Home / Cryptocurrency / Tiberio Coin – a new token supported by seven metals

Tiberio Coin – a new token supported by seven metals

The Swiss asset manager and commodity trader Tiberius Group AG is entering the $ 215 billion digital coin market by offering a new seven-metal token in a sale scheduled for October 1st.

Aiming to distinguish its Tiberian currency from the thousands that have no reference value, the company plans to build a market in the good so that its value is close to that of the price of a basket of copper, aluminum, nickel, cobalt, tin , gold and platinum.

Christoph Eibl's 13-year-old investment company will enter a crypto-currencies landscape of failed projects that assure buyers that the value of their coins comes from something more than just anonymity, a single reference asset such as gold or a promise not to let the issue run.

The effort is driven by the arm of the Tiberius Technology Ventures AG company in Baar, Switzerland, a nation that is cutting one of the most liberal profiles in the world to embrace privately issued money.

"Instead of undergoing the digital currency with just one commodity, we chose a mix of technological metals, stability metals and metals for electric vehicles", declared the division's CEO, Giuseppe Rapallo, in an interview. "This will allow the diversification of currencies, making it more stable and attractive for investors".

The new currency will be offered at around $ 0.70 and will be sold under Swiss law, rather than as an unregulated initial currency, or ICO. The offer will be based solely on demand and will be limited only by the availability of the underlying metals, said Rapallo.

Estonian exchange

The company will list the currency on the LATOKEN exchange based in Estonia, chosen because it meets the necessary regulatory standards, said Rapallo.

The Tiberius Group, founded in 2005 by Eibl, trades physical assets and manages approximately $ 350 million for customers. Philip Zimmermann, Chief Scientist and Security Officer at Tiberius Technology Ventures, is known as the creator of Pretty Good Privacy or PGP, a widely used e-mail encryption software.

Tiberius Coin will use blockchain technology to account for trades and aims to offer investors the opportunity to use it as a digital currency, paying for a coffee or a pair of trousers, for example, with a few grams of metal, simulating a traditional barter.

Gold was used to support certificates, tokens and other supports with varying degrees of success. In the early days of the Internet, E-Gold, founded in 1995, was used by millions until its closure. With Bitcoin as a precursor of digital currencies and blockchain technology that offers a decentralized accounting method, new currencies backed by commodities such as Golden Currency and GoldFinX have seen the light of day, with mixed results.

"There are dozens of companies that have launched metal-related stablecoin, and so far none of them have gained any traction," said Adrian Ash, research director at BullionVault Ltd based in London, which since 2005 offers the metal trade in turn, to 70,000 customers worldwide who carry out peer-to-peer transactions on an online platform without the use of a blockchain – the company stores $ 1.5 billion of gold.

"They are trying to solve a problem that does not exist – all this can be achieved without the added cost of a distributed ledger," Ash said.

At a relatively rigid price, holders can exchange cryptocurrency with physical raw materials. If successful, it could provide traders or purchasing departments of industrial companies with a new way to buy and sell long-term physical metals.

Given that most commodities trade in tonnes rather than grams, Tiberius requires a minimum commission of $ 10,000 to exchange currency with physical commodities.

Tiberius

Now read: SwiftKey for Android now has the translation of messages in real time

Source link