Built using a proprietary blockchain technology on a combination of cross-chain Ethereum and Hyperledger: Hyperledger allows us to store vast amounts of information pertaining to GoldGramCoin® while Ethereum is used to create a Smart contract that has automated ‘live’ feed prices of Gold, FX rates and the five major digital token prices.
Our system is capable of processing several thousand transactions per second, permitting GGC to be purchased 24/7 via a secure automated smart contract with a live-feed gold price and FX rate, in case of buying in a non-USD currency, at time of buying.
GGC are simultaneously issued and paid for in fiat currency, at the live price of gold at the time of purchase, ensuring transparent, real-time and competitive pricing. Each GGC is embedded with a unique serial number or ID that identifies the exact location of the gold backing it held in secure storage at a Sovereign Mint. So each GGC is inextricably linked 1:1 to physical, redeemable, allocated 99.99 % Fine Gold.
GGC enable holders to own and redeem physical Gold affordably and efficiently, benefiting from the underlying intrinsic value of Gold, and to spend GGC in small amounts, in fractions of up to 4 decimals places, or less than US$0.01. Title to the underlying Gold is held by the holder of the GGC benefitting from a highly liquid – highly scalable – transparent and ‘live’ real-time pricing.