cap. As we are buying and storing gold on behalf of investors at the token sale stage and as we will be undertaking all developments as outlined in this white paper anyway a soft cap is simply redundant in this case. How far we get with our projects will be up to investors.
Hard Cap. We have no hard cap. Here is why:-
Re. GramGold ATM and the GramGold Foundation The global market for high-value gold recycling is worth $50 billion and our target is to reduce the $23 billion lost to consumers. If we set that as a hard cap it would be laughable. That is why we are not setting a hard cap.
The token sale will begin on the 18/02/2018
Our deadline for the Token Sale to end will be 31/03/18.
Token Limits = maximum 20,000 per investor to ensure that we have global coverage to raise our profile to the consumer wherever they may be.
BOUNTY
Our Bounty programme begins 23/02/2018 and ends 31/03/2018
"We don't want pumping and to da moons so ........"
Bounties are paid for every time you do ALL the following
Share one of OUR blog posts ie at
https://gramgoldblog.com TOGETHER WITH THE LINK TO OUR ICO i.e.
https://www.gramgold.net/ico AND Join our facebook group AND our telegram group
We pay 10GGT tokens for every blog post you share . You can share up to a maximum of 10 times on different social media sites or groups and earn 100 GGT
In order to be paid, please complete our form here
Bounties will be paid after 31st march 2018
TradingThe GramGold token will be available to be traded in several major cryptocurrencies when the token sale has completed on the 31/03/2018.
We will be looking to launch our GramGold token on some or all the following exchanges;
Etherdelta
Binance
Bittrex
Cryptopia
BGC TokensAs a test marketing and logistics exercise we launched back in November an experimental token on the waves platform i.e. the BGC token. This has been successful and given us a strong promotional platform.
Once the token sale has been completed holders of this token will be offered an exchange of their existing BGC Tokens to GramGold Token as follows;
As at 06/02/2017 1 bgc = 0.000011 waves. (90,900 BGC = 1 waves)
1 waves = =0.00618 ethereum
1 eth= 14,708000 BGC
At the GramGold ethereum price i.e. .000375 ether
5,500 BGC = 1 GramGold
To date 3million BGC tokens have been issued and the largest holder has c5000 tokens.
The BGC Token will be used to incentivize a marketing and promotional programme.
We hope that you will support our ICO
Website
https://gramgold.net/Whitepaper
https://www.gramgold.net/whitepaperYOUTUBE
https://youtu.be/-7IGXUU3TCwtelegram Group
https://t.me/gram_goldTwitter
https://twitter.com/birminghamgoldBitcointalk
https://bitcointalk.org/index.php?topic=2908503Slack
https://gramgoldtoken.slack.com/Facebook
https://www.facebook.com/gramgoldtoken/Steemit
https://steemit.com/ico/@bgc/gramgold-ico-14-02-108Reddit
https://redd.it/7wf99dLinkedIn
https://www.linkedin.com/in/lionel-refson-5608b552/Youtube Intro Video
https://youtu.be/-f6pHc4bKzgReddit Again
https://www.reddit.com/r/ico/comments/7wzxvq/announcing_the_gramgold_ggt_token/https://www.reddit.com/r/icocrypto/comments/7x0ms6/announcing_the_gramgold_ico_18022018/https://gramgold.net/ https://www.birminghamgoldcompany.co.ukMedium
https://medium.com/@birminghamgold/announcing-the-gramgold-ggt-token-45357de8b45
