E-commerce is playing a fast-growing role in the global economy.

One of the primary benefits the internet has provided is ease of communication. People have leveraged this to carry data conveyance across the world with an ease of accessibility that was not possible in the past. Data conveyance stretches beyond just text display as any form of trade, whether of products or services, involves a high degree of information transfer.

The internet has made it possible to convey the information to secure trade in any market at an incredible pace while providing an ease of accessibility. One major impact this has had is the development of e-commerce. While brick and mortar stores rely on providing information of their inventory or services primarily to the area that surrounds them, e-commerce enables businesses to reach the entire globe.

There is no doubt that the internet has eased trade but one key limitation it faces, in its present state, is that it can only facilitate data provision, and communication is only one part of trade. The other part of trade is the actual value transfer done through some form of value storage; the present standard is fiat currencies. The internet does not host an internal mechanism to transfer value and it is necessary for any e-commerce channel to rely on external value transfer networks via payment channels primarily owned by card networks, such as Visa or Mastercard.

There are key inefficiencies to reliance on external payments. Most payment networks charge a high network fee as they need to maintain their own payment provision, payments are largely delayed because processing requires many middlemen, and a few companies have a heavy dominance on the completion of transactions. Blockchain technology provides the opportunity to overgo these inefficiencies, and a new currency aims to facilitate e-commerce transactions across the world.

Blockchain-Based Financial Infrastructure

Blockchain technology provides the ability to act as a layer atop the present functionality of the internet. It enables the twining of information provision and value transfer and as a result of this, the primary problem of reliance on third party transaction fulfillment is waived.

Golden Currency is targeting the loop in e-commerce by providing an asset-backed currency on the blockchain. Global e-commerce participants will be able to utilize this currency to fulfill transactions with great pace and lowered transaction costs; as a result merchants will be able to access the capital for renewed inventory faster and consumers will have access to cheap products (as transaction fulfillment will be cheaper).

A blockchain based infrastructure for e-commerce provides additional benefits. This currency can facilitate global transactional fulfillment as it does not face problems stemming from political issues that can devalue fiat currencies. And unlike most cryptocurrencies, Golden Currency is backed by gold and sustains a stable value based off the asset. As a result, reliable pricing can be sustained because the floating value of Golden Currency will be stable.