Nacreous Coin

What is Nacreous Coin

WHAT IS THE NACREOUS COIN?

The Nacreous Coin is a blockchain-based cryptocurrency that is linked to physically deposited gold in the form of certificate of deposit called GOLD RESERVE SUKUK. A certain number of Nacreous Coins can be exchanged based on a specific formula defined in our offer for the appropriate certificate of deposit GOLD RESERVE SUKUK, whereas the certificate can be redeemed by Physical Gold at any time.

The Nacreous Coin is designed to be used as a generally accepted electronic payment means for all who consider gold as a traditional, true, secure and value-stable medium.

Globally, customers on the one side, and merchants and servicers on the other side, rely on the value of gold. In former times, gold was a direct payment means, particularly in the form of gold coins. However, Gold has continuously been replaced by bank notes, which nowadays are not, or only to a marginal percentage, backed by state-owned gold. Therefore, the value of the bank notes issued by the different countries rely on the trust that the respective country can pay its bills, only this is lesser than in former times. Especially in less developed countries, the trustworthiness of legal tender moves towards zero.

In this situation, the Nacreous Coin perfectly meets worldwide needs because it is a kind of “cryptonyzed” gold. Each coin represents an imaginary certain weight of gold whereby a certain quantity of Nacreous Coins can be exchanged for CERTIFICATE OF DEPOSIT GOLD RESERVE SUKUK. Furthermore, it will be made exchangeable for all fiat currencies and cryptocurrencies worldwide in the future.

The Nacreous Coin can be transferred borderless, cost-efficiently, securely and in real-time. Its value is predictable because the value of gold has a long tradition, and everybody has an idea about its stability. Therefore, the Nacreous Coin can become generally accepted worldwide.

The Nacreous Coin is based on the Ethereum blockchain protocol. Therefore, it is safe, cost-efficient and fast, and allows for the use of smart contracts.

PHYSICAL GOLD

Gold, in the form of gold coins and gold bullions, has served as international payment means as well as solid investment instrument for more than 4,000 years. Although legal currencies presently are not backed by gold, gold reserves still serve many central banks in the world as a currency reserve. Private and institutional investors invest in gold.

In times of economic crises, gold is deemed to be a stable investment with the potential to a value increase in comparison to other investments. The intrinsic value of gold is caused by its relative rarity as well as by the high costs of mining. This may also be the reason why investments in gold, unlike e.g. investments in interestbearing securities, do not have default risk.

However, gold coins are not used for payment anymore, and it is not feasible nor practical to hold and pay with gold in its traditional form. The new alternative is Physical Gold. It is reliable, globally available, secure, practical to use, and compatible with other payment means. The idea behind Physical Gold is to implement small gold bars on a specific paper which partially looks like a bank note. However, instead of mentioning a specific currency amount, the weight of the implemented gold bar is displayed.

In a process lasting just a couple of years, the design, the technology and the required machinery have been developed and successfully implemented, and the respective patent rights have been secured. The production of Physical Gold requires printing the small gold bars onto the specific notes using a specific laser technique. After this process, the gold bars will be welded with a certain transparent cover.

Currently, there are four different tamper-proof Physical Gold notes available, which carry between 1 and 6 small gold bars with a 0.1-gram weight each. The gold bars used for Physical Gold consist of 24 carat pure gold, which is 99.9% gold.

Physical Gold is designed like a bank note. Therefore, it can easily be used in day-to-day payment transactions and, furthermore, the acceptance of Physical Gold as a payment means is naturally increased.

In addition, each user of Physical Gold will have the possibility to gradually build up gold deposits through the purchase and collection of Physical Gold.