CURRENSEE INITIAL GOLD BACKED COIN OFFERING

Transcription

1 WHITE PAPER CURRENSEE INITIAL GOLD BACKED COIN OFFERING

2 01 Currensee Initial Gold Backed Table Of Contents Introduction 02 Future of Cryptocurrencies 03 Gold on the Blockchain 04 Why CURRENSEE? 05 Applications of Currensee 06 Audit process of the Currensee 06 Insurance 07 Peer to Peer Gold lending platform 07 Currensee Denominated MasterCard 07 How Currensee will work 08 How the value of the coin will increase 09 Possible challenges of CURRENSEE 10 Buying the tokens 10 Roadmap 11 Why you should buy Currensee 12

3 Currensee Initial Gold Backed 02 Introduction The first Cryptocurrency to capture the imagination of the world was Bitcoin, launched in 2009 by an individual or a group under a pseudonym Satoshi Nakamoto. Cryptocurrencies are basically a digital media of exchange which use cryptography concept and shared transaction ledgers for creating a secure, anonymous, and traceable and a potentially stable monetary system. They take their name from their use of cryptography, which is a method of encrypting information, with the primary intention of sending messages securely and privately. Cryptocurrencies utilize most of the technologies and theories developed by cryptographers in the creation of a money exchange system that is decentralized. Even though Bitcoin remains the most popular Cryptocurrency, thousands of cryptocurrencies with varied levels of value, originality and popularity.

4 03 Currensee Initial Gold Backed Future of Cryptocurrencies Digital currencies have notoriously become unstable and volatile because of the fact that despite their popularity their market size is relatively small. With growth in their market capitalization, they will continue to gain some level of stability. The future of most of the cryptocurrencies remains the challenge of hyper volatility. This is largely because of the conditions of limited supply. The value of most of these cryptocurrencies is directly related by the subjective altitude of their users which can change with changing human needs and preferences. As in the case of fiat currencies, controlling volatility is a challenge since most of the coins are created as fast as processing networks can solve these blocks. Another issue that is challenging to the future of cryptocurrencies is the problem of adoption to the mainstream economy. Even though major strides have been made in adopting cryptocurrencies in the mainstream economic ecosystems, more needs to be done. Lack of trust, and understanding by the public due to arguments that it is a trustless system. Many argue that putting trust into a system that has no name or face hinder the acceptance of cryptocurrencies. The major and primary challenge to the adoption of Blockchain technology is issues to do with regulation. This has hindered the widespread use of Bitcoin globally where the technology has largely been mostly used in highly developed countries. Also, the increasing fees of cryptocurrencies such as Bitcoin have hindered its adoption in some sectors because of unstability in price and high transaction fees. CURRENSEE goal is to solve this issue by utilizing the blockchains technologies to create a completely new type of Cryptocurrency backed by Gold. The aim of this currency will be the fact that each coin is backed by one gram of gold at the initial launch. This Cryptocurrency will solve problems of volatility that have been facing other cryptocurrencies and regulations that have been a major stumbling block for the adoption of other cryptocurrencies. This is because of the unique spot of Gold in our society where it is widely accepted as a store of value.

5 Currensee Initial Gold Backed 04 Gold on the Blockchain The intention of this coin is that it will bring the unique characteristics of Gold into the Blockchain space. This will bring Gold, with its long established role as a store of value with cryptcurrency s global payments network technology. This will ensure convenience, ease of use as a native digital currency pegged to Gold while at the same time solving challenges facing Cryptocurrencies such as price volatility by pegging it to the value of Gold, which is the oldest and most stable form of money in the world. Also the attractiveness of Gold as a store of value will increase the acceptability of CURRENSEE. Based on the unique characteristics of cryptocurrencies where the main innovation of the cryptocurrencies is that transactions are conducted based on the Blockchain technology as a distributed ledger. This ensures that transactions permission less, private and also censorship resistant, peer to peer. This implies that once a transaction is recorded in the Blockchain network, it cannot be reversed. Therefore, cryptocurrencies have allowed for varied benefits within the financial network. The basic principle is very simple. The issued coin will represent one gram of gold which in itself will be held in a secure, insured and audited vault. In addition, every single CURRENSEE transaction will generate a small transaction fee which will then be reinvested into more gold. The administration costs will be deducted. This will cumulatively increase the amount in Gold that will back each of the coins. In essence, the real value of each CURRENSEE coin will increase over time because of the Gold being reinvested from the transaction fees. This will ultimately make CURRENSEE very unique when compared to the characteristics of other cryptocurrencies.

6 05 Currensee Initial Gold Backed Why CURRENSEE? The amount of CURRENSEE coins that will be issued at the Initial Coin Offering (ICO) will be 15,000,000 tokens. All these will be available for purchase through the official website of CURRENSEE. After the ICO ends, prospective holders of the coin will be able to buy and sell CURRENSEE freely through all the international channels that will have listed the Token. The ecosystem that will be created by the issue of the CURRENSEE will also offer platforms such a mobile apps and payment processing which will ultimately work as an excellent medium of exchange all around the world. Major advantage of the CURRENSEE is that it will have an intrinsic value just as Gold. This is unlike other existing cryptocurrencies that have no intrinsic value, because their value is based on demand and supply and the altitude of users on the specific Cryptocurrency. Also, the CURRENSEE will be kept safely in our highly secure crypto wallet.

7 Currensee Initial Gold Backed 06 Applications of Currensee Currensee will come with many other advantages. For use in the day to day lives of users across the world. Currensee offers complete privacy. This implies that coin distribution and transactions on our blockchain are completely anonymous due to the decentralization and being out of government control. Also, unlike in conventional banking systems, these accounts can never be frozen and third parties such as banks and government entities that can attempt to exact financial retribution. Most importantly, Currensee will cut transaction costs and fees of the conventional payments methods including banks, currency conversion fees and international transaction fees will be eliminated by the use of Currensee platform. Another major use is that the coin will be easily convertible into fiat money in all major exchanges around the world. This will make it more liquid and have more volumes. Audit process of the Currensee Auditing of the initial coin offering will be conducted by a Global Leading Auditing Firm. The company which offers high class services and capabilities where they deliver insights to their customers so that they can address complex business challenges. Our Currensee offering will involve the services of companies like Deloitte LLP, PWC or any other similar standard auditing firm who will ensure that process is transparent. The audit systems will be independently run by the auditing firms who will ensure that our blockchain and transaction systems are completely secure and trustworthy. With their vast experience in handling many other blockchain projects, IPOs and ICOs, they will be instrumental ensuring that our systems are credible and trustworthy.

8 07 Currensee Initial Gold Backed Insurance Another key feature of our Currensee coin is that we will involve the best insurance group in the world. Lloyds Group is a leading financial services group that provides banking and financial services mostly in the UK to personal and corporate customers. General insurance is one of their major services. The Lloyds Group is quoted in the London Stock Exchange and has a market capitalization of 26.7 billion. The gold that will back Currensee will be insured by Lloyds Group which will ensure that all the funds and gold that involves the Coin offering will be safe. Peer to Peer Gold lending platform One of the unique features of our coin will be the Peer to peer Gold lending platform that we will come up with. The peer to peer Gold lending platform will work as a collateral system where customers of Currensee can lend to each other on the blockchain as a peer to peer type of system. The peer to peer gold lending platform will be interest free, the first of its kind in world to hold gold loans with no interest. Currensee Denominated Debit Card So as to simplify payments in fiat currencies, the end users of Currensee will have the opportunity to ask for a Currensee Debit Card. Through the Debit Card users of Currensee will be able to load and converts their coins into fiat money instantly in real time. The Card will be limited only on the balance of the Currensee coins on the members account. This Debit Card will allow for users to make payments in any card payment points worldwide as well as ATM s. The Currensee will convert at a spot rate upon payment into fiat. Also, portability/divisibility users can exchange the amount they need to pay. This will ensure that there is no need to sell large metal sizes for smaller payments.

9 Currensee Initial Gold Backed 08 How the Currensee will work CURRENSEE will use the proof of stake Blockchain that has specially been designed by our engineers. The Blockchain has been developed from scratch, but with some aspects borrowed from the leading cryptocurrencies of Bitcoin, Dash and Litecoin. Proof of stake in blockchain is a different method of validating transactions in achieving of a distributed consensus within a Blockchain network. In the proof of stake system a new coin is distributed in a more deterministic way depending on its wealth also called a stake. In the CURRENSEE Blockchain, the proof stake will work since a stake will depend on how many coins will possess. New coins will not be added as when new Gold is purchased into the system increasing the current coin value since each of the coins must be backed by physical gold.

10 09 Currensee Initial Gold Backed How the value of the coin will increase Since the coin will be based on the spot value of Gold, the value of the currency will be less exposed to downside risks such as inflation which is the case in other fiat currencies. This implies that the CURRENSEE will have a floor price. Additionally, the increased usage and market demand of the coin will add some premium to the value of CURRENSEE. Increase in transactions will ensure that more gold reserves are purchased. The target will be to pack Gold $1000 in 5 years. Importantly, the price of the coin will increase by up to % over a period of 5 years. This will ensure that as the value of Gold increases, the value of each coin will also increase depending with increase in the number of transactions. The basic idea behind this coin is that its value will grow with every transaction that will happen within the CURRENSEE ecosystem. Each of the coin transaction will be able to generate a 1% transaction fee up to a maximum of 10 USD. This is different from other cryptocurrencies where 80% of the fee will be used to purchase more gold which will ensure that more gold is used to back each of the tokens. The system will ensure that as the volume of the transactions increases more gold gets added to the vault and all CURRENSEE owners share the profits by default since the value of the coin automatically increases. 80% will purchase more Gold 20% of the transaction fees will be utilized for development and day to day operations

11 Currensee Initial Gold Backed 10 Possible challenges of CURRENSEE One of the major challenge that we may likely face after the initial coin offering is that the transaction volumes of new cryptocurrencies is usually very low. To solve this issue we will introduce many applications, payments systems, and ensure more and more partnerships with many exchanges all over the world to ensure that the new coin will get rapid adoption as a usage currency. This will ensure that CURRENSEE can be widely used and traded which will also increase the value of the coin over time. After the end of the ICO the Coins can be bought, sold and traded at any major Cryptocurrency exchange and trading platform available or those ones that will accept to list the coin on their exchanges. The expected volume of the Tokens will be at least $200M in the first quarter. The listing on major exchanges and availability will increase the liquidity of the coin which will ultimately increase the value of the coin To ensure the security of the Gold, we will seek the services of Brinks HK which is the most secure gold vault in the world. And to ensure that we diversify the risk regarding the Gold, we will work with vaults in Dubai, Singapore, turkey and Hong Kong, which are some of the major financial hubs in the Asia and Middle East. Buying the Tokens The CURRENSEE ICO will be carried out in over 100 countries. This will ensure that the coin will have more liquidity. These tokens will be listed on all major exchanges such as Kraken, Bitfnex, Poloneix, and Bitrex among others.

12 11 Currensee Initial Gold Backed PRE LAUNCH Until June 2017: CONCEPT DEVELOPMENT Getting Team Ready Conceptualization August 2017: March 2017: GETTING ON TOE 1. IDEA Generation 2. Finding the like-minded September 2017: GOING PUBLIC 1. Website Launch ICO announcement 2. Online Announcements and PR 3. Bonus and Bounty Programs DURING LAUNCH MAKING THE RIGHT MOVE 1. Whitepaper 3. Strategic Investors 2. Key Tie-ups 4. Blockchain Assets November 2017: SHOWTIME 1. CURRENSEE ICO LAUNCH 2. GLOBAL Media and Trade announcements in 200+ countries 3. Trending for 6 months POST LAUNCH April 2018: ICO CONCLUDES 1. Token allotment and distribution 2. Exchange Listing Process begins MAY 2018: DEBIT CARD 1. CURRENSEE Debit card is introduced MAY 2018: DERIVATIES PLATFORM AUGUST 2018: GOLD ATM'S May 2018: EXCHANGE LISTING 1. CURRENSEE listing in the major exchanges like Kraken, Bitfnex, Poloneix, and Bitrex among others MAY 2018: REMITTANCE PLATFORM 1. Wallet and Gateway introduced

13 Currensee Initial Gold Backed 12 Why you should buy Currensee Currensee will be the most unique among the thousands of coins that have been released in the last three years. Firstly, the coin will be backed by Gold bullion that will ensure that the coin is stable unlike other currencies whose real value depends on the demand by people. Most crucially, the coin will be easily convertible into multiple currencies which will make it adoptability easier. The payment system that will be developed as part of the Currensee coin will have gateways that can be integrated with other exchanges and businesses that will be able to use Currensee as a method of payment. Don t be left out on the future of money backed by real assets with real intrinsic value. Choice is Yours. CURRENSEE is Yours.

14