HISTORY OF MONEY AND CURRENCY
No matter how far back you go in history, trading has always been a part and parcel of our lives. This trading meant some kind of exchange of goods or services was necessary. The first exchange of such nature known to man is the barter system. A barter system is where people used to exchange services for services, goods for services, or vice versa. This system was used for centuries, however with the increase in population, keeping track of the owed transactions became more difficult, giving birth to money, around 12,000 BC.
The concept was very simple in the beginning, however it became increasingly complex as time passed. Our ancestors used to exchange cowries, wampum and shells for buying goods and services, with various values assigned to the different kinds of currency. Similarly, they used animal hides and teeth as currency.
In Mayan culture, coffee beans and cotton cloths were used as currencies and in the African continent, bronze and copper bracelets for the same. Amusingly, salt was another commodity that was used as currency. In the middle ages, the roman soldiers’ salaries were paid in the form of salt. It’s hard for us to imagine a common household item like salt as currency, however this was the money of this era.
With the passage of time a more advanced currency system was needed, to make the exchange process simple. This led to innovation over time to develop round-shaped coins, which we still use in some shape or form. The first coin or currency was developed in 600BC in Lydia, now part of Turkey and since then currency has changed its shape and value many times. Some currencies gained high popularity, such as Florin, the gold coin, which played a major part in the promotion of international trade and commerce.
The arrival of Marco Polo in China in late 1200 led to the creation of the first-ever paper money that later traveled to Europe, eventually spreading to the whole world. Paper money evolved and flourished for another 8 centuries, however in the 20th Century there was another player getting ready to spread its wings and take-off. In 1946AD, the first credit card “Charge-It’, was invented by John Biggins, the same money model that you use currently, for online and in-store purchases alongside and in conjunction with fiat currencies.
ADVENT OF CRYPTOCURRENCY
Fiat currencies started off strong and simplified transactions, however with the passage of time, there were multiple afflictions associated with the use of fiat currencies.
First there was the issue of transporting large amounts of fiat currency around, causing security concerns. Then came the issue of fiat currency draining away from the legitimate enterprise into the black market. Fiat currency also promoted violent crime as it is an easy-to-use and fairly non-traceable means of payment. And finally, the issue of inflation which has its roots in the great depression, but formally began when the US government decided to print fiat currency notes without any or limited backing, with other countries following suit soon after.
In 2009, Satoshi Nakamoto, whom many suspect to be a made up character, in a scheme of anonymous entities, launched the first cryptocurrency called Bitcoin, designed to resolve the issues associated with fiat currency. Even though the idea of a blockchain-based currency, that can be used anywhere and had no dependencies on governments around the world, was very attractive; however its lack of usability and massive fluctuation gave birth to a new debacle.
BIRTH OF SGC
The blockchain and cryptocurrency domains have come a long way in the 10 years since its inception. In this time period, many cryptocurrencies were promoted, some more real than others, some coins and some tokens, but the common factor in all of them was that they lacked a clear vision and any concept of usability. This rapidly and wildly advancing technology and the flaws in cryptocurrencies motivated the creators of SGC to offer the crypto-users around the globe, with a sustainable solution to their financial needs.
We envisage a world with a healthy and fair financial system which is free from manipulation, based on advanced blockchain technology and using a highly stable cryptocurrency backed by a stable asset that significantly resolves the problem of volatility in the cryptocurrency domain.
Our mission revolves around empowering people with a proactive digital currency clean sweeping the litter of hundreds of cryptos that failed at providing decentralization, stability, security, transparency, and usability. Equality is one of the core values at SGC, making it equally beneficial for all; irrespective of their demographic characteristics or interest. From everyday users to corporate users to hedge fund users, and gold bullion lovers across the globe.
SGC is the whole package, secured with the insurance of actual physical gold bullion stored in one of the safest and most reliable locations and tied with SGC Pay Debit Card, our 60% gold-backed cryptocurrency offers ultimate stability, security and usability, making it the optimal cryptocurrency of the globe, operating on fair demand and supply principles, and advocating financial freedom for its millions of users.
The target market of our global currency.
Secured Gold Coin will appeal as a decentralized and borderless mode of transactions, while maintaining an investment portfolio that steadily increases in value due to gold-backing and strong demand.
Secured Gold Coin is an ideal option for gold acquisition on highly attractive terms, as well as providing the security of a Gold Standard Cryptocurrency.
Hedge Fund Users
Secured Gold Coin is an attractive option for those concerned with inflation, political instability, and economic uncertainty.