A brief history of Gold
Since the dawn of civilization, gold has been the most used reference in trade. This precious metal has been part of human life further than it is possible to historically remember. From its first use as an ornament, its malleability allowed the first forms of society to mint gold coins out of it. Along with its ease of use by the early civilizations, its chemical nature prevented the metal from rusting and allowed commercial long distance travels.
This revolution in the first use of physical properties of a mineral for mercantile purposes created the two prerequisites for money to be minted :
- The trust the user put in the system emitting it
- The trust the user put in it as a form of payment
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.
A brief history of Gold
Since the dawn of civilization, gold has been the most used reference in trade. This precious metal has been part of human life further than it is possible to historically remember. From its first use as an ornament, its malleability allowed the first forms of society to mint gold coins out of it. Along with its ease of use by the early civilizations, its chemical nature prevented the metal from rusting and allowed commercial long distance travels.
This revolution in the first use of physical properties of a mineral for mercantile purposes created the two prerequisites for money to be minted :
- The trust the user put in the system emitting it
- The trust the user put in it as a form of payment
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.
Gold, the reserve of value
To this day, it is practically impossible for you to track the real value of your money in your bank account. With an ever-growing inflation of fiat currencies, it becomes hard to track down the value of your capital whether you hold USD, EUR, or IDR. Even the attempts in the 20th century by the United States of America to back their dollars by gold failed, and for a simple reason. Gold is international and cannot reflect only one country’s economy. That is why the gold spot price is the same everywhere.
As beautifully said William F. Rickenbacker “Gold would have value if for no other reason than that it enables a citizen to fashion his financial escape from the state.”
The continuous monetary policies since this separation between the dollar and gold in the past century has allowed banks today to only hold a fraction of the amount their clients store. Gold operators don’t work that way, we have much higher standards and are required by financial institutions to have the exact amount of the deposited capital in our vaults, and some tend to have more to prepare for massive shifts in the market.
On top of this, Gold has been a hereditary reserve of value. The same amount of gold allowing you to buy a brand new Ford T in 1901 is now allowing you to buy a Tesla Model 3 today. The same way, a cow is worth the same amount in gold as a century ago. Not only gold always kept its value, it fulfilled its purpose for centuries.
Gold, the reserve of value
To this day, it is practically impossible for you to track the real value of your money in your bank account. With an ever-growing inflation of fiat currencies, it becomes hard to track down the value of your capital whether you hold USD, EUR, or IDR. Even the attempts in the 20th century by the United States of America to back their dollars by gold failed, and for a simple reason. Gold is international and cannot reflect only one country’s economy. That is why the gold spot price is the same everywhere.
As beautifully said William F. Rickenbacker “Gold would have value if for no other reason than that it enables a citizen to fashion his financial escape from the state.”
The continuous monetary policies since this separation between the dollar and gold in the past century has allowed banks today to only hold a fraction of the amount their clients store. Gold operators don’t work that way, we have much higher standards and are required by financial institutions to have the exact amount of the deposited capital in our vaults, and some tend to have more to prepare for massive shifts in the market.
On top of this, Gold has been a hereditary reserve of value. The same amount of gold allowing you to buy a brand new Ford T in 1901 is now allowing you to buy a Tesla Model 3 today. The same way, a cow is worth the same amount in gold as a century ago. Not only gold always kept its value, it fulfilled its purpose for centuries.
Why a gold-backed cryptocurrency ?
Up until now, owning gold meant taking the risk of owning it at home, and the possibility of losing it in many ways. Your only alternative was to put it in a bank, meaning clostly fees along with overwhelming processes to log and keep track of your assets. Finally, gold is heavy, you couldn’t in any way move it from one place to another easily.
Owning digital gold is then the best alternative ! We made it so you can benefit from it anywhere in the world, with the highest liquidity and with the possibility to buy only a fraction of a gold ingot ! The power of the blockchain is to keep track of your gold allocation at any time of the day, anywhere, for free.
Why a gold-backed cryptocurrency ?
Up until now, owning gold meant taking the risk of owning it at home, and the possibility of losing it in many ways. Your only alternative was to put it in a bank, meaning clostly fees along with overwhelming processes to log and keep track of your assets. Finally, gold is heavy, you couldn’t in any way move it from one place to another easily.
The future of gold.
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 for the existence of gold. Not only we want to make it available for anyone and in any way possible but we also want to provide the cryptocurrency market with a real stablecoin. One backed by an asset that makes a statement : your savings should not be depreciated and we will keep it that way.
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! Investing in cryptocurrencies is now a risk that you can take with a token backed by gold bullions.
At VeraOne, we stand 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.
The future of gold.
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 for the existence of gold. Not only we want to make it available for anyone and in any way possible but we also want to provide the cryptocurrency market with a real stablecoin. One backed by an asset that makes a statement : your savings should not be depreciated and we will keep it that way.
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! Investing in cryptocurrencies is now a risk that you can take with a token backed by gold bullions.
At VeraOne, we stand 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.