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In their own words
“e-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage. Other e-metals are also issued: e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium. However, the most popular e-metal (by an overwhelming margin) is e-gold. e-gold is integrated into an account based payment system that empowers people to use gold as money. Specifically, the e-gold payment system enables people to Spend specified weights of gold to other e-gold accounts. Only the ownership changes - the gold in the treasury grade vault stays put.”
Why it might be a killer
The service offered has a huge potential audience as almost any business or individual who wants to make or receive convenient, secure, cost effective, and final payments across the internet, can find e-gold useful.
Some questions
How safe is it? Nowadays hackers are very common, what if I get hold of my passwords? How can I make bi-directional transactions if I only use e-gold?
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e-gold.com comments