GxCoin: Using Blockchain Technology to Build Real Economies and Connect Real Consumers
“Change doesn’t happen, it must be provoked” — GxC team
GxCoin is more than a digital VC fund and more than a digital currency. GxCoin is a revolutionary and usable medium of exchange that intends to finance a real economy, stabilize local small businesses and their communities, and it’s a smart way to store and grow value.
Our project, GxCoin, is all about diversification and offering a new kind of digital asset. It is a “stable coin” that serves as a healthy medium of exchange in everyday life and is as easy to convert into other cryptocurrencies as it is with Fiat — wherever you are.
It’s about empowering and backing small businesses — creating the first stable cryptocurrency that is backed by tangible, off-chain, premium stakes.
In addition to accepting investments in the form of GxCoin, these small businesses will also agree to accept GxCoin as a form of payment. Just like the option for “cash back” at a convenience store, they will offer a point of liquidity called “token back”.
This resolves the factor of liquidity and creates mainstream access to using GxCoin as a currency.
From the outset, we outlined our vision in a post on Cryptocoinsnews, iterating that currency (as a medium of exchange) is all about establishing trust and providing convenient methods for storing value and transacting safely and reliably. Backing our digital currency with a stake in small businesses encourages communities to actively participate in their economies and offer direct contributions.
This method of investment is also an effective way to protect against inflation and a good way to increase individual purchasing power. As participating small businesses grow and create dividends, investors are also able to see the value of their GxCoin investment grow.
A World Bank group study reports that the world economy counts more than 115 million small businesses and 365–445 million micro to medium-sized businesses in the emerging market. This number accounts for more than 60% of employment worldwide and 40% of global GDP.
We are not a team of dreamers living in some far-off Utopia. We are experienced entrepreneurs, developers and experimental finance professionals. Our plan applies a high level of financial education and advanced technology to address everyday problems. GxCoin’s plan is backed by the desire to remove economic boundaries and create a more fair, accessible economy to a broad user base.
Right now is an opportune time to bridge the gap between mainstream consumers and a decreasingly esoteric circle of digital currency users. GxCoin is driven by an interest in establishing a financial standard of exchange that is better understood by a global audience and more accessible to everyone in the economy.
We at Genevieve don’t believe in just one cryptocurrency. We believe in a need for thousands of currencies. Cryptocurrency is a formidable medium of exchange and it can be a powerful tool in any community; a tool that should be shaped by the needs and specifications of those individuals who use it.
Key determinants for more mainstream adoption of cryptocurrencies include a deep market, high volume of transactions and liquidity and instant conversion between community members. Blockchain technology is the new standard that makes this possible.
Sources
https://www.worldbank.org/en/topic/financialsector/brief/smes-finance
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