WHY GOLD?
SECURITY
THE "OLDEST CRYPTOCURRENCY"
Gold is probably the oldest cryptocurrency in the world. Why is that? Creating gold from something other than gold is just as impossible as creating a copy of a Bitcoin today. The physico-chemical nature of gold guarantees the inviolability of its deepest nature.
But gold not only has a unique molecular nature: over the ages, it has also become a universally accepted currency, whose supply and demand (and thus value) has not been controlled or directed by any public or private institution on a sustainable basis. Almost everyone has appropriated gold to some extent, but no one has ever really managed to control it on their own.
Even the United States, which had tried to control gold by using it to support the dollar from 1944 to 1971, failed. In fact, that effort actually backfired for the country.
Since the dawn of civilization, gold has been the most widely used reference in trade. This precious metal has been part of human life beyond anything we can historically remember. From its first use as an ornamental object, its malleability allowed the first forms of society to make coins out of it.
And today, the blockchain has allowed us to subdivide gold ingots into tokens uniformly.
VALUE
AN INTERNATIONAL LEGACY
Throughout history, with times of crisis, it has been a safe-conduct for many people. To protect themselves from inflation, a way to maintain value across borders, to show the stability of their capital, gold is a refuge. And even if there is no crisis to face, no border to cross, and no instability in the markets, gold can be a way to capitalize for the future. And with luck, transfer it to the next generation as a kickstart for their lives.
Because the use and possession of gold is now very broadly legal around the world, even in conflict-riddled countries, it now makes for an ideal fallback position, if for example the use of cryptocurrencies should become limited, or even prohibited. The gold offered by VeraOne would then provide the perfect temporary or permanent substitute, without having to go through fiat currencies, that you may want to avoid under certain circumstances or that you simply may not wish to procure.
SUSTAINABILITY
THE BEST REFUGE
To this day, it is practically impossible for you to know the real value of your money. With an ever-growing inflation of it. Whether its USD, EUR, or Indonesia rupiah, banks are only required to hold a fraction of the amount their client store in them. Gold does not work that way, gold institutions are required to have the exact amount of the deposited capital in their vault, and some tend to have more to prepare for massive shifts in the market.
The group that created VeraOne has been the leader on the French market for gold sales and purchases beginning in 2009, offering storage in high security vaults. Since 2012, we have also become well accustomed to the tokenization of valuable tangible assets.
In 2016, we successfully conducted a blockchain project dedicated to securing our product registers. And so, issuing a stablecoin was the next logical step for our business, allowing us to extend the benefits of our vast experience with precious metals and the digitization of tangible assets to our users, without any loss of counterparts. As a result, we have the oldest gold-backed token, and it has now become standard procedure to make it safely negotiable by means of the Ethereum blockchain.
Given the quantity of gold which we store for our clients today, if our group were a country, we would be amongst the top 90 countries holding gold on behalf of their citizens.
BUT THEN, WHY A GOLD-BACKED CRYPTO?
The 1974 Nobel Laureate in Economics, Friedrich Hayek, would have loved cryptocurrencies, that he would have seen as the ultimate fulfilment of his theory. According to that theory, currency should be neutral, and this is completely incompatible with management by the State, that necessarily orients currency according to its needs, those of its economy, or even of its ideology.
With the volatility of the crypto-assets market, the future is not always certain. We are all amazed by the power of the technology behind it, but we assess with uncertainty the reality of coins, and other tradable cryptocurrencies. That is why we want to extend the reason of existence of gold.
CRYPTO-GOLD : AN ANTI-VOLATILITY ASSET
We want to make it available for the crypto environment, with as much liquidity that is possible, by creating a gold backed cryptocurrency. We do it for people like you! To be able to seek a shelter rapidly when the rain starts to fall, and to go straight back in the wild when the sun starts to shine again!
THE VERAONE : THE ONE AND ONLY
The VeraOne stablecoin stands for a more liquid, more secure market. By making the cryptocurrency market a more socially responsible environment, we hope to enhance trust in the digital assets, for its democratization. Making coins stable is making the market stable.