Thursday, February 8, 2018

BasilBit gold and silver backed cryptocurrency preparing final steps for initiation of ICO

One of the more interesting things that occurred last Thursday when nearly all cryptocurrencies were experiencing a meltdown was that of the Top 100 cryptos according to market cap, only one actually gained while the other 99 declined sharply.

And that cryptocurrency was a gold backed one.

Thus the battle over cryptocurrency dominance may soon not be between cryptos like Bitcoin versus fiat currencies like the dollar, euro, or yen, but between unbacked cryptos and those backed by tangible resources.

And on Feb. 8 a strong player in the resource backed cryptocurrency game announced they are just about finished with a new White Paper that will facilitate the final steps needed to initiate an ICO of their planned gold and silver backed cryptocurrency.

BaselBit AG, a leading gold and silver-backed cryptocurrency platform, announced today the publication of a whitepaper on the merits of its Blockchain system and asset-backed BaselBit cryptocurrency, known as "BB3". 
This in-depth report discloses BaselBit AG's platform functions, digital wallet, security, reinvestment of proceeds, token structure, the source of funds, collateralization of currency, the stability of its assets, market analysis and overall competitive edge. 
Two precious metals with historical financial stability, .999 pure AG silver and .999 pure AU gold collateralize the BB3 currency. BaselBit AG has created a Distributed Ledger Technology ("DLT") Platform and Exchange that improves customer executions and commerce with a secure vehicle, BB3, having a monetary lien system with secured asset backing of actual gold and silver holdings. 
The BaselBit AG whitepaper demonstrates the value of backing an eCoin token with a secure, tangible asset. The price of BB3 is expected to be equal to or greater than the price of gold or silver's respective values. Much of the revenues generated by each BaselBit3 transaction are continually reinvested to buy additional gold and silver, backing more currency as the platform progresses. BaselBit AG has already secured $1 Billion in asset backing with plans for additional security. – Digital Journal

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