Few issues have survived for so long as gold, and few probably will. Ever because the daybreak of historical past, people have been drawn to the valuable steel to retailer worth, transact, and even maintain non secular ceremonies in (alleged) communication with deities.
Evolving with the occasions
Expertise takes issues to surprising locations, and even one thing as perennial as gold hasn’t been immune to those adjustments. We don’t transact with gold anymore, though we proceed to acknowledge its worth (and even, in some instances, begin to suspect that we should always return to utilizing it as forex). And, transferring from gold to ones and zeros on a display screen, we tried nearly all the things.
Nevertheless, nothing appeared to be nearly as good a match for us as gold.
Gold has many distinctive traits, optimistic and adverse, though the previous outstand the latter. It’s divisible, sturdy, fungible, has confirmed itself by time, and may hardly (and never reliably) be faked. Fiat and even paper cash can not compete with this. Though gold is tough to move, not fully liquid, and non-portable, it has continued to beat inflation merely due to its intrinsic worth.
Then, crypto got here alongside
Cryptocurrency’s best energy is that it might succeed, through programming, to duplicate gold’s pure benefits. In the fitting settings and beneath the fitting situations, we are able to even use it to signify bodily gold possession. And, by combining each sorts of super-assets, gold can develop into simple to transact with, retailer, and extremely liquid.
V999, a cryptocurrency created by consultants in treasured metals, is an ideal instance of this. Because of its founders’ experience in worldwide commerce and blockchain expertise, V999 is setting a brand new normal for what asset-backed tokens are alleged to be. Each V999 token is backed by 0.1 grams of gold at London’s repair worth. It can be divided as much as 1/one thousandth of a token, making a pleasant system for even the smallest of customers.
However, the place’s the revolutionary half?
2020 noticed crypto’s (nicely overdue) explosion of progress beneath the success of DeFi and apps like Uniswap. All of a sudden, the ecosystem appeared to appreciate that programmable cash additionally concerned a myriad of various methods to program, automate, and develop its large potential.
Because of this paradigm change, many, together with V999, are making a change in the way in which we consider enterprise fashions, seasoning them within the spirit of the crypto group’s values. V999 goals to create an ecosystem the place retail buyers and companies, even governments, can profit from one another’s transactions apart from investing in priceless belongings. Subsequently, it introduces a profit-sharing system that rewards small customers for utilizing V999 to make transactions with gold whereas sharing comparable advantages for its prime gamers. V999 additionally goals to generate enterprise-level adoption with a devoted staff specialised in tailoring options to suit corporations’ wants. The community makes use of the Stellar blockchain to ensure the velocity of transactions.
The occasions are altering.
It’s all the time refreshing to see expertise bringing optimistic change together with it. With new instruments come new options and distinctive philosophies, and V999 can undoubtedly be an instance of how enterprise fashions are reinventing themselves as we enter the Blockchain era. We certain hope we are going to proceed to see reinventions of standard ideas come round, all the time with a twist that favors the retail investor!