Puregold offers payment using cryptocurrency supported by gold

As a successful business operator in gold, Puregold is in a very strategic and pivotal position to support Puregold Gold (PGG), a cryptocurrency supported by gold, as well as to develop and expand the first payment gateway with Puregold Token (PGT) and PGG. PGG and PGT are two digital tokens offered by Puregold and run on two separate ledgers.

Puregold’s ICO is now live and is offering a 10% bonus. The company is also the first ICO to sponsor an EPL match: Bournemouth vs Stoke City.

Gold Commerce Platform

Puregold is building the Gold Commerce Platform for a digital gold payments era.

This platform will be fully supported with all the critical components:

Why Gold?

According to Elias Tan, CEO & founder at Bitcrypto.Asia and team member at Puregold, “It is very likely that whoever is holding on to Puregold Tokens would be very secure for the future especially whenever Bitcoin has a crisis as investors would revert back to gold as the traditional safe haven for crypto-crashes and crypto-crisis.”

Gold’s relative scarcity, portability (can be carried in small bars, coins or jewelry), and great demand in industrial applications, make it a highly desired commodity. The technology behind cryptocurrencies plays the driving force for fast, secure and transparent transactions. The digitization of gold solves the century-old issue of gold’s portability, as the blockchain makes the process quicker and easier helping to protect one’s gold, slashing expenses, and allowing the asset to be moved effortlessly across borders, all the while shielding gold investment from theft and loss. On the other hand, transaction processing for cryptocurrency against fiat-based goods is practically non-existent. This is an unsatisfied demand across a cryptocurrency capitalization that has already surpassed US$150 billion.

What are the advantages?

The advantages of using gold as currency over traditional fiat currencies are numerous and impossible for fiat currencies to match. Today a transaction between persons residing in different countries can still take several days and also cost the parties a significant share of the money transferred (the average cross-border transaction fee is 7.45%) as each party of the transfer chain, of which there are many, requires a small margin for their efforts. This can now be done in seconds using PGG via the blockchain for practically zero cost and more securely than ever before.

Even for those with a strong interest in new technology and better ways of conducting transactions, gold is still perceived as a stable and reliable investment instrument. The single most important step in moving benefits from the conceptual into the practical mainstream is to enable people to use gold in the same way they can with any other currency. This would mean the enablement of instant payments with gold currency as though it were cash or money.

People will be able to store, spend and exchange gold cheaper and in a more secure environment than what is available now in traditional banks or fiat currency. The Gold Commerce Platform will be the decentralized core that interlocks the restricted financial world we live in today, with a futuristic gold economy with limitless and borderless opportunities. Most of the technology for this financial revolution already exists: Apple Pay, Samsung Pay, Alipay; the world’s biggest banks and payment platforms have already installed more than 42 million contactless payment terminals throughout the world (a number that is growing rapidly).

Puregold will take full advantage of this global contactless phenomenon, using personal smartphones as the medium for digital gold payments. We can skip generations of dedicated development by some of the biggest companies in the world, and adapt that technology to the gold currency era within months, not decades. The company anticipates that in the near future, gold currency can be instantaneously transferred into any local fiat currency anywhere in the world. Cashless payments and contactless payment terminals will make this a reality.

About Puregold

Puregold.sg was established in 2010 as an e-commerce store selling value-added gold and silver coins and bars. It is one of Singapore’s premier private mints with its own in-house factory. It aspires to be the leading hub of creative quality premium gift coins and bars that are made in Singapore.

Apart from physical retail shops, it also runs and manages an online platform, www.bullioncurrencies.com, empowering merchants, and consumers to use gold as the base currency for all transactions. With its experience in the gold price market, Puregold.sg stepped into the global arena of gold trading and electronic gold exchanges and is proud to have won the Asia Pacific Top Excellence Brand 2012.

Bullion Currencies (Pte Ltd) is a subsidiary of Puregold.sg Pte Ltd. It provides an online platform where customers are able to buy and sell gold, and also use gold as a means of payment when purchasing goods and services. It firmly believes in the notion of “Gold is Money,” and has taken this literally into the e-commerce world. Working together, they provide customers an all-round service and pleasant experience when dealing with their gold transactions. Puregold.sg, which is headquartered in Singapore, has offices and retail outlets in Vietnam, Malaysia, and Indonesia. It has also launched a Gold Dispensing machine in Singapore.

For further information visit puregold.io.

Puregold will offer 2% of all the tokens released during the Initial Coin Offering (ICO) for the bounty campaigns. As a reward, the user who takes part will receive PGT.

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