This article will present information regarding Gigzi, which is a platform to address the existing problems related to wider adoption of cryptocurrencies. This article will focus on the three powerful features of the platform. You would be able to find my overall evaluation related to its’ features at the end.
Introduction
Gigzi is a financial platform utilizes an innovative approach to blockchain based investment tools and cryptocurrencies to create a decentralized global currency which is regulated by Smart Contract. What makes Gigzi different from other ecosystems is in fact its’ strength that it aims to establish an ecosystem that users will be able to trade cryptocurrency with ability to protect their wealth in relative constancy of precious metals.
Features
There are three core powerful features of the platform which users will benefit namely, the Wallet, Exchange and Treasury.
Wallet
Gigzi Wallet is one of its’ kind in terms of the security level and user experience. Gigzi Wallet will be accessible by Gigzi Iris which is a state-of-the-art biometric device that will be manufactured by the worlds’ leading iris security technology provider IriTech. This innovative product will implement a higher level of security to the wallet which no wallet has at the moment. Main benefit of this technology will be to prevent loss of funds which would be caused by compromised private keys.
Treasury
Treasury is an application by which users will be able to trade and redeem Gigzi Metal. Users will be able to redeem the precious metal cast bar in return to the Gigzi Metal crypto-assets (GZP, GZG or GZS) they hold anytime by Treasury. Redeemed precious metal bar will be manufactured by the partners of Gigzi at the mint. For every piece of crypto-asset, one gram of precious metal will be redeemed. Whenever a precious metal is redeemed, corresponding crypto-asset is destroyed by Treasury which lowers the total supply of that crypto-asset. Instant exchange between Gigzi Black and Gigzi Metals will enable users to move their investments quickly into a more stable market.
Exchange
Gigzi Exchange will enable users to exchange cryptocurrency or fiat money to or from Gigzi crypto-assets within the Gigzi ecosystem. Exchange to or from other cryptocurrencies will be provided by integrating API’s of exchanges. Fiat money exchanges will be handled by local partners. These kind of exchange possibilities will provide platform users to access fiat money and other cryptocurrencies instantly.
Conclusion
Establishing an ecosystem where GZB acts as the local cryptocurrency and GZG, GZP and GZS as being the stable coins is like creating a micro version of cryptocurrency market. In fact, in this version of crypto market, stable coin is actually is stable backed by precious metals of which value increases in time opposite to fiat money. Considering the value of Gigzi Metal crypto-assets are correlated with their respective metals, exchanging to them would prevent the wealth of the user to decrease. In addition, it will provide a steady increase of the users’ wealth as the unit price of these metals increase in value in time.
Since security is the highest priority for cryptocurrency owners, any measure which improves security would provide important benefits to the users. Compromising of private keys is not rare and people lose a lot of funds because of this issue. Gigzi Iris is an innovative security feature which utilizes access to the wallet by identifying users’ irises and eliminates private key usage. There is no other security option exist in the market which would compete with Gigzi Iris. There is a grey point related to Gigzi Iris that it is not mentioned if there is a recovery option if it is broken or stolen. Since there is no personal data is stored on the device you would just simply buy a new one and access. It is easy as this.
Perth Mint is Australia's largest and most highly accredited precious metals enterprise. Users will be able to redeem their precious metal by using Treasury feature. Whenever a user wants to redeem his/her precious metal, Perth Mint will cast X gr. of the metal bar for X number of corresponding Gigzi Metal crypto-assets. The problem here is that since Pert Mint does not cast platinum bars, users will be provided with equivalent gold bars.
Important Links
Website: https://www.gigzi.com/
Whitepaper: https://www.gigzi.com/whitepaper
ANN: https://bitcointalk.org/index.php?topic=5047392.0
Bounty: https://bitcointalk.org/index.php?topic=5055492.0
Telgram: https://t.me/gigzicommunity
BTT 