Sustaining a regulation-compliant ecosystem with GCR
Volatility has often been called one of the major drawbacks of the crypto ecosystem and while stable coins have tried to solve this to an extent, there is a lot more that needs to be done in this area.
The Gold Coin Reserve (GCR) is building a blockchain ecosystem that relies on a self-sustained and decentralized financial system by giving the token holders control of the entire ecosystem. They are the first Gold-backed Stable coin on the Binance smart chain and is listed on CoinTiger with additional exchanges planned for next month.
What is GCR?
The GCR network is being built by eMoney Bank in collaboration with CBDC (Central Bank Digital Currency) developers Superhow in a way so that it can interact with local regulators while also maintaining the uses of the company shares.
GCR’s goal is to have a sustainable and regulatory compliant ecosystem that would allow companies to create their own security tokens while also providing them with a portal through which these tokens could be traded on a secondary market.
The Gold Coin Reserve is the stable coin at the heart of the system which is tethered to the price of gold and draws its functionality from being a multi-network digital asset. It has become increasingly popular and draws an average of $16,000,000 in daily transactions.
The GCR blockchain
The GCR blockchain is an ecosystem that is designed for a decentralized financial infrastructure and would be regulated and sustained by the GCR asset holders who would be rewarded with additionally mined tokens for validating the ongoing transactions on the blockchain.
The token holders would hold their GCR in a specially designed digital wallet where the rewards would be transferred. Some of the key features of the GCR blockchain are-
- Interoperability- Allowing APIs to seamlessly integrate with the already existing enterprise systems and processes along with other networks and blockchains, the GCR network is interoperable and supports almost all business requirements.
- Enterprise-Grade Security- With its plug-in feature, the GCR network becomes more resilient to network attacks and risks.
- Hybrid Clan- As mentioned earlier, interoperability is one of the key features of the network and users get the opportunity to control data, transaction fees, and compatibility with existing company networks with the private and public chains.
- Aggregate Transactions- A trustless system is created on the platform as it merges various transaction accounts into one by generating a single-use and disposable smart contract.
- Token and Account Restrictions- Regulation-compliant assets, non-transferable votes, and IDs can easily be created and tokens and other assets can be restricted from accounts meeting the determined criteria.
- Multi-level Multi-signature- Use cases like anti-fraud monitoring, account recovery, and ordered multi-stage transaction approvals can be easily set up by users using the multi-level and multi-signature accounts feature.
The GCR Alliance is an internal crypto-banking platform that is accessible through the GCR website with and without registration, users on the platform can convert their GCR into BTC, ETH, XRP, LTC, and USDT with the help of a flash conversion. They also have the option to convert the GCR into any of its network variants.
GCR Alliance also allows its users to stake their digital assets including GCR, BTC, and ETH in the available staking programs. Users can also keep a track of all their finances easily all in one place. The platform also does not charge any fees or put any limits to storing fiat and crypto which can be then accessed anytime.
Gold Coin Reserve’s digital asset
GCR’s own network would be launching soon with their fiat portal and there are 4 distinct features unique to the GCR.
- 10% miner’s return rate- The mining capacity of GCR holders participating in the network is directly proportionate to the number of coins held and their maturity. A 10% p.a. compounded rate of return is given to miners depending on factors such as network conditions and node stability.
- Stable coin function- By implementing constant market-making services on all trading platforms, GCR limits the volatility of the international spot gold price.
- Business development of tokens- Users will have to utilize core digital assets on GCR as gas for transactions. This differs from the other networks as other business development services such as priority discounted listings on prominent digital asset exchanges are also provided by GCR.
- A unique use of the mining function- GCR rewards its token holders for staking their coins and for validating transactions. This helps to create a self-sustained distributed ledger that removes the need for intermediaries.
The Fiat platform
The recently launched fiat platform allows users to purchase crypto via bank transfers or credit cards. The platform is trying to make crypto to fiat conversions easy with the click of a button.
Users will also get the option to easily convert the currency held in their accounts at competitive rates and withdraw fiat to their bank accounts with convenience.
The Gold Coin Reserve combines the stability of being backed by gold, something familiar in the traditional understanding of fiat money along with the innovation of blockchain on its platform. The 10% miner’s rate of return provides its token holders with a great opportunity to earn the native token by validating the transactions.
As mentioned earlier, they are the first Gold-backed stable coin on the Binance smart chain and with their own GCR network being launched soon with their fiat portal the Gold Coin Reserve has a lot in store for its users.
For more information, check out their website.
Disclaimer: This is a paid post and should not be treated as news/advice.