One of the main complaints leveled against cryptocurrency by its skeptics is that it is not backed by any sort of store of value. (Usually these same individuals forget that most fiats are no longer backed by anything like gold, silver, or some other precious metal.) One project, Xaurum, is looking to change this with its “golden blockchain.”
WHAT IS XAURUM?
Xaurum is a representative unit of value on the “golden blockchain.” That blockchain is a transparent, public ledger that maintains the distribution of actual gold held by the Xaurum Commonwealth. This token was originally part of Blackcoin’s PoS blockchain, but now lives in the Ethereum ecosystem.
This coin can be mined in pools or alone, and is directly exchangeable for the gold value stored in Xaurum’s gold reserves. This gold may be delivered globally as well. The project itself is represented by a non-profit organization, the Auresco Institute.
XAURUM GAMMA
Backing cryptocurrency with gold is an interesting idea in and of itself, but Xaurum takes innovation within the cryptocurrency sphere to the next level. The company is working on a cryptocurrency smart-street. The goal here is to provide the Xaurum CommonWealth with the opportunity to expand its backed cryptocurrency investments into real estate in addition to the gold it already holds. Small-time investors would not otherwise have the option to explore real estate as an investment, yet the Xaurum CommonWealth can now provide that opportunity via its new token, Xaurum Gamma (XGM). This cryptocurrency asset connects the crypto world to the real estate world. All activity will be transparent on the blockchain, so all members of the CommonWealth will be well aware how their investments are performing.
The smart street itself is comprised of six luxury villas on the Croatian Island Krk. Villas at this tourist spot can be rented out for XGM by the CommonWealth. In fact, all services available for purchase on the smart street require payment in Gamma tokens. Half of the profits from property rental is reinvested in Gamma and Xaurum to increase the value of the entire ecosystem. Some of those profits are also reinvested in new real estate to grow the CommonWealth’s asset pool. The more real estate it has to rent out, the more likely it is that it and its members will profit.
Having an entire cryptocurrency community have a physical location is an incredibly unique idea. It will be interesting to see how it develops as time goes on.
BRINGING PHYSICAL WORTH OF DIGITAL ASSETS
Xaurum is trying to bridge the divide between cryptocurrencies and more traditional investments. This is a currently untapped market that — if entered correctly — could be a lucrative endeavor. Those who are interested in participating in the first cryptocurrency smart street can read up on Xaurum’s ICO here.
Xaurum’s main site: http://xaurum.org/
Xaurum Gamma: http://xaurum.org/gamma/
Xaurum Gamma ICO: http://xaurum.org/gamma/ico.html