GODcoin: "a Better Cryptocurrency Than Bitcoin and Ethereum"

godcoin (58)in #crypto-news • 6 years ago

In a recent article with the title, "How to Build a Better Cryptocurrency Than Bitcoin and Ethereum", it was revealed that according to the late American Mathematician, John Nash, his concept is slowly becoming a reality. Years before his passing he "became consumed with the concept of a global currency." According to the article, "if such a currency could be backed by a precious metal and hold a strong universal appeal, it could achieve a stable value."

Blockchain's emergence, and the advent of digital currencies that rely on decentralized 'ledgers,' made Nash's theory one step closer to reality. Of course, modern cryptocurrency price dynamics do not enjoy the stability that Nash would have liked to see, in part because of a gauntlet of market manipulators and price fixers that have come to dominate this new digital marketplace.

Achieving a currency with both global appeal and stable equilibrium price dynamics requires a structure that serves and balances the interests of two distinct groups: the investors who provide the money necessary to build the new currency systems, and second, the users who exchange goods and services using the currency. This second group in particular is benefitted by a currency with unambiguous, hard, intrinsic value.

Of course, cryptocurrency, in general, has a "global appeal", but almost every cryptocurrency, especially Bitcoin, does not hold that "intrinsic value" since it is not backed by any tangible asset. Not only that, but the current global market is corrupt and will inevitably crash, therefore the current cryptocurrencies pegged on fiat currency will never be stable. In the article's words:

Today's purely digital tokens fall well short of this. They lack intrinsic value, for one thing, and in the absence of an unambiguous 'anchor' of value, such as a physical asset, there is too much uncertainty around the token's economic value. This fuels price speculation and volatility, as we've seen with cryptocurrencies like Bitcoin.

The article did offer some of their "solutions" in order to alleviate these problems. "One solution to these problems is a hybrid token structure in which both a physical asset and a digital asset are contained." The article outlines some ways in order to achieve this and leaves the reader pondering the following:

This hybrid token structure, explicitly enabled by blockchain technology, can be the realization of Nash's dream for a universal global currency with a global appeal that resists manipulation and maintains purchasing power. It could even set the standard for a new economy and a new way of investing in physical assets. The implications for investors, dealers, buyers and financial institutions are vast. If we get it right, blockchain really does have the ability to change the world.

Mr. Nash and the author of this article have actually described the vision of GODcoin! GODcoin will be a "dual token system" in the sense that there will be a gold and silver token. These coins will be backed by the hard assets of gold and silver, according to their respectful coin. GODcoin also aims to be THE global currency once the current fiat market collapses, which it will, and be the monetary system of the future. GODcoin is currently being built to do what the other cryptocurrencies on the market cannot. Therefore, GODcoin will be "a Better Cryptocurrency Than Bitcoin and Ethereum."

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This article was authored by Judith Monte, @belovebelight

There are many advantages to GODcoin especially since it is one of the few coins that will be backed by gold and silver. Not only does GODcoin offer the illuminated path towards a prosperous future, but very soon, it will be the global currency. To learn more, visit the following links:

View the history leading up to the white paper