Australia-based firm Secure Gold Coin Pty Limited has unveiled its revolutionary project named Secured Gold Coin (SGC Coin) that utilizes the mechanism of blockchain technology to allow the users to purchase real gold through the ownership of the SGC coin. The SGC coin is the native virtual currency of the firm, which is pegged by 60% real gold. This lucrative feature of the digital coin restrains the users from being inflicted by volatility, which brings about a change in the value of the SGC coin.
Cryptocurrencies have been the hot-shot topic for the financial world since the time Bitcoin was introduced to the people for the very first time. As these virtual monies come studded with an array of attributes, they have undoubtedly evolved as a strong medium of payment for enterprises and industries globally. Just like any other domain, cryptocurrencies to are not free from limitations. They bear their own set of issues which experts from around the world are trying to find a solution for. This quest for solution led to the evolvement of utility coin, security coin, asset pegged coins and hybrid coins.
A hybrid coin is comparatively new to the crypto domain but has exciting qualities and features for the users. One can avail these hybrid coins via Secured Gold Coin project. The three primary motives which triggered the development of SGC included:
- Launch of global hybrid currencies supported by stable, accessible, reliable, and safe assets or commodities
- To ensure sufficient supply of digital currencies for the fulfillment of operations
- Integration of principles of security, stability, and usability with the SGC ecosystem
With the use of blockchain technology, the SGC platform fosters a public decentralized, unchangeable, and shared solution which allows several operators to work upon it and initiate authentic trading activities, efficient storage of data, and elimination of illicit activities on the network.
Interestingly, the SGC Coin not only works as an asset-pegged digital currency but also acts as a hybrid coin. This allows the owners to employ the coin as a tradeable asset on listed crypto exchanges and also allowing them to use the SGC E-commerce platform, which renders them to enjoy reliable transactions and payments. The SGC coin currently works in integration with SGC PAY Debit Card which allows the users to involve in purchase of goods and services in any corner of the world via the SGC coins.
The company has also launched its native wallet which will promote scrutiny and management of transactions including funds. The wallet will be operable on varied platforms like SGC web wallet, SGC phone wallet (Android and iPhone), and SGC Desktop wallet (windows, Linux and MAC). The SGC wallet is studded with an array of innovative features including:
- Latest security mechanics
- Creation of new wallets
- Transfer of the existing accounts through Private Key or Keystore File
- Send SGC coins
- Keep a check on the available account balance