Thank you to everyone for all the support! The people that see asset-based cryptocurrency as the future are brilliant! As I said in the video, we are combining the best attributes of gold and cryptocurrency. Thus, it resolves the issue of cryptocurrency not having 'intrinsic value' by tying it to gold. But, we've taken it a bit further in our model.
Thinking as an investor, CEO and a developer, I 'not only' wanted a means to store/save the money that I earned. I wanted my savings to earn me a decent, consistent return. That's why our model is based on the net profit earnings of the gold mine. This is the genius in our model. Because everyone knows that the market/demand for gold is global and has been in demand for centuries. We never have to worry whether people will buy/adopt our product (gold) - companies, governments, and individuals are always waiting to purchase it 24/7.
There are some who misunderstand that we are storing gold in some vault in Zimbabwe. That is incorrect. We are not storing any gold. We are immediately selling the gold to the Reserve Bank and buying Ether with the cash that we are paid. So, we don't have to worry about the security aspect of storing the gold. Our value is immediately digitized onto the blockchain. So, you are not saving to just save your value (in some vault), you are actually saving to earn a return! Whether the market goes up or down it allows us to give our GMA token holders a 5% royalty (in the form of Ether) every quarter. You do the math - how much is that annually?
- God Bless the Blockchain!!
Why i should buy your token? Is it not better to buy gold from the seller directly or on the exchange through a broker?
Read carefully the title; Digitizing Gold assets. The real essence of this project is to make easier the buying of selling of Gold. Imagine the risk on storing your gold in house. You will need vault and secure your house from, you can't easily sell them since you will get it first to your vault then go to the nearest shop that buy gold. If you choose digital assets. You can store your gold in your pocket and carry/trade it easily without hassle. But it's up to you if you really want to see what you are investing.
I'd be more worried about investing in places like Zimbabwe than the storage and security of the tiny amount of physical gold I could get for the same amount of money invested. Things may have changed for the better over there with a new president, but political stability won't happen overnight.
I like the dividends. But I don't like gold miner ICOs, with their strange climates that limit mining activity to certain months of the year, and their lack of third-party verification for the gold they mine and sell.
I'll leave to others to explain how a token backed by a centralized asset can claim to be "decentralized".
