TCG and its five investing partners - Royal Carats Gems, King of Ore Mine, Tawansangthong Mining, Supreme Gold Mining and Gold Soil Mines - have joined hands with Taurani Investment Venture Capital, Investment Company from Dubai unveiled their gold Crypto coin, “Gold Backed Coin”. It converts gold goods worth more than 877 million dollars, or 300 tons of gold from more than 40,000 rai of gold mine, into a cryptocurrency called Gold Backed Coin. They boasted that the coin has a high confidence value. The new cryptocurrency is anticipated to revolutionize the world of digital money.
TCG CEO Jacky JT Wong stated that “since the mid of 2021, TCG was met with success in deputing INFOTEX, the world’s first social media application that integrates a function for users to ‘mint’ their NFT and then share & sell them to their fans and Agency. TCG is forging ahead in the crypto world this year by formally launching a Gold Backed Coin in order to increase the acceptance level of Gold Backed Coin. Previously, it was a common practice to raise capital by using a restricted amount of gold backed up by the value of a 'token.' However, the new 'Digital Gold Coin (DGC)', which will be operated by TCG, will be backed up by a real approved gold mine in Zambia, which will be run by Royal Carats Gems Company. For the past ten years, the mine has been generating a constant stream of gold, with an original estimated value of no less than 300 tons or more than 877 million dollars. TCG and its Dubai-based investors will digitize these gold items into a Gold Backed Coin type token, which will have significant market value.”
“Furthermore, Gold Backed Coin will change cryptocurrency by backing the value of cryptocurrencies with mainstream assets. TCG intends to issue such coins around the middle of this year. The project is backed by Dubai investors, including Taurani Investment Venture Capital of Dubai International Finance Centre (DIFC) Public for 100 million dollars. The agreement was signed on December 29, 2021. In addition, the company has established an SPV (Special Purpose Vehicle) joint venture in Dubai, which will function as a base operation and oversee the entire business.”
“The system is complete in every way. It provides an Exchange System for the DGC chain, as well as a complete Platform Ecosystem. The corporation is currently working on Metaverse-related solutions, which will be presented on a global scale later this year. The effort, dubbed "ECO-CHAIN," will be co-created within the Blockchain 3.0 architecture. It is a new sort of Blockchain technology centered on Ecosystems.”
“The project's inspiration stemmed from two diametrically opposed main investment disciplines. One believes in cryptocurrency, while the other believes in gold. Those who embrace cryptocurrency refer to the new currency as 'Digital Gold', which corresponds with TCG's concept of digitizing actual gold from gold mines into a digital token, dubbed "Gold Backed Coin." The coin has real-world worth, exists in limited quantities, and represents the actual amount of certified gold in the real world. This will assist to lessen volatility in the bitcoin market and will attract more investors to cryptocurrencies,” concluded Jacky.