Puregold was established in 2010 as an e-commerce store selling value-added gold and silver coins and bars. Puregold.sg is headquartered in Singapore.
PureGold is the First Payment Gateway using Gold-Backed Cryptocurrency, that makes it very reliable and secure. Puregold ICO of PGT is officialy conducted in two phases – Pre-ICO and ICO. The targetted maximum number of PGT that will be minted for Pre-ICO and ICO is set at 50,000,000 tokens. ICO started from January 15 and will be to March 14.
Puregold offers two digital tokens, PGT and PGG, running on two separate ledgers. PGG works through a digitized cryptoasset whose cryptocurrency value is based on physical gold. Puregold sets PGG at the current market price for physical gold set on the London Bullion Market Association (LBMA). The company uses physical gold (of 999.9 quality) as its security. Puregold’s gold reserves equal or exceed its circulated amounts of PGG.
PUREGOLD PLATFORM
The platform has several features, such as Users can transact, buy and sell their cryptocurrency in the market provided by PUREGOLD. People will be able to save, spend and exchange Gold in the same way as other currencies, but in more renewable, fast, cheaper and safer ecosystems than is available now in traditional banks or paper currencies. The PUREGOLD platform provides 2 tokens as a valid payment instrument within the Platform; firstly, PGT can be used for transactions and second, PGG as digital physical gold form. PGG is a digital gold issued by Puregold and fully follows the current global gold price and has been certified for authenticity. For the sake of security of digital gold deposited on the PUREGOLD Platform, Safe House Pte Ltd is selected as a third party company that directly deposits the gold contained within the PUREGOLD Platform. The PUREGOLD team also developed a card that can be used to store PGG and PGT and can also be used as a transaction tool at PUREGOLD Machine Dispenser. The PUREGOLD team developed the Platform using Blockchain technology and the Ethereum smart-contract system, which ensures every transaction is fast and secure. Puregold will commence its operations by sending Gold’s best current mobile money payment application. With this mobile app, PUREGOLD hopes that Users can make payments safely and quickly through the devices they use.
Puregold is using Ethereum platform as it is currently the most widely accepted platform which offers all the benefits of a blockchain (full traceability, non- repudiability etc.) and multiple source language implementations that encourage integration. Ethereum will handle only the parts needing consensus, transparency and accountability. Other services will continue to be provided using existing technology.
Ethereum
Puregold is using Ethereum platform as it is currently the most widely accepted platform which offers all the benefits of a blockchain (full traceability, non- repudiability etc.) and multiple source language implementations that encourage integration. Ethereum will handle only the parts needing consensus, transparency and accountability. Other services will continue to be provided using existing technology.
Puregold needs a transactional blockchain with a powerful system of smart contracts which have the ability to ensure that a transaction can combine with the results of previous transactions to provide auditable consistent results. To date, Ethereum is the only stable system that has achieved widespread adoption
Token Swap
At the Token Swap launch the PGT will be offered at 1 ETH = 700 PGT.
Participants are given PGT Tokens immediately upon confirmation of the
transfer of ETH.
1 PGG Token will be given free to participants for every 1 ETH swapped. PGG given will be rounded down to the nearest denomination. For example, if 1.1 ETH is swapped, 1 PGG token will be given.
Issuance of PGG tokens will be done after the entire Token Swap period is
over.
Token Swap target is set at 50,000,000 PGT.
The minimum target is set at 10,000,000 PGT. If this target is not met, participants’ ETH will be returned to them.
PGT Issue Size 50,000,000 PGT tokens to be made available to participating parties on puregold.io website.
Budget & Use of Funds
Team
A majority of us are extremely well travelled Singapreans with an Asian and Global mindsets. From the East to the West, our team members bring to the table a diverse range of top-expertise, knowledge and experiences from Finance, Asset Management, Technological, Marketing and Communication. We've built an amazing team at Purgold.io that will make our vision come true.
CONNECT WITH US
WEB: https://puregold.io/
WHITEPAPER: https://puregold.io/doc/Puregold%20ICO%20White%20Paper%20v1.0.pdf
TELEGRAM: https://t.me/joinchat/G6LYPxIjyzw5AOX7f1BVRw
TWITTER: https://twitter.com/PuregoldICO
FACEBOOK: https://www.facebook.com/puregoldio/
ANNBitcointalk: https://bitcointalk.org/index.php?topic=2687883
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