Category: Telos

Gold on the blockchain

INFINIGOLD: Perth Mint Gold Token


Those of the Financial Awakening appreciate two things – the first is GOLD; the second is BLOCKCHAIN. The merging of the two was simply a matter of time. How this merging would take place was all that needed to be determined.

We thought it would have stemmed from the US. New state based precious metal depositories have been built over recent years. We assumed one of the depositories would have then established themselves on a blockchain. Allowing citizens to transact in gold and silver backed tokens, convertible for the metal held in the depository.

We have no doubt that this will still take place. However, it appears that the first institution to take their gold vault to the blockchain may be Australia’s PERTH MINT.

INFINIGOLD has released its Whitepaper 1.1. In collaboration with the Perth Mint they are taking the GoldPass digital certificate to the Ethereum blockchain, as an ERC20 standard token. The token has been aptly named the Perth Mint Gold Token – or PMGT for short.

Each PMGT token is backed by a 1 ounce GoldPass certificate, which is in turn redeemable for 1 ounce of physical gold at the Perth Mint.

Whilst stored physical gold is not allocated to each certificate, the Perth Mint claim that they have the gold available to meet any redemption request. It is also noted that the mint is guaranteed by the state Government of Western Australia – providing addition credit security.

So what do we make of this?


The PMGT is a terrific development for the cryptocurrency industry!

Tokens backed by physical assets will enhance public perception of cryptocurrency generally, as the tokens are now without doubt, a store of value. In time this should encourage more adoption of the tokens as a medium of exchange, outside of the failing fiat systems.

The PMGT could be good investment vehicle for some – just buy and hold. Though if you want to buy and hold gold – wouldn’t it be better to just buy and hold physical? Perhaps.

PMGT will be available for purchase on selected cryptocurrency exchanges for account holders who have satisfied the necessary KYC identification requirements. This in itself will limit early take-up. Once purchased however, these tokens can be moved onto the Ethereum blockchain to be transferred and traded within.

Redemption for physical gold would need to take place back at a selected exchange. This may not deter interest in the tokens though, as many would not be interested in converting anyway. Instead they may be simply looking to peg some of their cryptocurrency wealth to the price of gold – and the PMGT may be an ideal solution.

However, if the desired purpose of the token is everyday trade – forget it. A single transaction on the Ethereum network is costing as much as $US20 at present. The network is being pushed past capacity by the current exploding DeFi demand. The high transaction costs and network limitations will crush any chance of PMGT replacing fiat currency as an exchange medium.

In many ways it is a shame InifiniGold selected the slow and overworked Ethereum network to build their product on. There are so many other options now. In fact, one of our two favourite blockchains, Telos, is already capable of running thousands of transactions per second, with all transactions being feeless.

Furthermore, the Ethereum Virtual Machine (EVM) is built upon Telos, allowing token developers to continue to use their Ethereum style coding, on this profoundly more capable public ledger.

In the end…

the PMGT is certainly a step in the right direction, on the path to Good Money.

You can find more information on the PMGT here.

Have a wonderful weekend all.

GOLDSMITH



Looking for more information on GOLD, try…

And for more information on BLOCKCHAIN, try…

Appics

Beautiful social media on the blockchain


Here at Goldsmith Money we often spout the benefits of blockchain technology for the gaming industry. The trustless and decentralised ledger is perfect for the creation of massive gaming ecosystems, with financial opportunities galore.

The same may also be said for social media. Whilst Twitter and Facebook generally offer users indirect financial benefits through the promotion of their goods and services. They offer very little in the way of direct financial benefits to the true influencers and content creators on their platforms.

Introducing Appics

Appics joins the Telos blockchain – August 2020

When built upon a blockchain, social media platforms are able to rely upon the exact same decentralised ledger attributes – trustless, auditable, infallible, cost effective – to develop their own financial ecosystem. This blockchain foundation then allows for community trust in the platform and builds value within.

In building a valuable ecosystem, the blockchain social media platform is now able to distribute system earnings directly to the creators, influencers and community builders, based on their level of contribution.

The rewards will usually take the form of the native token to the platform. The value of the tokens will then be determined by the free market, through cryptocurrency exchange participants. The value will of course fluctuate. Over time however, consistent, good quality content creators, may be able to build a reliable income stream for themselves.

Appics…

is a sleek and beautiful reward based social media platform built upon the blockchain for the reasons mentioned.


Appics is not the first social media platform built upon a blockchain. However in our opinion, it is the first built to a speed, aesthetic quality and functionality high enough to take on the mainstream players for usability. And ultimately it is usability which will determine whether it is suitable for mainstream adoption.

A blockchain based social media platform will only ever be as good as the blockchain it is built upon. So it was no surprise for us to see Appics announce that they would be moving to the Telos blockchain.

Telos is arguably the fastest, most powerful and most decentralised blockchain in the world. It is also one of only a very few blockchains with built-in governance solutions. Telos has a huge technical support network, which has just recently built social media functionality into the chain itself. A testament to their capabilities.

Of course when it comes to Telos, Goldsmith Money is a token holder and highly biased as to its quality. Make no mistake however, the merger of these two platforms is most certainly value accretive for both.

So we are thrilled to bare witness to the merger and welcome Appics with open arms. See our greetings message here.



Over the next 6-8 weeks we will look to incorporate Appics into our social media tool kit, utilising this platform to build our brand and our income potential.

A consistent theme throughout Goldsmith Money is ‘Trends’. Whilst the trend into blockchain gaming is unmistakable at present, when it comes to social media, the signs are much more subtle.

What we are seeing is people now willing to move away from from the major platforms like Facebook and Twitter and into other centralised platforms such a Parler. Will this carry into Appics – only time will tell.

Something to look out for though are the celebrities. Where the celebrities go, the masses tend to follow. Should a celebrity or two turn up on Appics – mass adoption could follow shortly thereafter.

Finally – if you are still reading this article, I deem you to be one of the Financial Awakened. And as one of the Financial Awakened, you should be always questioning where you are spending your social media time and efforts. Time is money afterall.

Ask yourself, ‘do I continue investing my valuable time into Facebook and Twitter, building value for their shareholders?’

Or, ‘should I consider building value in my own brand, in conjunction with the brands of others – within a rewards focussed decentralised community?’

Money talks ladies and gentlemen – everything else is mere garble.

You can learn more about the Appics at their website here; and, I hope to see you there soon.

GOLDSMITH.

Farm Game / Dota 2

Connecting the Steam gaming platform with the Telos blockchain


Blockchain gaming is moving forward in leaps and bounds – and Telos is sure to have a big role to play in this.

Farm Game has opened up a world of opportunity for gamers, linking all the benefits of blockchains (decentralised and trustless financial ecosystems), with the massive Steam gaming universe.

Starting with the multiplayer, online battle arena video game Dota 2, Telos will allow gamers compete with one another for decentralised tokens and assets. Subsequently these assets may be transferred, spent or otherwise – instantaneously and globally.

Whilst still at early stages of integration, Farm Game offers a great taste of gaming developments to come.

For further information, check out the Goldsmith Money YouTube video below.

And if you are interested in connecting to Farm Game to play in the Dota 2 Telos events – please use the following invite link. PC only at this time.

https://dapp.farm.game/ref/cryptowombat

Happy gaming.

Goldsmith.


Telos, Farm Game and Dota 2 – 3 August 2020

Telos Saves the World

An ode to a reliable utility blockchain.


There was zero social distancing in the hall,
This gathering would be attended by all;
A cryptocurrency bonanza,
A blockchain – extravaganza.

Bitcoin veterans suave as could be,
Buterin’s boys singing Ethereum Me.
Binance reps were strutting the floor,
Litecoin ladies gave greeting at the door.

Ripple was there, but feeling unwelcome up-back;
with the Monero men, all shrouded in black.
Tezos was seated, Zcash was too,
NEO and NEM had just stepped out to the loo.

As Satoshi softly keyed the grand piano,
Closely nearby stood the likes of EOS, Xaya and Cardano.
The Tron team was all in here of course;
Along with the Hive guys, showing little remorse.

All-in-all the turnout was Stellar,
regardless of this being one huge crypto Tether.
Because soon a bombshell, was about to drop,
Which nothing short of an Exodus could readily stop.

A familiar and experienced architect walked out on the stage,
Matured and wise; made Ivan on Tech look a simple young page.
And though this audience could sense his forlorn,
He swore he would take this crowd by the Horn.

Ladies and gentlemen, this point I unveil,
Proof of stake and decentralised governance will ultimately prevail,

And as the sounds in the hall rose and swirled,
he exclaimed…

Telos will save the world’.

What started as mirth, soon became laughter,
Even B1 and Larimer were rolling on the floor.
How could this unknown EOSIO blockchain,
Possibly lay claim to be anything more?

Undeterred by the shreeks, the jeers and the heckling,
the MC threw just one question back –
Name the single biggest problem all the world faces?
And give this here Telos blockchain a crack.

Crypto-enthusiasts are curious by nature,
And will never let a problem go unsolved.
So the room went dead quiet in this moment.
And would remain this way until problem resolved.

‘Covid19’ was the response from the gallery,
Some Theta fan from within the BAC rank,
The reply however was swift and decisive,
Telos keeps all the virus data for Genobank.’

Dogecoin weren’t taking this matter too lightly,
the world’s biggest problem was ‘Fake News‘, of course.
And this is why Telos has ‘Unbiased’,
to gather the news and the facts from the source.


‘The problem is Social media censorship,’
Berwick and the libertarians proclaimed.
And this is why Telos has Murmur,
Peeranha and Unbiased again.


‘Come on, get real’, said the Steem crew,
Unrewarded content creation’ is the problem that breeds.
‘You are right’ replied this grinning conductor,
‘And Telos has Newlife, Zeptagram and Seeds.’

Tensions were beginning to rise now,
And the frustrations you could cut with a knife.
For everyone knew where this was going,
and the urgency had just become rife.

According to Xaya ‘Game Worlds and human mining was the solution,
And, Telos doesn’t have games!’

‘Well actually, we’ve partnered with Unity through Qudo,
We’ve also got Angry Warlords, Blox and V8 Planes.’

‘Our journey with games doesn’t stop there though,
we have dRealms coming soon, prey tell.
Not to mention our last massive announcement,
the Steam Gaming Platform, via Farm Game, has started using Telos as well.’


You could have heard a pin-drop,
with the room in a complete state of shock.
This Maestro had picked up a hammer,
to decisively crushed the last block.

Decentralised and trustless document storage,
we are calling this our dStor,
Quick, uncensored and interplantary,
it is IPFS, plus video, plus more.


Do we need to remunerate musicians and lyrical artists?
Well Telos has Zeptagram for this.
Crowdsourcing and rights trading; it is,
New art, new sound, new world bliss.


You are forgeting the poor and disadvantaged,
Called out one mislead member of Dash.
No way – we are most certainly banking the unbanked,
And for this we have Sesacash.


Or are you talking food assistance?
Another “world saving” place to start,
Telos is scaling All_EBT’s public welfare programs,
A virtual card with a heart.’

Worried about the real world communities?
We’ve got them here at Telos too.
Africans, South Americans and Christians,
Our blockchain based societies – just to name a few.


‘We’ve got a working foundation, worker remuneration,
and double digit REX staking rewards – does it get any better?
Yet we never had the need for ICO money,
So we are not a security – and we even have a legal letter!


‘Please excuse the brief off-topic, sorry to digress,
Saving the world needs free and fair elections, to ensure true democracy.
For this we have Telos Decide – blockchain ballots and voting,
End intimidation, illegal voting and political hypocrisy.’

‘Why don’t we cut to the chase and be honest,
Blockchain is let down by one major theme.
Twelve transactions per second….
Would always stop us from going mainstream.’


‘Telos has solved this problem,
Thousands of transactions per second have been seen.
All for free on our decentrized blockchain,
With our efficiency keeping the environment green.’


‘Forget about a lightning network,
Forget about Ethereum fast,
Now through our Transledger partner,
You can transfer Bitcoin and Ether on Telos…

instantly… en masse… for free… at last!’

GOLDSMITH


Photo by Suzy Hazelwood on Pexels.com