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.
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.
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:
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Spend 10 troy oz worth of e-gold
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Spend 5.3 grams worth of e-gold
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Spend US $100.00 worth of e-gold
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Spend CHF 685.88 worth of e-gold
he 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:
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e-commerce
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Business-to-business payments
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Point of service sales
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Person-to-person payments
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Payroll
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Bill payments
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Charitable donations
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Monetary base of the AUG* economy
* AUG is an abbreviation for the currency unit "grams of gold".
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