A new gold backed blockchain network opening the door to


    VILNIUS, Lithuania, May 07, 2021 (GLOBE NEWSWIRE) — The adoption of blockchain technology over the past decade has revolutionized many industry sectors. From securing data to supply chain management, blockchain application has revamped efficiency levels and allowed participating businesses to thrive and outperform competitors.

    Blockchain technology also allowed businesses to circumvent municipal laws in order to raise capital from retail investors whilst understating the risk levels associated with the investment in those companies and completely disassociating the consideration passed to the investor from the company’s equity.

    This was known as the utility token boom of 2017, where companies raised millions in ICOs, that had very little to no substantive business activity or generating cash flows. The benefit to them was that the utility tokens offered were more so regarded as products of the companies rather than securities, which meant that the cash flows generated were legally interpreted as revenues rather than capital. Why is this important, you ask? Well, it’s important because as an investor, you are afforded far less statutory protection as a consumer than as an investor.

    Since the boom and bust of the ICO era, a new type of tokenised offering emerged, the STO or Security Token Offering. Here companies and the respective intermediaries attempted to create a hybrid structure between a utility token and company equity, whereby the purchaser would be granted the same rights/protections under the law as a company shareholder, yet still enjoy the benefits of a tokenised ecosystem.

    The world was excited to greet this new STO, as capital raising companies scrambled to build out such digital equities. Alas, the market was too optimistic and counted on this ecosystem being completed in time for companies to execute their investors’ exit strategies. What was the problem, you ask? Well, that’s very simple. There was no marketplace for security tokens to be traded due to a lack of legal compliance. With no liquidity, there was no exit strategy for investors, and thus no capital gain incentives for them to invest in security tokens… and so the hype died and security tokens became a thing of the past, as other blockchain-oriented phenomena emerged (ie. the recent NFT boom).

    The reason behind the security token’s incompatibility with legal compliance was the inability for security tokens to act as equity, due to the various functional features that company shares possess, as well as the inherent interaction with a municipal regulator through the issuance/governance of such shares.

    Now for the first time, a new network is being designed and built by eMoney Bank in collaboration with the world-renowned CBDC developers Superhow from Lithuania. This new network, the GCR Network, is being built on central banking level protocols, by the aforementioned development team, in such a way so as to be able to interact with the technical systems of local regulators, whilst still maintaining all of the functionality of company shares. The goal here is to finally have a blockchain network that can sustain a regulatory-compliant ecosystem, which allows companies to build their security tokens and provides a portal through which these tokens can be traded on a secondary market.

    The GCR Network is built in such a way as to allow continuous growth of the network, with stable fees and network speeds (regardless of the network’s congestion levels). This is achieved by having a stable coin at the center of the network, which will not increase with network usage, like Ethereum and other such networks. It appears that eMoney Bank has partnered with an international telco in order to stabilize network speeds through the use of global telecommunication supernodes.

    The stable coin at the Centre of the system is known as Gold Coin Reserve (GCR), a multi-network digital asset, which has already received significant market popularity, already averaging an impressive $16,000,000 in daily transactions. The digital assets remain pegged to the spot gold price and is rumored to also be backed by gold reserves.

    Holders of GCR are also rewarded for holding their assets in term deposits through staking benefits, where they receive an ongoing growth on their holding at the company’s crypto-banking trading interface, the GCR Alliance platform – an offshoot from the company website (goldcoinreserve.io). The interface also allows users to stake USDT in term deposits as well as buy digital assets with Euros and exit back into bank accounts, where their digital assets are converted back into Euros.

    The company boasts about the new GCR Network’s resilience to external attacks and is rumored to soon be announcing a global hackathon event, encouraging hackers to hack its testnet network sometime this month, presumably in order to battle test it prior to launch next month.

    Media Contact –

    Company – Gold Coin Reserve
    Website- https://goldcoinreserve.io
    Web – https://trading.goldcoinreserve.io/en-us/#/convert 
    Twitter- https://twitter.com/goldcoinreserve 
    Telegram- https://t.me/goldcoinrsrv

    Name – Samiran Mondal
    Email- Newscoverage.agency@gmail.com
    Telegram- https://t.me/samiranmondal 
    Website- www.newscoverage.agency





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