Xaurum Gamma Builds the First Crypto Smart Street

One of the main complaints leveled against cryptocurrency by its skeptics is that it is not backed by any sort of store of value. (Usually these same individuals forget that most fiats are no longer backed by anything like gold, silver, or some other precious metal.) One project, Xaurum, is looking to change this with its “golden blockchain.”

What is Xaurum?

Xaurum is a representative unit of value on the “golden blockchain.” That blockchain is a transparent, public ledger that maintains the distribution of actual gold held by the Xaurum Commonwealth. This token was originally part of Blackcoin’s PoS blockchain, but now lives in the Ethereum ecosystem.

This coin can be mined in pools or alone, and is directly exchangeable for the gold value stored in Xaurum’s gold reserves. This gold may be delivered globally as well. The project itself is represented by a non-profit organization, the Auresco Institute.

Xaurum Gamma

Backing cryptocurrency with gold is an interesting idea in and of itself, but Xaurum takes innovation within the cryptocurrency sphere to the next level. The company is working on a cryptocurrency smart-street. The goal here is to provide the Xaurum CommonWealth with the opportunity to expand its backed cryptocurrency investments into real estate in addition to the gold it already holds. Small-time investors would not otherwise have the option to explore real estate as an investment, yet the Xaurum CommonWealth can now provide that opportunity via its new token, Xaurum Gamma (XGM). This cryptocurrency asset connects the crypto world to the real estate world. All activity will be transparent on the blockchain, so all members of the CommonWealth will be well aware how their investments are performing.

The smart street itself is comprised of six luxury villas on the Croatian Island Krk. Villas at this tourist spot can be rented out for XGM by the CommonWealth. In fact, all services available for purchase on the smart street require payment in Gamma tokens. Half of the profits from property rental is reinvested in Gamma and Xaurum to increase the value of the entire ecosystem. Some of those profits are also reinvested in new real estate to grow the CommonWealth’s asset pool. The more real estate it has to rent out, the more likely it is that it and its members will profit.

Having an entire cryptocurrency community have a physical location is an incredibly unique idea. It will be interesting to see how it develops as time goes on.

Bringing Physical Worth of Digital Assets

Xaurum is trying to bridge the divide between cryptocurrencies and more traditional investments. This is a currently untapped market that — if entered correctly — could be a lucrative endeavor. Those who are interested in participating in the first cryptocurrency smart street can read up on Xaurum’s ICO here.

Related Post

 

Xaurum’s main site: http://xaurum.org/

Xaurum Gamma: http://xaurum.org/gamma/

Xaurum Gamma ICO: http://xaurum.org/gamma/ico.html

 

This is a sponsored article and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment or trading advice. Always conduct your own independent research.

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The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect The Merkle's view.

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  • What's the point of backing it with Gold if you can't readily exchange the Crypto coin for Gold? The only reason fiat money was ever backed by Gold and Silver was to control the supply so that the Government can't do what the Weimar Republic did, print money to pay bills.

    If the Crypto is structured correctly, none of that is an issue, so there is no need to back it with anything.

    • Your way of thinking is pretty naive. It was more than 5,000 years ago that primitive commodity money was used in Mesopotamia, and it’s been over 3,000 years since metal coins began circulating. For more than 99.2% of human civilization, money actually meant something… right up until 1971 when Richard Nixon ended any remaining link between the dollar and gold. And people agreed that they are willing to exchange goods with papers that actually have no value. It is just an agreement... Fiat currencys are mostly based on thin air, and the same goes for 99% of cryptocurrencies. Why do you think financial crises are happening more and more often?

      No matter how crypto is structured if its not backed with anything in crisis some people can loose everything. As fare as it goes for Xaurum, there is gold behind it and in the worst case scenario, !you can! exchange this crypto for gold. Anytime, anywhere in the world. I do not know for you, but I would rather hold on to something that has some value no matter what.

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