CryptoG has launched a global wealth distribution project aimed at restoring financial power back to the people.
— Its official token, CTG, is a digital currency used within its community as a worldwide cross-border anonymous payment system in exchange for goods and services, 100% backed and redeemable for gold.
“With our secure private gold vault located in South East Asia (one of the largest privately-owned gold mining reserve), anyone around the world may use CTG as a form of payment or as a medium of exchange to trade for goods and services,” a representative of the company said in a statement.
CryptoG said CTG is what a currency should be. It is backed and redeemable for pure physical gold, free from any inflation factor since there are only 30,000 units of CTG issued and locked forever, fully anonymous without complicated Know Your Customer (KYC) procedures and verification, and no middleman as transactions are done directly between sender and receiver, among other things.
“CTG can also be swapped with other assets including crypto, stocks & fiat, seamlessly transferrable cross-border to anyone at any part in the world, lighting fast transaction time between 2 to 5 seconds, no limitation to the amount transacted whether it is a dollar ($1) or a hundred billion dollars ($100,000,000,000),” the representative added.
CryptoG said it seeks to be the pioneer in the innovative solutions for the next generation of global decentralized finance, in the wake of mounting global financial challenges including debt bubbles and inflation, among others.
“Around the world, people are consumed by fear and anger, and one question is on everyone's lips: Is the financial crisis over, or are we headed towards economic disaster? With the rise of cryptocurrency and bitcoin and with money becoming more worthless, there’s a need to look at setting up global decentralized finance,” the representative said.
CryptoG said it seeks to break the conventional financial ground by bridging liberated governance to give back financial power to the people.
CryptoG said as one of the first non-profit organizations “represented all around the world within our anonymous community since 2004 to use cryptographic and blockchain technology to break new grounds in the financial world,” CTG is part of a global wealth transfer or distribution project with the sole purpose to give financial power back to the people.
“Backed by one of the largest privately-owned gold reserve vaults located within South East Asia, through our gold mining project, the total future market capitalization of CTG is projected to be valued more than $1,000,000,000,000.00 (One Trillion US Dollars), or around 10 percent of the current gold market capitalization on the 4th quarter of the year 2023,” the representative said.
CryptoG said the groundwork for the gold mining project has started way back in 2009, with the initial shareholder's fund invested as an early capital outlay “to finance a team of experts that stumbled upon a mountain of goldmine worth trillions of dollars.”
The mined gold, according to the project, will be used as a reserve to back up the value of CTG, to be redeemed by CTG's token holders for the physical gold at any time after the gold mining project is fully completed.
Release ID: 89004571