SovereignCoin will become one of the largest financial and digital asset infrastructures connecting hedge funds, central banks, family offices, pension funds, Fortune 500 companies and even sovereign funds for global trade and an alternative world payment system for the $155 trillion in cross-border transactions made each year.
However, where competing currencies like ‘Ripple’ provide a digital currency which banks and payment providers can integrate for cross border transactions, Sovereign’s currency goes one better and offers a ‘Goldlabel’ solution for all companies wanting to own their very own cryptocurrency.
Timothy Burke, founder of SovereignCoin, adds; “For the first time, we are providing our software, token design, cryptocurrency and blockchain technology as a ‘Goldlabel’ solution for central banks, hedge funds, VCs, UHNWIs, family offices, international conglomerates and Fortune 500 companies. These companies can now use our technology to own their own digital cryptocurrency. The solution dramatically increases share price as seen in Kodak’s recent announcement and provides a very powerful, new revenue stream for any company taking on their own currency.”
Looking at CoinMarketCap, as of today, the top 35 crypto coins are each worth over $500MM and more with the top 21 coins each being worth over 1 Billion dollars. Even Dogecoin, which was setup as a joke, is now worth $730MM down from a high of $2.4 Billion. Meanwhile, several other joke cryptocurrencies have mimicked Dogecoin’s price rise–from coins for the dental industry (Dentacoin, with a $750 million market cap) and the cannabis industry (Potcoin, $52 million market cap) to ones named after world leaders –TrumpCoin ($1.4 million market cap), PutinCoin ($5.9 million market cap).
Sovereign sees the value of providing a similar ‘Goldlabel’ solution for any company wanting their very own cryptocurrency. Sovereign will provide a complete end-to-end solution which can be renamed and stand alone to work within the company, its employees and customers or plug into Sovereign’s global digital asset infrastructure.
Sovereign Goldlabel will also be one of the first true ‘stable’ digital commercial currency by having its corporate clients back the currency and their transactions and trades with hard assets using their Proof of Asset (POA) protocol which is verified and integrated into Sovereign’s blockchain to help stability.
Tim continues: “It’s a real-time, payment and deposit solution for banks, financial companies, corporate businesses and international companies specializing in large volume transactions from high value real-estate deals, aerospace and defense contracts, tier one Mergers & Acquisitions, national debt processing to large-scale business transactions and international energy, or commodity and oil trading’.
Sovereign will provide a premiere network for cross-border payment solutions from bank to bank, business to business while providing a stable and real-time network for liquidating digital currency to fiat at international financial institutions and banks across the globe.
Tim continues: “We have assembled an incredible team and company with the very best and brightest minds in the blockchain industry. Our technology is being developed with companies that have built platforms for Fortune 500 companies, and we work with the most secure token and crypto payment processing companies which is part of the Goldlabel end-to-end solution. We take our clients through every step of setting up, creating and managing their own currency. We also have contacts with all the top utility exchanges for when a company or corporation wants to trade their tokens and coins on the globals markets or a security token in late 2018.”
Most recently, companies like Atari and Kodak have announced plans to create their own cryptocurrencies. As a result, Kodak’s shares rose $3.70, or 119 percent, to $6.80 in New York, boosting Kodak’s market value to $289.5 million. And Atari, the company behind iconic video games such as Pac-Man and Pong, is planning to launch its own cryptocurrency, dubbed “Atari Token,” according to an announcement last week. “Our aim is to take strategic positions with a limited cash risk, in order to best create value with the assets and the Atari brand,” Atari chairman and CEO Frederic Chesnais said in a statement.
Sovereign’s project doesn’t stop there. They also have a SovereignNation Solution (SNS), a solution now available for small nations and their treasuries and their sovereign funds to own, manage and operate their own digital currency named after the country. i.e Puerto Rico Coin. You can already see nations like Venezuela taking advantage of blockchain and adapting their own cryptocurrency. Venezuela’s new “Petro” cryptocurrency has attracted interest and investments from Turkey, Qatar, European countries and even the United States according to the digital currency’s regulator.
Venezuelas “petro” cryptocurrency raises 735 million in first day of launch
The new cryptocurrency will be limited to 100 million units, called the mene. The ‘Petro’ token will be backed by Venezuelan oil, gas, gold and diamond reserves. The ‘Petro’ cryptocurrency was announced by Maduro at the beginning of December as a way “to innovate toward new forms of international finance for the economic and social development of the country.”
Maduro explained that the purpose of the currency was “to advance the country’s monetary sovereignty, to carry out financial transactions and to defeat the financial blockade against the country.”
Petro hopes to remedy that by offering the 31 million people of Venezuela an “opportunity for using other assets to backup the currency.”
The government plans to make the token useful by allowing people to pay taxes and fees with it.
“The Bolivarian Republic of Venezuela guarantees that it will accept Petro as a form of payment of national taxes, fees, contributions and public services”
There are so many advantages of a nation taking the SovereignNation Solution (SNS). First, once a nation connects to Sovereign’s global financial infrastructure this opens a nation to instantly trade with Sovereign’s pre-loaded smart contracts with banks, Fortune 500, family offices, Ultra High Net Worth Individuals (UHNWI), companies and international conglomerates also connected to the Sovereign currency.
A nation can now connect all its departments including departments of trade, departments of defense, aerospace and commerce to each other. Tens of thousands of employees could also be paid instantly once connected to the nation’s cryptocurrency by downloading Sovereign’s on-handset mobile application called ‘RUON’ – being launch in early 2018. In Venezuela’s case, while integrating their own cryptocurrency, it avails the country to World trade and also helps with the nation’s debts, large scale energy and commodity trading as well as national conservation and avoidance of some current sanctions on their nation.
SovereignNation can stimulate economic growth by connecting to a nation’s central bank and providing nation to nation settlement solutions within a digital financial framework at a fraction of the cost and time as traditional banking methods. SovereignNation provides a global digital payment solution between central banks and corporations in seconds, not days. Every stage of the payment cycle is reported on the blockchain hyperledger to provide total transparency and visibility through the whole transaction. The currency will specialize in large scale B2B transactions of the highest level while also providing a micro framework for peer to peer instant transactions within the country’s population.
Welcome to the one world currency. Made by the people for the people. Welcome to Sovereign.
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