The convective banking system has numerous problems and shortcomings that have led to several companies and businesses experiencing limitations and difficulties. Banks controlled by central authorities insist that customers make payments or transactions with them as intermediaries, resulting in high fees. In addition to the expensive fees associated with reliance on conventional banks, problems of limiting cross-border payments or transactions also affect the banking system, which is fatal for companies wishing to negotiate with international parties for higher profits. In the hope of finding a solution that can counteract the problems of the centralized banking system, the blockchain was introduced.
Blockchain technology introduced in 2009 serves as a system for monitoring and recording transactions in databases. Blockchain consists of blocks that contain transactions where each of these blocks is linked by cryptography. This makes it impossible to hack or change data without changing the entire structure of the databases. The introduction of blockchain has enabled cryptocurrencies such as Bitcoin, Ethereum, etc. to enter the global market, where their reliance on the blockchain network allows crypto currency users to monitor and track large transaction volumes. The cryptocurrency is gradually becoming a trend as it has been developed to eliminate the difficulties of convective investments and exchanges. Cryptocurrency has been shown to have some limitations that are detrimental to businesses, traders and investors. The main problem with the cryptocurrency is the volatility. As a result, the worldwide adoption of cryptocurrencies is in a slow phase as no-one wants to use an asset for payments or business transactions when the asset price is unpredictable and changes more than twice a month.
This issue of cryptocurrencies has led some experts to conduct extensive research and experimentation to find a suitable method for improving the cryptocurrency market. The solutions from the experiments produced the use coin, security coin, asset-backed coins and hybrid coins. The other coins besides the hybrid coins are well known in the field of cryptocurrency because they offer unlimited benefits beyond their purpose. But what if you had an asset that had either the features of a security coin and an asset-backed coin or asset-backed coin and a use coin, or more. The answer to this question came in the form of the hybrid coin.
Although the hybrid coin is new to the cryptocurrency market, it certainly has promising properties, and you could get these valuable coins through Secured Gold Coin (SGC).
WHY SGC?
Most of the companies offering gold-backed digital currencies are reluctant to store any physical gold for avoiding the headache of security or any other risk involved. Moreover, they do not want to be dependent on any third party to get involved in their systems to ensure the security of their gold reserves. Secured Gold Coin with its partners, is ready to face the challenges as they store physical gold in a secure vault. Thus, when you become the user of SGC coins, the physical gold equivalent to 60% part of your initially released SGC coin will be attached to your wallet address and displayed on the SGC Blockchain Explorer. So whenever a user buys SGC coins, a gold certificate is attached to the wallet address of the user. Once the certificate is issued, the wallet address shall remain the same even if its traded to other addresses. Which means that the price and quantity of gold mentioned on the certificate against the SGC coin being purchased, will remain the same and cannot change on the re-selling, valuation, or devaluation of the same coin.
Goals
Other than our key objective of providing a universal cryptocurrency for the users to trade hybrid digital assets (asset + utility), and make payments, we are looking forward towards the goals that will lead the SGC coin to become global. With our SGC PAY Debit Card integration, the SGC coin will be adopted as mainstream. The SGC PAY will open new ways of spending and sending SGC coins. The SGC Online Shop aims to provide ways of utilization for our hybrid (asset + utility) coin. And finally listing our coin on global exchanges will make trading easier for the users.
Challenges in Bangking System
In the banking system, there are several monetary issues specifically in the cross-border payments settlement which is the base of our businesses today. The system has many inherent flaws and challenges that we need to overcome. Many of our businesses are struggling because of the drawbacks of our conventional banking system. The centralized banking system has been the root of the challenges. Banks being controlled by a central authority who demands the users and businesses to be dependent on it. So, even if it is a cross-border payment or even a transaction of one’s money from the banks, one is dependent on the banks to perform the transaction which also charges heavy fees in turn. These high fees in itself are not favourable for businesses as they gallop a part of the company’s profit.
SOLUTIONS
SGC Coin is not just an asset backed cryptocoin rather it works as a hybrid coin. On one hand, its initial release is 60% backed by physical gold on the other it can be used as a utility coin on our E-commerce platform, be traded on exchanges or can even be integrated with our SGC PAY Debit Card for further payment options. To make the currency available everywhere you go, SGC has introduced various methods for SGC usability. These options make SGC available for you as and when required according to your need and choice. From making payments on online e-commerce platforms to paying on point of sale with SGC PAY Debit Card, from trading to sending and receiving of money from mobile application SGC coin has got all options to make the SGC user content.
More about Secured Gold Coin
Secured Gold Coin also serves as an anonymous and more efficient means of purchasing and investing gold without losing the monetary features of your investment unlike conventional methods of investing in gold.
Secured Gold Coin also has a native marketplace to facilitate seamless purchases and exchanging and charges no transfer fees. It employs secure technology in ensuring investment security by ensuring that all interactions are processed on the Ethereum infrastructure via smart-contracts.
Conclusion
The part of quality and quantity
To to be able to reach a larger market — both cryptocurrency and gold investors, it is necessary for Secured Gold Coin as a platform to employ the services of expert digital marketers and influencers to drive traffic to their social media channels while creating an engaging online community.
Featuring the platform in top media publications like Forbes, Yahoo Finance, CCN, CoinTelegraph, Investing.com, and Hackernoon which have a large reader-base could prove invaluable in bringing Secured Gold Coin to the attention of potential investors.
Also, the inclusion of more incentivized community activities directed towards increasing the online presence of Secured Gold Coin would serve to further increase the project’s online visibility.
Realizing that all great things take time, I believe that in the nearest future, Secured Gold Coin will become one of the most preferred means of investing in the highly liquid and profitable gold markets.
As an investor, I would always seek to use more transparent platforms that are dedicated to improving their brand through partnerships, security audits, and regular community updates.
I had to take my time to outline the differences to inform individuals interested in investing in gold via cryptocurrency realize that although platforms similar to Secured Gold Coin exist, Secured Gold Coin offers numerous advantages over existing alternatives.
More Information
Website : https://www.securedgoldcoin.com/
Whitepaper : https://www.securedgoldcoin.com/file/SGC_Whitepaper_V_1.0.1.pdf
Twitter : https://twitter.com/SGC___official
Facebook : https://www.facebook.com/sgccoinofficial
Linkedin : https://www.linkedin.com/company/sgc-official/
Telegram : https://t.me/securedgoldcoin_SGC
Medium : https://medium.com/@SGC_official
Author : Jody.Drummer
Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=870180
SGC wallet : 0x7dAfaC661A892B7495cFab416B8c1b4FF46A203e