What Do We Know About G-coin Ahead Of Its Launch

Despite being in its infancy, G-coin has already illustrated its ability to fundamentally disrupt the global financial system. It is well positioned to create a paradigm shift in the way we create wealth and look at money.

Author:Banshan 搬山

Editor: XO酱

Image Credit: pymnts.com

With Bitcoin surpassing $50,000, Cryptocurrency is institutionalizing at a rapid pace. To ride this wave and prepare for the foreseeable collapse of the Chinese Communist Party, G-coin is about to have its Initial Coin Offering (ICO) and launch its trading operation soon. This much-awaited G financial system is featured with innovative digital twin of G-coin and G-dollar. The G-coin is the blockchain powered cryptocurrency (the exact name is still to be confirmed) complemented by G-dollar which is a digital currency anchored with US dollars on 1:1 basis.

Without diving into the details of its architectures and technological stacks, which will be officially documented in its white paper, for the purposes of this piece, the author has speculated the prospectus of G-coin based on Miles Guo’s broadcast. The views are those of the authors and do not represent the issuer in any way.

  1. Founding on the principle of cooperating with governments, rather than circumventing the regulation

G-dollar and G-coin are powered by blockchain with stringent Know Your Customer (KYC) procedures so their transactions are fast, digital, secure and worldwide with minimal transactions cost. Instead of being maintained by a peer-to-peer community computer network like Bitcoin, the G-coin is hosted on a relatively centralised ledger system that are distributed across the globe and G-coin’s issuer is accountable for complying with local legislation framework, financial regulation, monetary policies within its global application. This assures its transparency i.e. that neither money laundering nor tax evasion can be allowed across its operation. This will enable G-coin to grow really wide and far to progress towards its 100-year vision.

  • One billion coins a year to be issued for 100 years

If you look at the G-coin with an institutional perspective, it is essentially a central bank that maintain its balance sheet with assets and liabilities. The quantum is topped at one billion coins a year, which means that it cannot print money like other central banks do. Ideally the annual increase in the global GDP could be contained within the one billion G-coins to reflect the true wealth, not wealth built upon debts, so that the goods and services priced with G-coin are not inflated by an over-supply of money. This is of particular importance when the pandemic has seen a huge rise in currency printing by the world’s largest central banks.

On the other hand, this also means that people can use G-coin as a storage of value benchmarking with the real value of other currencies in order to preserve their wealth. As much as you may think your local currency is an ‘asset’, in reality, it is a liability of your central bank. Notwithstanding 67% of the world’s currency reserves is in US dollars, G-coin may become a concentrated form of your US dollar assets to protect the true value of your wealth and at the same time gives you high liquidity and security against the US Reserve Bank’s monetary policies. G-coin will be well positioned to become the reserve bank of the New Federal State of China.

  • G-coin can only be purchased with G-dollar

The requirement of conversion from US dollars into G-dollar and then into G-coin means the G-Coin is not undermining the US dollar as the world’s reserve currency.  The balance sheet of G-coin will have both US dollars and gold as its backing assets, which is a major advantage compared with other cryptocurrencies on the market. The unique coupling system with stable digital currency G-dollar anchored to USD makes G-coin a great form of payment, avoiding the volatility on trading platforms. The G-dollar, recently been granted license to operate as a payment method in the US, has unlimited potential to take over Alipay and WeChat Pay. This make G-coin almost a personal bank that have all the functionalities you need for your wealth management. G-coin’s masterminded vision and well thought out structure enables its readiness to be plugged into the existing global financial settings.

Despite being in its infancy, G-coin has already illustrated its ability to fundamentally disrupt the global financial system. It is well positioned to create a paradigm shift in the way we create wealth and look at money. 

Disclaimer: The views expressed here are those of the authors and do not necessarily reflect the views of GNEWS.org.

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18 days ago

Great Article, already share in few Cryptocurrency twitter