Introduction
Blockchain technology has continued to expand over the years with the launching of innovative projects, which have amazing features. There has been no token in the cryptocurrency market backed by a hard asset, which helps to maintain the value and demand of such token. Melecoin is the first blockchain project to create a digital asset supported by a hard asset, Gold. Melecoin Investment Limited, which is based in the serene city of Riyadh, owns the Melecoin blockchain project. The primary objective of the project focuses on ensuring the security of the assets of its customers by adopting physical gold. This objective extends to giving users the advantage of moving their fiat currencies and physical in real-time and in a secure manner backed by the blockchain technology, which gave birth to the Melecoin token system.
The reason why the development team and owners of the project decided to back fiat currencies and digital assets with a hard asset is due to the effect of the market forces such as high volatility and liquidity, on cryptocurrencies. While Melecoin investments have been involved in the crypto market for some time, it recognizes these forces pull down blockchain networks and they planned to introduce a cryptocurrency supported by gold. The founders acknowledged the importance of having a hard asset, gold bullion, support their cryptocurrency, as this is capable of offering users an efficient, safe, and secure asset. More so, such a secured and protected platform will be responsible for protecting the system against the volatility of currencies and it will provide global and easy access to liquidity in any currency. The company has a plan to produce 30 metric tons of gold every year dedicated to the Melecoin project for their token system. This production will be done in agreement with the manufacturing company accredited by LBMA.
Since the ancient civilization, Gold has been among the most precious and valuable materials that represented royalty and used to carve monuments and bracelets. It was also one of the earliest mediums of exchange, and it formed the framework of business, and often showed how dominant and strong an empire can be by possessing it. This shows how man has always been attracted to Gold and why it is valued tremendously. We can unarguably state that the stability of the hard asset, concerning science and the economy, over a long period, remains unbothered. Over the years, powerful nations and individuals have stored their wealth and assets in gold due to their steadiness and protection against market forces. Gold is a physical asset that is invulnerable to political improbabilities, market restrictions, inflation, monetary emergency, and volatility. Even as there is no fixed fiat currency price for gold, most central banks of governments still store most of their national fiat currencies in significant gold assets, to protect their currency from likely uncertainties from unlikely market interferences.
With this high level of protection and value provided by gold, developing a cryptocurrency backed by it will ensure that such an asset evades all potential market risks. Coupled with blockchain technology and a decentralized system, the Melecoin project has developed a cryptocurrency that will be supported by a tangible physical asset, and this will be Gold. A fintech company in the United Arab Emirates owns Melecoin and they have designed a cryptocurrency that can provide ease of making transactions involving gold, reducing the bulky nature of the asset and burden of moving large bullions of gold across borders. More so, the cryptocurrency will be protected against price fluctuations and liquidity. The company also envisages the launching of the Gold crypto debit card, which will operate as on its digital platforms as a medium of making payments.
Through the combination of blockchain technology, decentralization, and physical gold, this company is creating the first cryptocurrency backed by a hard tangible asset. Melecoin will be capable of ensuring the creation of a business platform that offers the best and efficient alternative to purchasing real goods and services. In like manner, this platform will ensure an advanced level of safety and security against unfriendly market forces. The company intends to extend its business operations from the GCC market, which covers the Middle East, and connect to other major markets around the world.
Benefits of Melecoin Project
We have stated the glaring advantage of this blockchain-based platform, which covers the protection against volatility, political indecisions, and economic emergencies. However, the benefits spread out to other salient applications and the type of services users can enjoy on the network. The decentralized system offers subscribers a platform to perform their exchanges and transactions without interference by an intermediary.
Some services provided to Melecoin users on the project include:
Token Transfer:
Users can perform the transfer of their digital assets from the accounts to any ERC-20 compatible wallet.
MT4 Registration Request:
Melecoin provides users with the benefit of registering for MTG.
Trading Platforms:
Subscribers on this platform can perform peer-to-peer transactions and exchange their crypto coins or fiat currencies for gold or other currencies.
Purchase Platforms:
There will also be an avenue for investors to purchase crypto coins.
Selling Platforms:
Subscribers can sell their tokens or gold with ease, without worrying about the market changes.
New Payment Methods:
Users will have the advantage of choosing from a variety of payment methods on the Melecoin platform.
Conclusion
We have always witnessed the inconsistencies related to fiat currencies, this is seen in how the price continues to fluctuate due to economic or political alterations. However, the value of hard assets such as gold has remained immune to these changes and fluctuations. With the token system, which supports assets in gold and gives users the leverage of storing their currencies in gold; we can be certain that the fiat money can withstand some of these changes. More so, integrating blockchain technology and a cryptocurrency saves clients the stress of moving heavy bags of gold whenever they want to sell or make purchases. Melecoin platform offers both the protection of blockchain, high transaction speed, and the value of gold.
USEFUL LINKS
Website: https://melecoin.net/
Whitepaper: https://melecoin.net/images/wp/EN.pdf
Telegram: https://t.me/Melecoincommunity
Facebook: https://www.facebook.com/MELECurrency
Twitter: https://twitter.com/melecoin
Medium: https://medium.com/@melecoin.net
LinkedIn: https://www.linkedin.com/company/melecoin
Instagram: https://www.instagram.com/melecoin/
AUTHOR'S DETAILS
Bitcointalk Username: Pullorient
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2767518
Proof of Authentication: https://bitcointalk.org/index.php?topic=5293754.msg55720446#msg55720446