Aureus Nummus (ANG) is a digital currency and asset backed by Real gold
Greetings to you all readers, in this article i will be discussing what exactly this brand new and pathfinding innovation AUREUS NUMMUS is all about and i will appreciate your standing by till the end.
Many people in the fintech industry would agree that we are all very lucky to be living in this significant moment in time, where blockchain and crypto have only just appeared on the global scene. Fintech has opened up a new world for business, a world with a lot of room for new ideas and developments.
Aureus Nummus Introduction
Aureus Nummus solves the challenge of fiat currencies while maintaining the ease of value transfer. This new gold backed coin follows the age-old concept of value-backed currencies. However, as the gold is represented by ANG coin, a means to transfer gold value through tokenisation becomes possible. Hence, ANG coin is one of the few non-fiat currencies on Earth.
While counties around the world may be careful in considering the role such a new cryptocurrency can serve, the crypto markets is eager and primed to the massive benefits of the ANG gold coin.
Unlike the existing stable coins that are placed on the value of fiats, gold coin is backed by one of the most precious assets. The interesting thing about the ANG gold coin is that; it will be immune to political changes, which will ensure that it can easily be paired against many coins for trading without any disruption.
ANG coin will provide blockchain enabled transparency over the assets backing the circulation. As existing stable coins, including Tether, face scrutiny over its backing, this will be a pioneering step ensuring a stable coin’s backing is easily under the public eye at any point.
ANG coin is transforming the age-old value storage of gold into a modern utility by tokenizing it. One of the most important benefits of the ANG coin will be exploited by easily placing trading pairs with it.
HOW DOES THE AUREUS NUMMUS MAINTAIN ITS INTRINSIC VALUE?
The Aureus Nummus administration puts for each 100,000 ANG coins that are sold to the public one ounce of gold bullion or gold equivalent into a trust account. The Aureus Nummus is based 1:1 on directly allocated physical gold or gold equivalent.
THE NEED FOR CHANGE – ADVANTAGES OF AUREUS NUMMUS BASED BUSINESS TRANSACTIONS
Trust
One of the major challenges that has impeded advancement of the global marketplaces is how to manage deal contracts between two people who do not know each other. The Aureus Nummus resolves that problem by encrypting its smart contract and deal transaction information on a shared ledger. Therefore there is no way one party can say that they did not see it. Furthermore, the smart contract, which executes the business transaction, is executed through distributed nodes with not one single point of failure, therefore, making them completely tamper proof and completely immune against information loss.
Autonomy
The Aureus Nummus is completely autonomous. Its underlying smart contract has no need to rely on brokers, lawyers as well as other intermediaries in order to enter into a sale agreement. Furthermore, execution is managed in the network through a decentralized system and the incidences of error are virtually zero.
Security
The security of the Aureus Nummus is based on the blockchain technology and thus 100% safe and secure, as everything is stored in a distributed network. Therefore, as explained earlier, there is not one single point of failure. Cryptography ensures that the documents are completely safe and incidences are virtually zero as the distributed ledger technology does not grant access to hackers. In order to succeed hackers would have to hack many 1000 computers simultaneously at the same time in different geographical locations – a task that is not possible to accomplish.
Speed
Smart contracts based on the Aureus Nummus are faster to implement than traditional contracts. The paperwork required in order to enter into a sale agreement in a traditional marketplace is not used in the blockchain based Aureus Nummus marketplace. Through the use of software, the Aureus Nummus smart contracts rely on secure software code in order to automate tasks and speedily execute business transactions in fully automated mode. The transaction is instantaneous, fully automated, fraud proof, tamper proof, loss proof and completely secure.
Fake Goods
The underlying smart contract, on which the Aureus Nummus is based, eliminates the sale of fake goods. Through the underlying decentralized cryptographic code, it is possible to track and verify products easily, which on a traditional centralized business platform is not possible. Furthermore, the execution of the smart contract is based on the agreement of parties. It is not possible to collude with various parties around the world to tamper with the Aureus Nummus based contracts.
No Chargeback Fraud
One of the main challenges for sellers in the traditional marketplaces is that a buyer can buy a product, pay via services such as PayPal and then call the company to reverse the payment afterward. There are many businesses that have been affected negatively by this method. The buyer can make claims that the product was never delivered or was delivered in the form of quality that they did not want. However, with Aureus Nummus based smart contracts, it is very difficult or next to impossible to alter the transactions after they have been agreed upon. Both buyer and seller will have an option of agreeing on the terms of the intended sale or transaction, but after execution the deal it cannot be reversed. This simple intrinsic feature of Aureus Nummus based contracts results in a much higher degree of confidence into transactions.
KEY ATTRIBUTES OF AUREUS NUMMUS
Independent.
Decentralized.
Open source.
Fixed supply – forever unchangeable.
Inflation free.
Not mineable.
Based on blockchain.
Transactions are anonymous.
Backed by gold. The ANG’s minimum price is pegged to gold bullion, however the ANG has no maximum price.
The gold backing makes the Aureus Nummus value stable and greatly reduces any price volatility, while keeping its upward price potential.
The ANG is not created out of nothing like fiat and crypto currencies. The ANG’s revolutionary technological innovation combines the advantages of a standard legal tender fiat currency with those of cryptocurrencies, while at the same time providing real verifiable value through its backing by physical gold.
The Aureus Nummus has a fixed and limited supply that can never be changed again.
The Aureus Nummus is built for everyday enterprise, consumer and retail use, and is a fast, cost-efficient cryptocurrency for domestic and cross-border payments, settlements and savings.
Trust is no issue. Unlike traditional currencies you don’t need a trusted third party like a bank due to the Aureus Nummus’ transparent intrinsic value and decentralized organization. There is no single authority, who would be able to change or influence the value or the setup of the Aureus Nummus, as it is completely de-centralized, and functions based on community consensus of the Ethereum community. The Aureus Nummus runs completely autonomous based on its program without any possibility of downtime, censorship, fraud, and third-party interference.
The holders of Aureus Nummus collectively own the gold or gold equivalent, which is held in reserve in a trust account in order to back the value of the Aureus Nummus. The holders of Aureus Nummus can request that their Aureus Nummus coins be converted back into gold or gold equivalent, subject to our Terms and Conditions. The conversion rate always remains the same and is independent from any market price fluctuations on secondary markets: 100,000 ANG= 1 ounce of gold bullion.
Aureus Nummus coin
The holders of these coins can convert them back into gold or gold equivalent at any moment. The conversion rate stays constant and doesn’t depend on market price fluctuations: 100,000 ANG are equal to 1 ounce of gold bullion.
The cost of 1 ounce of gold bullion is equal to approximately 1,500 U.S. Dollars. In according with this cost, 1 ANG coin is equal to approximately 0.015 U.S. Dollars.
Aureus Nummus coin is not mineable. The supply of ANG is fixed and limited. And the transactions connected with sending and getting ANG are anonymous.
KEY RELATIONS BETWEEN GOLD, US-DOLLAR AND AUREUS NUMMUS
1 ounce of gold bullion = approx. 1,500 US-Dollars (fluctuates with daily price of gold)
100,000 Aureus Nummus digital coins are equal to 1 ounce of gold bullion
1 Aureus Nummus coin is equal to approximately 1.5 Dollar cents or 0.015 US-Dollars.
Finally, it is factual that smart contracts are set to revolutionize the way business is conducted and marketplaces are managed – the underlying blockchain technology guarantees efficiency, low cost, more variety and more increased certainty of sale, and total certainty of business contract execution.
For More Detailed Informations, Visit
Website : https://an.gold/
Whitepaper : https://an.gold/wp-content/uploads/2019/08/AN_presentation_wd.pdf
Facebook : https://www.facebook.com/aureusnummus/
Twitter : https://mobile.twitter.com/ANummus
Telegram : https://t.me/AureusNummus_community
Linkedin : https://www.linkedin.com/company/aureus-nummus-gold/?viewAsMember=true/
Instagram : https://www.instagram.com/aureusnummus/
Reddit : https://www.reddit.com/user/Aureus-Nummus
Ann (bounty) Thread : https://bitcointalk.org/index.php?topic=5242557.0
Authorship: Joecolern
Bitcointalk Url:https://bitcointalk.org/index.php?action=profile;u=2246034
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