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Author Topic: NewToken;Digix-like,plus platform enabling asset sales in grams of gold bullion.  (Read 65 times)
Probonau
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January 14, 2018, 05:15:57 PM
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A new ERC-20 standard token has been launched. We have deliberately avoided glossy marketing and presentation in favour of a gritty, down-to-earth, free from frilly and duplicitous persuasion, simple description approach. The Project has been compared to Digix in that a vaulting service is offered. However, the Project goes further, proposing the development of a proprietary platform where those with assets to sell can price them in (literally, as-good-as-gold) gold bullion tokens, directly redeemable for vaulted gold bullion. The savings to asset sellers, and gold bullion fans are exceptional as the Project removes the host of intermediaries currently taking a far too hefty slice of asset exchange deals.

The Project website can be found here: goldbulliontoken.com
The stage 1 ERC-20 Token GoldPayProject (GPP) address: 0x12426eA2537711b87ADa9FB189C1eCf38ca217B7
The White Paper (available also at the website):

 INTRODUCTION

We are, endlessly, advised that when it comes to business proposals, it is, apparently, "all about the marketing"....If it is, indeed, all about the manipulative selling of a business idea, about the presentation rather than the substance, then we would say that it is self-evident that business idea is seriously lacking in inherent worth. We are convinced we have a business idea which brings immense benefits and advantages to participants, particularly fans of gold bullion and the blockchain. We lay out here our idea, our thinking, free from marketing prettifications and duplicitous persuasions, and invite you to see if that business idea appeals to you......

The unstoppable force that is innovative blockchain technology, its fully decentralised, safe, secure, and transparent P2P payment system has had a startling global impact, unlocking a host of new and exciting possibilities, enabling speedy transactions from every corner of the globe, and perhaps most importantly, contributing to the freedom and willingness on the part of international buyers and sellers to better trust and trade with each other.
 It would however be foolhardy to suggest that the current payments system is without problems. Blockchain technology is in its earliest days, and transactions can still be a costly business, as exchanges and cryptocurrency providers invade the space to profit from fees imposed on the buying and selling, the transfer to and from local currencies.
We believe that our GBT Project will make a major contribution to cryptocurrency payment systems, impacting powerfully to render the experience for our users more reliable, low-cost, and free from ubiquitous and interminable intermediary fees.
The cryptocurrency market is characterised by extreme price volatility, rendering those currencies extremely unstable and unreliable in terms of value. This volatility/instability narrative which has been with us since the inception of cryptocurrency has been brought even more sharply into focus with the arrival of futures and options trading. The situation could not be more precarious and unstable for cryptos coming to market with either no intrinsic value or with alleged value which is undefined and ambiguous.
There is significant irony that the arrival of exchanges offering paper options and futures,  allowing hedge funds and institutions the opportunity to manipulate cryptocurrency price action, should come at the very moment we sit on the precipice of the collapse of the Western paper gold market, a blatant price manipulation scheme serving the function of concealing gold bullion’s true value beneath a vast and endless paper gold supply. This egregiously inflated supply has corrupted the notion of gold ownership, for that paper clearly represents an empty and deceptive claim on gold bullion.
We believe we have a robust solution. And we think it comes in merging the best of blockchain technology with the very best of traditional and unparalleled store of wealth, gold bullion. The wealthy and powerful have long understood gold’s primary function. This business proposal envisages the return of gold bullion to its earliest historic dual role as the most solidly reliable medium of exchange, and store of value and wealth par excellence.
 
We have for the past decade dreamt of initiating a platform which permitted sellers of assets to price those assets in gold bullion. The biggest headaches for our earlier plans arose over the issues of security and privacy. Today those stumbling blocks do not exist, for blockchain technology brings us solutions to the issues which previously scuppered the project. Maximum user security and privacy is the sine qua non of our asset exchange platform project.

This business initiative shadows what is unfolding at a global level in the gold bullion arena.
as forward-thinking nations make significant increases in their gold bullion reserves. Gold is a major topic of global interest, and that will never change. We are quite certain that the news that an online platform is offering the public the facility to sell personal assets priced in gold bullion will spark major interest in our ground-breaking new venture. We are confident this new initiative, offering as it does the advent of a new paradigm in the trade of private assets for gold bullion, is such a compellingly attractive idea, and would so capture the attention and imagination of the gold and financial communities that it will largely promote itself.

    THE VISION
Our Project unfolds in a 3-stages process, each stage building upon the other to a comprehensive business initiative.

Stage 1. Funding the vision. The GoldPayProject Token.

It is vital to the Project's long-term goals that initial funds are procured to enable us to build the infrastructure upon which the fully-completed Project will operate. The final stage 3 envisages the creation and development of our proprietary platform which will serve, uniquely, to facilitate the buying and selling of users' personal assets for the, quite literally and authentically, as-good-as-gold Gold Bullion Token, denominated in grams of gold bullion (no paper gold grams permitted!) and stored in our private vaults. Initial funding is required to meet the costs of vault purchase, storage, company formation, legal expenses, and primarily, in order to recruit the very most skilful team of software developers.

The importance we attach to the development of a paradigm-shifting asset-exchange platform which guarantees absolute security and privacy for its community of users can not be exaggerated. This goal is fundamental to our success, and is of paramount importance, and we will hire only the very best developers to ensure we meet this core goal. To this end, we propose a Token pre-sale in order to fund the purchase and establishment of essential infrastructure,
We have watched on in amazement as so many Token offerings have invited participation on the basis of nothing more than the purely and blatantly speculative hope that the Token's price will rise. We are proud that we are proposing something different for our stage 1, GoldPayProject (GPP) Token. Where thus far other token offerings have been noteworthy for the absence of any legitimate value in the coin/token, we are, on the contrary, offering a GoldPayProject Token which confers a host of benefits and rewards.
First and foremost, purchasers of the GPP Token will be at the very pioneering vanguard of founding a wholly unique and ground-breaking service which improves beyond all recognition the terms on which we have all been forced to conduct the trade of personal assets. For participants in the GPP offer become the creators and enablers of a new payment system framework, our GBT platform, where no longer will we all be compelled to price assets for sale in strictly fiat currencies (containing no intrinsic value) and no longer will a host of extortionate fees be charged by abundant vulture-like intermediaries, all extracting a slice of the value of the trade.
As funding founders of this paradigm-shifting Project, GPP Token purchasers are challenging the stale, self-serving, dogmatic payment status quo and its countless disadvantages, their funding of essential infrastructure paving the way for our ground-breaking initiative and the vast opportunities and benefits it brings to a world of trading assets for gold bullion. It is right then that the GPP contain within it valuable and tangible intrinsic rewards, which continue to accrue as the venture is implemented. GPP owners will be exempt from all and any future fees associated with the Project. They will pay no gold bullion storage fees; no platform buyer/seller transaction fees; and no gold bullion delivery fees when exchanging their stage 2 GBT tokens for vaulted gold bullion. These are valuable rewards. We have a sure and certain vision and we want those who provide the funding to propel that vision forward to be properly rewarded for their role as enablers.
We believe this proposal will bring a powerful measure of strong incentive to own the GPP.  We are convinced, furthermore, that the GPP has powerful potential for price-growth, particularly given the tangible rewards, benefits and privileges contained within it. For clearly, the more successful our Project, the more valuable the GPP will become. Indeed, we anticipate the limited supply GPP token will see a significant rise in price and value. The Token will continue to circulate and trade on Blockchain market exchanges, and self-evidently grow significantly in value as the Project successfully completes stages 2 and 3.

Stage 2. The GBT token. AS GOOD AS GOLD.

August 15th, 1971 is the day Nixon stepped off the Gold Standard in a de facto announcement that the global reserve currency was no longer backed by gold bullion. So it is that for the past 47 years fiat currency, in paper or electronic form, has contained no intrinsic value per se. The same is true of cryptocurrency and tokens which have no backing, no intrinsic value. Until now!
We are excited to introduce the Gold Bullion Token (GBT), our proprietary and primary token, 100% backed by gold bullion. We are offering participants the opportunity to buy GBT on a direct par with the number of grams of gold bullion they would like us to buy and store on their behalf in our vault. Each single GBT token purchased by you in the GBT token sale is met by the precise equivalent number of grams of gold bullion purchased and stored by us, and in the following denominations: 1g, 2g, 5g, 10g, 20g, 50g, 100g, 250g, 500g, 1kg., In this way, intrinsic value and integrity is assigned to the GBT token. The GBT token is, quite literally, authentically, as good as gold.
Gold bullion advocates and owners are well versed in the operations of the paper gold market, and the concealment of gold bullion's true value by the mechanism of inflating the supply of paper gold to such ludicrous proportions that those paper contracts can never conceivably be redeemed for gold bullion. Those who understand gold bullion's traditional central role in the global financial world, and its continued role as the primary reserve for the BIS central banking system know precisely how to recognise true value in a medium of exchange. It is these knowledgeable gold bullion advocates who will ensure that the GBT’s value will be invulnerable and completely resistant to the dynamics which allow short-term wholly engineered paper gold spot price smashes by quick-profit driven hedge funds and bullion banks. When the price of paper gold is artificially lowered, GBT holders will have no incentive to sell their GBT token. The pioneering GBT is the very epitome of value, reliability and stability, retaining the true value backing of gold bullion.
The GBT will continue to trade at all times between buyers and sellers, and as such once the GBT initial Token offering has been concluded, the price of the GBT will be free to float at the value assigned it by those who wish to own a crypto-token which is directly redeemable for gold bullion. Its price will not be limited by the daily A.M and P.M gold fix price. That said, we are quite certain that the gold fix prices and gold’s spot price will put a floor beneath the GBT price. Indeed, the business model and the pragmatic aspect of purchasing gold bullion do not permit the purchase of gold bullion at a rate below its spot price. In the unlikely and irrational event that the GBT price were to be artificially lowered below the spot gold price, we will not purchase new gold bullion until the GBT price was back again on equal footing with the spot gold price. We will not serve those engaging in bullying, deceitful, manipulative and unethical acts to line their pockets at the expense of our genuine clients.
Indeed, we foresee instead that it is far more likely that purchasers of the GBT will bid up the price above gold’s spot price, in acknowledgement of the GBT’s inherent value and other benefits, including its free storage in London and beyond in privately-owned vaults.
There will be no predetermined hard cap on the number of GBT tokens available to buy. The number of GBT issued (and the corresponding amount of gold bullion purchased) will depend entirely on the degree of public interest and participation in our Project’s unique service.

Stage 3. The Proprietary Asset-Exchange Platform. Assets priced in GBT (1=1g gold bullion)

The Project's final stage envisions a proprietary trading platform where GBT token holders can elect to participate in the buying and selling of personal assets, 'priced' in the GBT (1xGBT = 1g gold bullion). This will be the very first trading platform where individuals' assets for sale are priced uniquely in a gold bullion token, our GBT, and its 100% privately vaulted gold bullion! This Project is not for those who fallaciously believe that paper gold contracts represent an honest and legitimate claim on gold bullion  We will never, under no circumstances, use any funds to purchase gold options, futures, nor ETFs. There will be no purchase ever of any paper gold promises, for we know those promises are lies.

At its simplest, the idea proposes that those participating in the sale of private assets price them in GBT. This is, of course, the same as pricing the asset in grams of 24K gold, for there is no difference between 1 x GBT and 1gram of gold bullion. 1 x GBT is 1gram of gold bullion, redeemable at any time the GBT owner so wishes. There is, indeed, no obligation to use one’s GBT to buy or sell an asset; instead one can simply hold on to the GBT in the secure knowledge that it is always redeemable for gold bullion.
When, 9 years ago, we first had the idea of an asset-for-gold bullion swap platform, we conceived of it as a place where wealthy individuals might exchange medium- to high-value assets for gold bullion. Today, we see no reason at all why the platform should not serve anyone and everyone with an asset they wish to sell in order to access gold bullion.
Since it is proposed that items for sale are priced in GBT tokens, there is no limit to which assets are suitable for listing for sale on our stage 3 platform. This is a unique, ground-breaking initiative affording international users the opportunity to trade assets across geographical borders for gold bullion payment.
We are convinced our pioneering Project has the potential to initiate a serious and very popular trend. Why sell and buy at auction houses or eBay and incur such outrageously exorbitant fees? We anticipate clients will hasten to our service instead, all the more so when their assets for sale are being exchanged for a GBT redeemable for gold bullion.
This trend will grow if given proper conditions which encourage that growth. Single, low, transaction fees provide fertile ground for this and are at the heart of the business. Our plan is to change behaviour patterns by creating a unique market place, affording brand new and unparalleled opportunity.
                                         
     THE BENEFITS

It is not just that our dynamic Project creates an international market place, open 24/7 throughout the world, bringing together a global clientele and an unlimited volume of individuals wishing to store gold bullion in the UK (and beyond) and/or to sell an asset for gold bullion via the ground-breaking GBT initiative.
There are many other benefits to be found in eliminating unnecessary intermediaries and their incessant and insistent fees. Consider for a moment the numerous and abundant fees and costs you would incur today in selling an asset in order to purchase gold bullion. There will be outrageously high auction house, eBay or other selling exchange fees. There may very well be additional forex fees and commissions, other hidden taxes awaiting you, not to mention the premiums which are attached to every single purchase of gold bullion you make. Clearly, these endless and extortionate fees inhibit trade. Our model removes those elements which make the selling of private personal assets so prohibitive, as potential sellers baulk at ludicrously high fees.

Our unique GBT system of pricing and payment does away with those vast number of  intrusive fees, the endless theft of value in the selling of an asset and purchasing gold bullion. What the GBT offers instead is the unique opportunity for a seller to price an asset in grams of gold bullion (the GBT) and a GBT token holder who is prepared to pay for that asset in grams of gold bullion (GBT). A simple transaction free from interminable unnecessary fees and commissions,  incurring instead the stunningly low platform transaction fee of just 1% of the value of the trade. In today’s world, a 1% single transaction fee is almost inconceivable, so accustomed are we to paying ten or twenty times that 1%. Yet it is the one and only transaction fee which we will take, and it will, additionally, be capped at £5,000. We invite you to compare the benefits of a global community of asset buyers and sellers, trading on a platform for a 1% transaction fee with the current state of limited clientele, local auction houses, charging fees of 20%. Why would anyone consider selling an asset at auction or on eBay when it can be sold on our asset-exchange GBT platform at such a heavily reduced single transaction fee?
We have for many years now been in direct contact with many overseas gold owners who have expressed a deep concern, fear indeed, that their government will act to again introduce a gold bullion confiscation policy. particularly at a moment of intense international tension or when there is a gold bullion revaluation. It goes without saying then that, for international participants, the purchase of GBT is precisely the same as storing their gold bullion in our vault in the UK. In a similar vein, we have engaged in lengthy correspondence with many overseas gold owners who are concerned about transporting their gold bullion overseas to the UK or other countries. Our system allows investors to seamlessly divest of gold bullion holdings at home, purchase the GBT, and take direct possession of their GBT gold bullion stored by us in our vaults.

The benefits inherent in the GBT’s robust structure and function can not be underestimated. The GBT is not a paper gold lie; it is the very opposite. It is free from fractional gold bullion banking. It is free from the bullion banking unlimited paper gold supply scheme which renders more than 99% of those paper gold contracts irredeemable for gold bullion. The GBT is an authentically good-as-gold-bullion token. The GBT is gold bullion.

We firmly believe that the full advantages of the proposed  service will be abundantly clear to gold advocates, and others, and are so attractive as to make a compelling case for vast numbers to participate..

   THE PROCESS

As outlined above, we start, naturally, with the launch of our project’s GoldPayProject Token for the purpose of funding the purchase of gold bullion storage vaults and to employ the very best team of software designers, tasked with creating a state-of-the-art GBT platform. Given the global demographic nature of the clientele we predict will use our GBT platform and its unique function, we understand full well it is of paramount importance that the most talented experts in the field are employed to create a platform operating system which reliably safeguards and protects users' privacy and highly sensitive personal details

Following hot on the heels of this will come the launch of the GBT sale. Once completed, every cryptocurrency ‘penny’ of the funds received for the purchase of the GBT will be spent on buying and storing gold bullion bars directly equivalent in grams to the number of GBT purchased.
This brings us then to the final stage of our Project. The launch of the ground-breaking GBT platform. It is envisaged that gold bullion owners and advocates will hasten to make use of the opportunity to offer for sale their private assets. This unique capacity provided by the GBT platform affords participants the complete reassurance that the transaction in GBT directly represents ownership of the primary store of wealth and value, gold bullion. We foresee that participants will be deeply attracted by the enormous cut in transaction costs which using our GBT token and platform bring. Our 1% fee for completed GBT platform trades is outstanding value, introducing an ethos of unparalleled fairness in 3rd party transaction fees, bringing to a halt the theft of value from buyer and seller’s trade.

Timing of the 3 stages is scheduled to take place as follows:

The launch of the GPP token will take place on the 5th January, 2018. A company will be formed at Companies' House, London. Platform creation software team employed; vaults purchased.
The launch of the GBT token will formally take place on the 20th February, 2018. Gold bullion equivalent grams will be bought and stored in the company vaults.
The launch of the proprietary platform for trading assets for gold bullion will take place in June, 2018.  GBT token owners will start to list their personal assets for sale in GBT denominated grams of gold bullion.
We anticipate that users of the system will, most typically, be selling such relatively popular items as watches, cameras, Art, antiques. However, we foresee that participants, aware of the opportunities offered by our unique service may equally likely offer for sale expensive cars, or even real estate. At a low transaction fee, and with the additional £5,000 transaction fee cap, our service is a unique and extremely attractive proposition.

Consider, too, the more generalised effects of eliminating preposterously high exchange and auction house fees. Such excessive fees have doubtless prohibited many sellers from proceeding with the sale of assets. We believe that there are vast numbers of potential asset-swappers who would leap at the opportunity to divest (particularly for payment in GBT gold bullion) if only they could find a service providing transparent and low transaction fees. We will provide that unique asset payment opportunity and accompanying low fee service. Our pioneering project will bring this new method of trading and exchanging assets to an  international clientele, and we are convinced that the growth potential for this service is exponential and unlimited. We provide a compelling case for the exchange of high-value assets via our service. We are enthusiastic, and determined to make a success of this venture. We are convinced we have identified how to make the service we will provide benefit from the fertile ground it treads and we are in no doubt that the vast benefits and opportunities at the heart of our Project ensure that our services will be widely-used so as to becomes a byword for the international trade of personal assets, uniquely priced in the store of wealth par excellence, gold bullion.

  THE FUTURE: UNLIMITED POTENTIAL

Thus far, the business concept has been put to close contacts in the gold bullion community. These include very wealthy individual gold investors and those who have been at the very heart of the gold bullion industry Without fail, the response to our proposal has been both extremely positive and enthusiastic But funds are needed to get this concept off the ground. We need the very best team to design extremely safe and complete privacy assured platform.
We believe that our unique business idea affords an equally unique opportunity for constant and impressive growth. Gold bullion will never relinquish its true role as the store of wealth par excellence, at the very core of the international monetary and financial system. Anyone who doubts this, who has swallowed the propagandistic deceits that gold is useless/inedible/a pretty yellow pet rock, would do well to ask themselves what possible purpose could the central bank system have in retaining gold bullion as its primary reserve asset of choice.
Our hopes and plans for the Project do not end with the successful implementation of the GBT platform. Depending, of course, on the public demand for and participation in  the services our ground-breaking initiative provides, we plan to set up vaults in other countries, e.g. Switzerland, and Singapore. Indeed, the potential to expand geographically the gold bullion vaulting service is limitless.
We plan, additionally, to venture into the gold scrap market and gold bullion refining at the earliest possible. We are currently in talks with a major UK gold bullion company about special terms available to us when purchasing large amounts of gold bullion bars. We are extremely happy with the progress being made in those talks. The capacity to refine our own gold bullion bars and coins would, naturally, be a major benefit to the Project.
We will, of course, at all times protect our ground-breaking business project with both legal measures and by ensuring that we retain an unshakeable ethos that any competition will elicit a vigorous and determined response to ensure that we offer a service which rises to all and any challenges by improving on any terms our competitors might offer.

The more the business grows, the larger the clientele, and the greater the number and variety of assets available to trade, of course. Such growing client participation implies rapid-growth potential in GBT platform trades, attracting ever larger numbers of participants who recognise all the benefits available to GBT holders, in addition to the unique service allowing assets to be priced in grams of gold bullion and redeemable directly for that stored gold bullion. The potential revenue figure for the business is unlimited.

 TEAM

The Project has been largely the vision of one man and trusted friends and fellow gold bullion advocates, who have shared it with the greatest gold market thinkers, and gold bullion owners, big and small. Every one of those sources has been most insistent in encouraging us to pursue this Project and to bring the opportunities herein to the gold bullion investing public.
There is, as yet, no team of business advisors, marketing and advertising experts, and software development geniuses. I am told that the team is a critical part of the White Paper. I confess I don't really understand very well why that should be the case. We have no interest in participating in an artificial, shiny presentation marketing campaign, nor in painting prettily-coloured pie-charts detailing what percentage of funds contributed to building the Project will be filling the pockets of marketing mercenaries and other schmoozers. This is our and your Project and we are not putting it in the hands of exploitative agencies. We will deploy all founder funds directly to build the necessary infrastructure, purchase the vaults and hire top software engineers to ensure our GBT platform guaranteed participants’ safety and privacy. For us, our innovative, ground-breaking Project, and the services it provides, does not need seductive marketing tools. Our proposal's qualities and inherent and natural appeal speak loudly for themselves, and we are happy to have the Project judged by its capacity to interest future participants on the basis of the services proffered and the idea alone. You are invited to join us, and work together with us to make this innovative vision become a reality.
KJ, PT, ET, RV, DB, MG
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