e-gold is an electronic currency,
issued by e-gold Ltd., a Nevis corporation, 100% backed at all
times by gold bullion in allocated storage.
Other e-metals are also issued: e-silver is 100% backed by
silver, e-platinum is 100% backed by platinum, and e-palladium
is 100% backed by palladium. However, the most popular e-metal
(by an overwhelming margin) is e-gold. e-gold is integrated into an account
based payment system that empowers people to use gold as money.
Specifically, the e-gold payment system enables people to Spend
specified weights of gold to other e-gold accounts. Only the
ownership changes - the gold in the treasury grade vault stays
put. e-gold is always as
good as the gold it's backed with - this year, next year, a
thousand years from now.
trustworthy
Pursuant to the e-gold Account User Agreement, the physical
bullion that comprises the value backing e-gold must be
insulated from physical, legal and political risks. Title is
held by The e-gold Bullion Reserve Special Purpose Trust that
exists for the express purpose of holding bullion for the
exclusive benefit of all e-gold account holders collectively.
The bullion is held in the form of certified good delivery bars
in allocated storage at repositories certified by the London
Bullion Market Association (LBMA). Metal is held free of any
lien or encumbrance whatsoever and explicitly may not be
attached to any liabilities of e-gold Ltd. or any other entity.
No metal may be removed from storage or any other disposition
made without the signatures of both e-gold Ltd. and a third
party Escrow Agent of good reputation.
transparent
e-gold Ltd. offers an unprecedented level of ransparency:
Audit total circulation; compare to physical reserves.
Total e-gold in circulation vs. total bullion reserves are
provided in real-time via the e-gold Examiner utility accessible
from the e-gold website, as well as Statistics relating to the
use and growth of the e-gold system.
world wide money
The world wide web needs world wide money. e-gold was created in
response to this need.
e-gold is accounted by weight of metal, not US$ or any other
national currency unit. Weight units have a precise, invariable,
internationally recognized definition. Additionally, precious
metals, gold in particular, enjoy a long history of monetary use
around the world. Thus, e-gold is ideally suited for
international transactions.
Although e-gold is accounted by weight, the e-gold payment
system allows Spends to be expressed in terms of eight major
national currencies (as of this writing). For example, it's
possible to:
* Spend 10 troy oz worth of e-gold
* Spend 5.3 grams worth of e-gold
* Spend US $100.00 worth of e-gold
* Spend CHF 685.88 worth of e-gold
This means (for example) that a Canadian can pay a German or a
Japanese can pay an Australian the correct weight of gold
(e-gold) for a good or service as easily as if the price had
been quoted in his own national currency.
benefits all users of money
The target market for e-gold is simply people who use money. How
do you presently use money? Chances are any of these activities
would benefit from the increased soundness, security,
efficiency, and lower cost of e-gold. Here are some examples of
how e-gold is presently used:
* e-commerce
* Business-to-business payments
* Point of service sales
* Person-to-person payments
* Payroll
* Bill payments
* Charitable donations
* Monetary base of the AUG* economy
* AUG is an abbreviation for the currency unit "grams of gold".
