“Cryptocurrencies are a bubble and will eventually fizzle out after breaking a few million hearts.” Seriously, how many times have you heard this or its variation before? More times than you’d care to count, I’m sure. And yet, there is a sense of euphoria mixed with apprehension that is driving the exciting new market of cryptocurrencies. So what’s driving (or bringing down) the crypto market? The same things that drive the traditional financial markets – human idiosyncrasies.
But before I go into details, please understand this. Cryptocurrencies are here to stay. Their future is extremely safe and secure they will radically, though gradually, revolutionize the future of finance as we know it.
Before a self-apointed expert scoffs at the idea of an alternative currency, let me share with you the biggest financial scandal of all times. The United States Dollar. Yes, you heard me right. People do not understand crypto because they believe that money is real. So if cryptocurrencies are imaginary or an illusion, what about the US dollar, the most powerful currency in the world, that is not backed by any tangible asset? If you can have faith in the US dollar, I see no reason for you to mistrust crypto.
Cryptocurrencies, like all other innovations poised to revolutionize the status quo, is also undergoing a process of natural evolution. And the next step in this evolutionary process is “asset backed tokens” or stablecoins. Stablecoins are backed by a physical asset, like real estate or gold, for instance; something with value that provides it the much needed stability in a fickle financial market. It also helps make them an attractive investment instrument by enhancing their appeal for wary investors.
Gold has always traditionally been the perfect hedge against market volatility and will now be available in a tokenized form as “Gold-2-Go.” This token has been introduced by Pecunio, a decentralized investment platform that allows safe and easy management of blockchain asset. The company and its “Pecunio Gold Coin” were recently featured in an interview with CNBC TV anchor Jane King at NASDAQ, clearly showing the strong institutional interest for such an asset. Pecunio also focuses on blue-chip blockchain assets with unique value proposition presented in a number of tokenized funds available on their platform.
With regards to the token, one Pecunio Gold Coin (PGC) represents exactly 1 gram of segregated, unallocated 999.9 fine gold from LBMA-approved refineries. In times of market turmoil, the PGC token will additionally be used as a tether, but with distinction to existent models of being asset-backed by real gold.
Pecunio Gold Coin is the newest #stablecoin and is poised to revolutionize crypto and traditional financial markets. While many projects are underway to create the perfect stablecoins, it has been found to be elusive at best. So while a Tether or a TrueCoin are created as stablecoins backed by US dollars, we already know the legitimacy of the USD itself. This creates an apparition rather than a true stablecoin. But by tying the value of a token to gold that by itself is relatively stable, Pecunio has brought the best of both worlds together.
Cryptocurrencies are a relatively new phenomena and just like any radical innovation, they will be scoffed at and will undergo “birthing pains” until the critical mass of acceptance is reached. However, the unprecedented fluctuations that Bitcoin or a LiteCoin experiences in a day greatly hampers their mainstream use. A payment of, say 1 BTC, could end up in the hands of the payee with its value either 20% less or more than what was intended, over the period of one block confirmation. While such fluctuations work extremely well in favor of speculators, they are more of an obstacle for cryptocurrencies to gain mass appeal and have any substantial financial implications.
However, stablecoins like the Pecunio Gold Coin, will provide measurable stability and security and help realize the true potential of the revolutionary blockchain technology. Pecunio are in the final stages of launching the Gold Coin and its estimated issuance is $100 Mn. Apart from the Gold Coin, Pecunio also has a range of exciting products like a universal crypto card, tokenized funds and crypto exchange. Their total targeted revenue by the end of 2018 is more than $20 Mn. Pecunio’s products and services cover the whole lifecycle of blockchain innovation, from angel & venture capital (AC & VC) investments and initial coin offerings (ICO), to exchange-traded cryptocurrencies and asset-backed tokens. What’s revolutionary about the Pecunio platform is, that it solves the problem of crypto spending and allows management of crypto assets in a safe and easy way.
What we will be witnessing in the coming future is a transfer of wealth, a sort of mass exodus, from fiat money to cryptocurrencies. When people realize the folly that is traditional currency, its intrinsic value and rethink the very idea of money, they will realize the potential of cryptocurrencies, and more so stablecoins, and physical assets like gold and silver themselves. Until that time, this is an excellent opportunity to get into the crypto market to invest in the future gold standard of currencies.
We are on the cusp of a revolution the likes of which human civilization has never experienced before. The very idea of money and its perceived reality is under serious threat. But there is nothing negative about it. Instead, the time is ripe for the world to embrace cryptocurrencies and blockchain technology and use it to bring about true distribution of wealth. This will usher in an age of financial prosperity that the most enlightened of our Fathers had dreamed of. Cryptocurrencies are a tribute to their vision and also a means to bring their dreams into reality. The future is calling, are you coming?
Written by J. Rathod
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