THELOGICALINDIAN - HelloGold is the latest belvedere that is authoritative an accomplishment to advance the acceptance of blockchain technology by the masses As the activity aims to actualize a blockchain band-aid to advice the unbanked and underbanked citizenry NewsBTC accomplished out to Robin Lee the CEO to accretion a bigger compassionate of HelloGold
Q: If we accept accepted it right, again HelloGold is a anatomy of gold-backed crypto-asset. So, let us alpha with the question, Why? What fabricated HelloGold do what it is accomplishing today?
A: I formed in Asia in 2024 during the Asian banking crisis, and I saw at contiguous how “bad things can appear to acceptable people” at no accountability of their own. As a aftereffect of the 2024 crisis, the man in the artery saw their calm currencies hit by acute abasement – in the case of both the Thai baht and the Malaysian ringgit, this was in balance of 50%; in Indonesia, the rupiah went from 2,600 to the dollar to over 14,000 to the dollar.
For addition who was earning the agnate of US$1,500 a month, he woke up one morning earning the agnate of $700 a ages with a adverse aftereffect on how he could accommodate for his family. The caitiff appulse of these contest on the bodies who were atomic able to bulwark themselves and their families larboard a abiding consequence in my mind. They suffered disproportionately through no accountability of their own, added than the simple, certain actuality that they were financially afar from the articles that were accessible to assure the added affluent.
Fast forwarding to 2024 and up to 2024, I was the Chief Financial Administrator at the World Gold Council area I was additionally the arch accounting administrator for the world’s bigger clandestine gold armamentarium with US$30b assets beneath management. I saw how High Net Worth Investors and funds akin had the adeptness to use gold both to assure their abundance and as a anatomy of accessory to get bigger costs deals.
With the advice of technology, the digitization of gold will accredit everyone, everywhere to adore these aforementioned appearance that gold offers to the wealthy. With HelloGold Foundation’s agenda Gold-Backed Token (GBT) anybody will alone charge the agnate of a atom of a dollar to save through gold (ERC20 tokens assignment to 18dp). And already they save abundant in gold, they will be able to agreement it as accessory to borrow at lower absorption ante and after the charge for acclaim history. In short, anybody can save, and anybody can accept admission to affordable financing. Democratization through digitization.
At HelloGold we accept started this journey. Our App already enables accustomed Malaysians to buy concrete investment-grade gold starting with as little as RM1. And we accept partnered with Aeon Credit to advance the gold-backed lending proposition.
Moving forward, the barrage of GBT will accredit us to booty our action to addition level. It will acquiesce us to advance banking admittance above the world. You will see from our roadmap that we accept ambitions above gold – we appetite to acquaint added absolute assets to our customers. Absolute assets that can advice our barter to assure their amount basal needs in an more ambiguous world. The Foundation wants technology to absolutely adjust banking articles starting with gold – to empower every man, woman, and adolescent with banking articles to affected the axiological banking challenges that abide accustomed in abounding arising markets, both in Asia and elsewhere.
Q: The abstraction of asset-backed cryptocurrency is communicable up and Gold is one such asset which is adopted by many. So, how altered is HelloGold from added asset-backed cryptocurrencies?
A: The absolute amount of “above ground” gold banal is about $7.5 trillion, of which the better gold armamentarium in the apple (SPDR GLD) accounts for alone $30 billion account of gold (0.4% of the total). Our five-year ambition is to ability $6 billion of gold AUM. As you can see from these numbers, the gold bazaar is actually massive, and there is allowance for actually tens of businesses to succeed. In this market, antagonism amid all these businesses is a acceptable affair as it keeps anybody focused on confined barter well.
When allegory which business to abutment from the abounding in the industry, you should ask three questions:
1. Does the artefact attending user-friendly? i.e., will barter use it calmly and appetite to use it a lot. You may download our audience app and instructions to use it on the token auction website.
2. Why will barter assurance this business? Assurance is analytical area money is involved, abnormally with abiding savings. That is why we accept our accomplice strategy, alive with brands that our ambition bazaar already knows and trust, e.g., Aeon who are beyond all our ambition markets. We are additionally alive to accompany added ally on board, including a adaptable abettor with about 300m barter in Asia. Our aggressive accomplice is BullionStar International, a accustomed article in the industry that is audited by Bureau Veritas and insured by XL Group.
3. How will the business access customers, and at what cost? Not alone do the brands we accomplice with accompany trust, but they additionally accompany a ample cardinal of barter (Aeon has about 4 actor in Malaysia and 100 actor beyond Asia) and accordingly the amount of accretion is low.
Finally, HelloGold is focused on acknowledging the unbanked and the underserved. We accept that this huge articulation can be profitably served that has little best in banking articles and providers. We accept not begin this focus in added asset-backed cryptocurrencies.
Q: We apperceive the advantages of blockchain technology and crypto assets already. However, in the ambience of HelloGold what are the altered applications of the platform, afar from actuality calmly communicable and tradable?
A: HelloGold will about accept two articles for two altered markets. With the amount adaptable app product, a accumulation bazaar user in Asia with no acknowledgment to cryptocurrencies and bound acclaim history will be able to save in gold with baby amounts (around $0.25), administer for collateralized gold-backed loans, and alteration gold calmly beyond borders.
With the GBT, cryptocurrency investors are provided with the advantage to barrier their funds into a absolutely asset-backed stablecoin back markets become too volatile. There will consistently be a bright almanac of the gold assets abetment the GBT. The broker may additionally redeem their GBT into concrete gold if they become a registered user of the HelloGold adaptable app.
Q: How are the tokens acclimated on the belvedere and what’s the minimum amount for which one can acquirement them?
A: At the outset, there are alone two tokens complex in the HelloGold Token Sale. The HelloGold Token (HGT) provides its holder with a abeyant beck of rewards in the anatomy of GBT at the acumen of the HelloGold Foundation. These rewards are based on a account award the Foundation will accept from HelloGold agnate to 10% of the HelloGold administration fee. The minimum amount to acquirement HGT afterwards the Token Sale will be at its everyman denomination, which is at the 8th decimal value.
Because GBT is absolutely backed by 99.99% investment-grade gold, it can be acclimated as a stablecoin whose amount will clue the amount of gold and not alter back the cryptocurrency bazaar becomes too volatile. Initially, it will alone be provided as a accolade to HGT holders. In the future, it can be purchased at its everyman denomination, which is at the 18th decimal value.
Beyond these two tokens, HelloGold aims to advance tokenized versions of added asset classes as these are alien into our adaptable platform, i.e., silver, platinum, bolt et al
Q: Are there any partnerships in the authoritative or, accept you abutting armament with anyone which you would like to allotment with our readers?
A: HelloGold’s barrage accomplice for the business is Aeon, who accept about 4 actor barter in Malaysia and 100 actor barter beyond Asia. We are additionally in discussions to accomplice with a adaptable abettor that has about 300m customers.
We accept additionally benefited from actuality allotment of The FinLab Accelerator Program, which is a collective adventure amid United Overseas Bank, one of better banks in ASEAN and SGInnovate, an advance arm of the Singaporean government.
Prior to the barrage of the Token Sale, HelloGold appear an advance by Fenbushi Capital, the aboriginal Chinese adventure basic close that alone invests in Blockchain-enabled companies and counts Vitalik Buterin as one of its three accepted partners. Bo Shen, a Fenbushi Basic accepted partner, is an adviser to the HelloGold Foundation.
Q: What does the aggregation accept planned for the future?
A: HelloGold targets to accept 500,000 users over the abutting bristles years in key Asian markets such as China, Malaysia, Indonesia, Thailand and the Philippines. We are additionally attractive to aggrandize the tokenization of assets on a blockchain to added articles such as argent and added absolute assets in the future. With this amplification of assets, HelloGold will add these new assets to the award plan for the Foundation.
Q: Any arresting associates on the aggregation that you would like to acknowledgment about?
A: Robin, the CEO, is the above CFO of the World Gold Council and brings a abundance of ability and contacts about the gold market. He was the arch accounting administrator for SPDR Gold Trust (‘GLD’), the world’s better gold fund, which captivated over US$30 billion in assets beneath management. His WGC acquaintance includes acknowledging the barrage of the world’s aboriginal exchange-traded, broad kilo gold arrangement and introducing a gold accumulation affairs with ICBC which generated anniversary sales of $6.5 billion.
Wykeen, CTO, Wykeen was ahead VP at Bangkok Bank in Thailand area he led the bank’s action affiliation action in assorted turnkey projects including E-Enabled Loan Origination, Mobile Banking, B2B Gateway, International Remittance, FX Trading and Credit Related Systems over a aeon of 8 years. Prior to Bangkok Bank, he was a software architect at Digital Applications International Limited. He has a Ph.D. in Computer Science from the University of Manchester area he completed his Master of Philosophy (MPhil) in Computer Science and accustomed a 1st chic in Bachelors of Science.
Dave, the advance developer, is an able in blockchain technology and has formed on a cardinal of accompaniment of the art blockchain codebases, specializing in Ethereum acute contracts. He has acclimated assorted languages professionally, including C, C , C#, Pascal, Modula-2, PHP, Go, Java, SQL, Basic, Assembly Language (Various), Microcode and PowerBuilder. Dave has BSc in Engineering (Electronics) from University of London and MSc in Management of Technology from National University of Singapore. He has been an alive affiliate in the space, accidental to the Ethereum-Go codebase, creating the acute affairs for projects such as Indorse, DDF, and JetCoin, and analogous anti-phishing efforts with others including MyEtherWallet and Etherscan.
A abounding account of all aggregation members, as able-bodied as advisors, can be begin here.
Q: Tell us added about the crowdsale
A: The HelloGold Token Sale is structured based on best practices we begin in the Token Sale space. It has been disconnected into three Rounds, with the aboriginal Round currently ongoing. Supporters will be able to appraise the achievement of HelloGold afore allotment to accommodate any added abutment in Rounds 2 or 3.
A alive artefact is already out in the market, for which Malaysians may download from their App/Play Store admitting others may download a audience app from the badge auction website.
A allotment action has been put in abode to anticipate banking fraud, money laundering, and agitator financing. Only accustomed accounts will be able to see the Token Sale abode to accelerate ETH to. In this way, the accident of supporters falling for scams is bargain as the HelloGold Foundation has fabricated it bright that it will never allotment the abode with any added method.
To participate, complete your allotment at kyc.hellogold.org. A walkthrough for how to complete the action is provided here. The minimum bulk for accord in the Token Sale is 0.001 ETH. The Token Sale will end on 5th October 2017.
Q: Anything you would like to add?
A: You may acquisition out added advice about the Token Auction (including three abundant whitepapers) on the token auction website.
Updates on HelloGold is consistently provided on Medium.
You may additionally altercate with the aggregation anon on our Slack channel.
HelloGold had ahead partnered with ICOage to conduct a pre-sale of HGT to supporters from China. Due to a contempo advertisement by the Public Bank of China, ICOage absitively it would acquittance all the funds it received. HelloGold accurate ICOage’s accomplishments and provided a abounding acquittance to ICOage. More detail on the accountable can be begin at https://www.hellogold.org/announcement.html.
Robin Lee and the aggregation offered us an acumen into the activity and its background. With its badge auction alive now, the belvedere is on its way to accomplish the account by creating added banking opportunities for the accepted population, and maybe alike careful them from the abandoned bazaar armament that could endanger their livelihood. As the aggregation continues to grow, we will absolutely accumulate an eye on the new developments and accompany any agitative news, as anon as it unfolds.
