Creating a cryptocurrency more stable than fiat
As cryptocurrencies have proven themselves far superior in regards to technology, cryptocurrencies that act like fiat currency have been created. Many traders switch between cryptocurrency and fiat several times a day in order to make profitable trades. But because cryptocurrencies are more convenient to use, many exchange pair against the cryptocurrency Tether instead of USD. Tether is backed 1-1 by the USD which eliminates the volatility in the crypto market when switching back and forth. However, what some might not realize, is that the USD itself is quite volatile itself. In 2017 alone, the value of the US dollar fell ~14% against the Euro. This is where Globcoin comes in, they are creating a more stable currency that has all the conveniences of a cryptocurrency. The Globcoin (GLX) is backed by a “basket” of fiat currencies and gold. A total of 15 fiat currencies from around is chosen, these include already established major currencies and some from promising developing countries. The volatility of this basket has only been around 4% in the last 15 years, which is extremely stable, especially when considering a currency like the USD vs EUR fell ~14% in 2017. Which specific currencies the basket consists of and the exact percentages of these and the gold are displayed below.
Tokens and utility
Cryptocurrencies are often criticized for not being an easy way to pay in real life, but with a card like the Globcoin Card, paying for in real life stores is just as easy as using your current card. The Globcoin prepaid card is powered by the Globcoin multicurrency savings app. When the GLX token is implemented into the app, users will be able to spend their GLX tokens in real life stores through the card. Globcoin is also issuing another token, the GCP token. This ERC20 token is going to provide utility when issuing or exchanging GLX on their app. The GCP is the one Globcoin is selling in their ICO.
To fund their project, Globcoin is raising funds through an initial coin offering (ICO), selling their ERC20 token GCP. GCP is a utility token issued on the Ethereum blockchain that will be used when issuing or exchanging GLX tokens on the Globcoin app.
The token sale started 4th of March
The token sale ends 27th of March
10000 GCP = 1 ETH
- Total amount of tokens issued is 510.000.000 GCP
- A maximum 204.000.000 GCP will be available for purchase during the token sale
- Hard cap is 12.000 ETH
- There is no soft cap, the project will proceed no matter what
The team behind Globcoin has a bunch of experience in currency management, finance, banking, blockchain, software development and much more. These are just some of the members of the project.
If you wish to view the entire team, their advisors and learn more about them, then you can visit their website: https://globcoin.io or read their whitepaper here: https://globcoin.io/assets/whitepaper-GCP-v2.0.pdf
The app and prepaid card on which the GLX and GCP tokens will be used were created years ago. This means that their product already has proven itself and that this is an upgrade to further their vision.
The Globcoin project frequently updates their community through videos on their YouTube channel.
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
My bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1855321;sa=summary
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