Their website, https://www.Quintric.com is already up and taking investments under an early adopters rewards program.
The Quintric monetary system combines the best aspects of precious metals, cryptocurrencies, and legal tender into one revolutionary, patent-pending, medium of exchange. Harnessing the stability of gold and silver, the technological prowess of cryptocurrency, and the legal standing of the U.S dollar, Quintric addresses challenges ranging from inflation to deflation, from carrying costs to currency exchange rates, and from transparency to transaction times. The system's design and implementation represents the combined efforts of leading monetary reform experts determined to succeed in finally creating cryptos that can actually function as usable currency. Each of the five interoperable, yet independent, specie-based tokens constitutes a vital piece in completing that elusive crypto puzzle: Quint; QuintS; iQuint; iQuintS; and QuintX.
There are some really cool aspects of the program laid out on the platform such as:
- No vaulting fees
- Compliant with legal tender laws in the US
- 3s transaction times because its on the BTS platform
- Convertible into a wide assortment of Gold and Silver bullion products
- A real preservation of Purchasing Power!!!
U.S. Tokens
The Quint and the QuintS (“US tokens”) are specifically designed to allow U.S. citizens to reap the full benefits of their country’s legal tender laws, although others from around the world are welcome to make use of them as well. One thousand gold or twenty silver US tokens may be surrendered for either a one-ounce U.S. minted gold or silver legal tender coin, respectively, which are vaulted and insured at a 100% reserve ratio, payable to the token bearer on demand.
Each QuintS token certifies five U.S. silver cents held on deposit payable to the bearer on demand in one-ounce, U.S. American Eagle silver coinage, at 20 tokens per coin. This means that each QuintS token represents one twentieth of a silver dollar—the coin’s face value. Like Quint, the supply of this token is uncapped, subject only to the U.S. Treasury minting “sufficient to meet public demand”. The cost of conversion from paper dollars is calculated by dividing the retail proof coin price published by the U.S. government on usmint.gov by twenty. Each token is subject to a 100% reserve ratio that meets the highest standards of vaulting accountability.
Each Quint token certifies five U.S. gold cents held on deposit by The Quintric Corporation payable to the bearer on demand in one-ounce U.S. American Eagle or Buffalo gold coinage (at 1,000 tokens per coin). Because U.S. one-ounce gold coins are stamped with a fifty-dollar face value, each contains 5,000 gold cents or 1,000 Quint. Thus, each token represents one thousandth of a troy ounce of U.S. legal tender gold. No cap applies to this token. So, the only limitation on its issuance is the supply of U.S. gold coin, which by law the U.S. Treasury is to produce in quantities “sufficient to meet public demand”.28 The cost to convert U.S. paper dollars to Quint is determined by dividing the retail proof coin price published by the U.S government on usmint.gov by one thousand. Each token is subject to a 100% reserve ratio that meets the highest standards of vaulting accountability.
International Tokens
The International Silver Quint or iQuintS is an uncapped cryptocurrency backed by Briefne’s coin of the realm together with a basket of five other legal tender silver coins, consisting of the Chinese Panda, the British Britannia, the Austrian Philharmonic, the Canadian Maple, and the Australian Kangaroo. iQuintS may be redeemed by the token holder in any one of these forms by tendering twenty tokens per government-issued, one-ounce coin, or as little as one token for Breifne QuintCoin which will be available in one and five iQuintS denominations. Like QuintS itself, an iQuintS token represents one twentieth of an ounce of silver legal tender. The conversion rates are the same for both QuintS and iQuintS, so they are directly interchangeable through the Quintric escrow. The silver holdings vaulted as backing for iQuintS contain at least five percent of each sovereign coin offered as a redemption option, with the remainder in Breifne coin of the realm. The iQuintS is subject to the same meticulous vaulting and auditing procedures as the U.S. Silver QuintS.
The International Gold Quint or iQuint is an uncapped cryptocurrency backed by Briefne’s coin of the realm together with a basket of five other legal tender gold coins, consisting of the Canadian Maple Leaf, the Austrian Philharmonic, the Chinese Panda, the British Britannia, and the Australian Kangaroo. iQuint may be redeemed by the token holder in any one of these forms by tendering one thousand tokens per government-issued, one-ounce coin, or as little as one token for a Breifne QuintCard, which will be available in one, five and twenty-five iQuint denominations. Like Quint itself, an iQuint token represents one thousandth of an ounce of gold legal tender. The conversion rates are the same for both Quint and iQuint, so they are directly interchangeable through the Quintric escrow. The gold holdings vaulted as backing for iQuint will contain at least five percent of each sovereign coin offered as a redemption option, with the remainder in Breifne coin of the realm. The iQuint is subject to the same meticulous vaulting and auditing procedures as the U.S. Gold Quint.
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