|image souces by https://globcoin.io/|
GLOBCOIN Crypto Platform (GCP, or GC platform) provides the infrastructure to build baskets of currencies corresponding to specific communities/users' needs.
In a globalised world, your own national currency does not really measure your wealth, except in the sense that it is handy for accounting or payment purposes. Whereas, currency baskets can prove to be the appropriate solution for a variety of needs, this is probably the reason for the growing trend from Central Banks to build up currency baskets and/or to peg the national currency to a basket which is usually not disclosed the public (China and Singapore).
GCP founders have been at the forefront of innovation in currency management for decades, proposing to their large clients (Institutional and family offices) dedicated currency baskets tailored to their own specific needs.
The first basket that will be launched on GC platform will be our “flagship “ GLOBCOIN, a basket based on the 15 largest currencies of the world and 5 % weighted in Gold. This basket corresponds to the needs of many users. This basket is already traded for our large clients on a traditional foreign exchange forward market.
By construction, it will be 100% asset-backed and very stable. It will be an ideal complement for a cryptocurrencies holders wanting to stay in the crypto world but looking to secure part of their portfolio.
Other currency baskets have already been studied for specific clients in Asia, Africa and Western Europe and GC platform will be able to launch and manage such dedicated baskets according to client needs provided that the constituents of the basket are tradable. We will also add a basket to our current GLOBCOIN multi-currency prepaid card so that people (in addition to their needs in fiat currencies) can buy a basket in just one click.
As explained, the basket concept was previously reserved for large clients due to the structure of foreign exchange markets. Thanks to Blockchain Technology, it is now possible to offer the basket concept
to the public. The decentralisation enables us to provide solutions that were formerly reserved to a few privileged market participants.
Isn’t it a revolution that anyone, easily and at very reasonable costs, can behave like a central bank, managing currency risk.
The purpose of the Token sale (GCP) is to:
- provide additional funding to enhance the current platform, taking advantage of the best of blockchain,technology.
- make the platform available to the largest community of users
- disseminate the use of dedicated baskets in specific regions of the World, in accordance with the local regulations that may apply in such places.
The GCP token is expected to directly benefit from the growth of the use of the platform through reward programs.
Benefits of a currency basket platform using blockchain technology. For all those reasons, the most efficient way to trade currency baskets is through professional managers. The GLOBCOIN Crypto Platform appears as a game-changer in a very cost-effective way.
Tokenisation is the process of converting rights to an asset into a digital token on a blockchain.
The GLOBCOIN Crypto Platform will launch a series of rules-based baskets tokenised on the Ethereum blockchain. Each basket will have initial weights corresponding to a specific need of a community. It will track the performance of the underlying basket of currencies. Users of the basket can purchase them from the platform, our digital wallet, or from exchanges.
Why wasn’t it possible to offer such a product to individuals before?
The main reason is that foreign exchange markets are dealing with a minimum size of several thousand units per currency. Very few people would have access to the network necessary to construct such an offer themselves.
No retail bank or broker currently offers such a basket. Public institutions, such as Central Banks
or large organisations, manage this by themselves. the associated cost of doing this would be very
substantial for an individual. The revolution brought by Blockchain and particularly Ethereum now makes it now possible to build and distribute such a product, thanks to the use of smart contracts. While we still need an entity such as Bank(s)/Broker(s) to securely hold fiat currencies, distributed ledger technology (DLT) allows the ‘tokenisation’ of the basket and makes it tradable on a peer-to-peer basis. The tokens can then be exchanged on platforms, at a fraction of the cost, and the amounts can be as little as the equivalent of one US dollar.
The Globcoin GCP token creation process is organised around smart contracts running on Ethereum.
Participants willing to support the development of the Globcoin project can do so by sending Ether to the designated address. By doing so they create GCP at the rate of 100 GCP per 1 ETH. A participant must send Ether to the account after the start of the crowdfunding period (specified as the block number).
Crowdfunding ends when the end block is created, or when the amount of Ether sent to the account reaches the maximum.
|image sources by https://globcoin.io/|
Multi-currency Payment Card
Globcoin Multicurrency Saving Account and Multicurrency Prepaid MasterCard is a platform accessible online or via an App, offering the combination of multicurrency payments and savings. GLOBCOIN makes your life easier, cheaper and gives you full control when it comes to managing your foreign currency exposure. Globcoin is aiming to make the GLX available to every card holder by mid-2018.