Few things have survived for as long as gold, and few likely will. Ever since the dawn of history, humans have been drawn to the precious metal to store value, transact, and even hold religious ceremonies in (alleged) communication with deities.
Evolving with the times
Technology takes things to unexpected places, and even something as perennial as gold hasn’t been immune to these changes. We do not transact with gold anymore, although we continue to recognize its value (and even, in some cases, start to suspect that we should go back to using it as currency). And, moving from gold to ones and zeros on a screen, we tried just about everything.
However, nothing seemed to be as good a fit for us as gold.
Gold has many unique characteristics, positive and negative, although the former outstand the latter. It’s divisible, durable, fungible, has proven itself through time, and can hardly (and not reliably) be faked. Fiat or even paper money cannot compete with this. Although gold is hard to transport, not completely liquid, and non-portable, it has continued to beat inflation simply because of its intrinsic value.
Then, crypto came along
Cryptocurrency’s greatest strength is that it can succeed, through programming, to replicate gold’s natural advantages. In the right settings and under the right conditions, we can even use it to represent physical gold ownership. And, by combining both types of super-assets, gold can become easy to transact with, store, and incredibly liquid.
V999, a cryptocurrency created by experts in precious metals, is a perfect example of this. Thanks to its founders’ expertise in international trade and blockchain technology, V999 is setting a new standard for what asset-backed tokens are supposed to be. Every V999 token is backed by 0.1 grams of gold at London’s fix price. It can also be divided up to 1/1000th of a token, creating a friendly system for even the smallest of users.
But, where’s the revolutionary part?
2020 saw crypto’s (well overdue) explosion of growth under the success of DeFi and apps like Uniswap. Suddenly, the ecosystem seemed to realize that programmable money also involved a myriad of different ways to program, automate, and grow its tremendous potential.
Thanks to this paradigm change, many, including V999, are making a change in the way we think of business models, seasoning them in the spirit of the crypto community’s values. V999 aims to create an ecosystem where retail investors and corporations, even governments, can benefit from each other’s transactions besides investing in valuable assets. Therefore, it introduces a profit-sharing system that rewards small users for using V999 to make transactions with gold while sharing similar benefits for its top players. V999 also aims to generate enterprise-level adoption with a dedicated team specialized in tailoring solutions to fit companies’ needs. The network uses the Stellar blockchain to guarantee the speed of transactions.
The times are changing.
It’s always refreshing to see technology bringing positive change along with it. With new tools come new solutions and unique philosophies, and V999 can undoubtedly be an example of how business models are reinventing themselves as we enter the Blockchain era. We sure hope we will continue to see reinventions of popular concepts come around, always with a twist that favors the retail investor!