When money is spoken of as being as old as human civilisation, we’re really talking about gold. Ever since man discovered gold, it has been used as money in one form or another. From ancient Egyptians, the Romans and the Aztecs, to the present day, the fact that gold has intrinsic value was never up for debate.
Centuries down the line, there have been plenty of changes in the monetary system — but the last few years have seen an uptick in the demand for gold. This development, along with the recent popularity of blockchain technology, have paved the way for the invention of a sustainable monetary system — an exciting system with direct immediate benefits to all of its users.
We have the perfect opportunity to merge the past with the present, laying the groundwork for the next generation of money. An asset fusion such as that of gold and blockchain technology is revolutionary, and Aurus is at the forefront of this innovation. Providing a streamlined infrastructure for a cheap, fast, stable and globally viable currency, Aurus’s unique approach to merging traditional gold markets with the digital currency world while excluding the problems of both is a landmark achievement.
The downfall of unsustainable money
The rampant flaws of fiat currency have long been established: it is government-controlled money prone to manipulation, an imposed system that cannot withstand economic uncertainties and penalises savers as users continue to experience a decrease in their purchasing power.
Blockchain-powered digital currencies, with their attendant benefits of scalability, transparency and efficiency, were quickly heralded as a logical replacement — but chinks in cryptocurrencies’ armour have since been exposed. Chief among these weaknesses is a low trust rate and consumer confidence — a direct result of their volatility and lack of inherent value. As a case in point, cryptocurrencies remain notorious as a speculative asset, rather than being used as a viable means of payment.
Stablecoins — a form of currency designed to be immune to price instability by being pegged to tangible and intangible assets — have been touted as the long-awaited panacea. Unfortunately, most stablecoins carry flaws similar to the current fiat system — monopolised structures and opaque administration. Even gold-backed currencies have been plagued with such issues as these solutions require users to trust a single centralised entity — often resulting in unpegged tokens that do not fully represent gold ownership. Economic uncertainty grows, with a solution yet to have developed.
Aurus has been watching and learning, and has now taken up the challenge of creating a globally viable alternative to failing monetary systems. AurusGOLD (AWG) was created with sustainability in mind, in the decentralised spirit of blockchain technology, with no single point of failure. What makes Aurus’s system unique is the fact that AWG tokens are independently produced and distributed by a network of reputable providers and traders from the gold market.
Here’s how it works. Aurus backs all its AWG tokens with actual audited, vaulted gold. This means each AWG token is a digital representation of one gram of LBMA-standard gold, held securely in Aurus-partnered vaults around the world, and which can be redeemed at any time. Tokens represent full ownership, and do not rely on Aurus’s survival as a company. The gold-backed token will still exist as an asset, just as a gold bar would — a major advantage of Aurus’s decentralised business model.
To further drive the adoption and usage of AWG, Aurus has introduced its own blockchain-based debit card and POS devices, making gold a truly viable currency for everyday payments. For the first time ever, it makes sense to buy a coffee with gold.
Aurus’s mission goes beyond the realm of other currencies. At its heart is the opportunity to empower people with a currency whose purchasing power is perpetually on the rise, and that can extend into future generations. Aurus is positioning itself to become the cheapest, fastest, and most stable globally viable currency. Aurus’s technology and its network of reputable brokers and exchanges have made this a reality. Now anyone with access to a smartphone can seamlessly acquire and transfer gold to the value of pennies, with the convenience of blockchain.
A new viable alternative
So should we adopt AWG as a new currency? That’s for you to decide. Aurus is providing a legitimate alternative, granting the freedom to choose and use a currency that carries the characteristics of sound money. If gold’s intrinsic value and stability appeals to you for wealth creation and growth, if you find blockchain’s transparency and immunity from government manipulation attractive, and if a truly cashless society with all of its convenience, efficiency, speed and security is what you desire, choose AWG today.