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 However, Gold has continuously been replaced by bank notes, which nowadays are not, or only to a marginal percentage, backed by state-owned gold.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.