FOR IMMEDIATE RELEASE
We are announcing the launch of `White Dollar` — a free currency for the world. It is the currency for the people, by the people and of the people. The new startup will be launching in 2021.
The ‘White Dollar’ is a symbol of freedom, backed fully by Bitcoin/Gold resistant to monopoly, capitalism and hostile government regulations and dictatorship. The ‘White’ name symbolizes purity, neutrality and protection.
Bitcoin is only a stored asset, suffers a problem of adoption, cannot be used widely, due to its volatility, difficulty in understanding the subject, usage and high prices. As a result the world’s first cryptocurrency not widely used as a currency for payment transactions. Gold is a the ultimate safe haven asset. It is also impossible to use real gold due to its high price.
What if we mint these two asset classes into smallest units?
The White Dollar (WD) is fully tied to Bitcoin and pure Gold. Imagine Bitcoin and Gold is the central bank for the white dollar.
The White dollar is represented by ‘WD$’. It will combine the use of smallest units of pure gold and digital gold.
One unit of WD is approximately equals or minted with BTC and Gold. This is our formula.
1 WD$ = 0.0001 BTC (approx equals US$1.16) + 0.01g of Gold (approx $0.62 )
This trimming down of bitcoin and gold to smallest units of value makes it easy to use for payments worldwide, most affordable valued currency. You could buy coffee, groceries or spend in smallest units (even for less than $1)
The White dollar will take Bitcoin usage to whole new levels of usage, making it cheaper, faster and easier to understand. It will be one of a kind asset class of the 21st century Digital Age.
So basically when you buy a white dollar, you essentially also invest in smallest units of real gold and digital gold. It also represents a great asset class for investors making affordable for many classes of people. It will take digital revolution a notch up further.
The White dollar will be cheapest currency in the world. There will be ZERO transaction fee, no matter how big or small a transaction is. We are proposing $1 account fee (yearly) just like banks charge for accounts. All payments will be processed in a fraction of second (you dont have to wait for days like today’s traditional system)
All purchases and transactions are executed through the app (launched soon). We are looking beyond using bank cards, the app will replace usage of bank cards moving towards app payments. We propose, there will be W$1000 spending limit for each account, so that white dollars can only be spend on small purchases.
The White dollar will cease to exist if the Bitcoin perishes or force majeure (no electricity to operate digital devices)
Fiat is not the answer every time. Since ancient times, people have traded grains, seashells with their intrinsic value. Another example, you could trade a bottle of wine for chocolates with your neighbor without involving fiat at all.
For a new currency to succeed and to be used widely, people have to TRUST it. Without trust any currency would cease to exist.
A Global currency will change the world forever. It will only benefit people not powerful governments, shattering all barriers on cross border payments. Imagine, for a common man, irrespective of where you come using a single universal world currency, without having to worry about exchanging from one currency to another (there are 180 currencies in the world), inflation/hyperinflation (think of countries collapsing around one currency).
Are you not tired of losing money in your whole life in currency conversions, paying hefty international cross border payment transaction costs with banks and brokers?.
All existing regulations will be met with KYC/AML compliance checks. If necessary we also become a licensed digital Bank. All deposited will be backed by a BTC/Gold ETF fund with assets fully insured to safeguard people’s money.
The future of the White dollar will be decided by 7.6 billion people on earth.
We have given you basic idea and we have a long way to go with this innovative project. We still haven’t decided whether White dollar (WD) as a cryptocurrency or just a digital currency, most likely we would go with implementing a Paypal like system. Crypto interfaces and addresses are quite difficult to use and understand for common people. Instead a simple digital platform would help in increased usage and adoption.
A lot of brainstorming to be done, consulting with economists.
We are launching White dollar project a a new innovative startup towards the future https://whitedollar.org (coming soon)
We believe it will take another 10 years for the White dollar to get mainstream adoption and will continue to co-exist with other national and crypto currencies. It will not replace other major currencies.
Remember the White Dollar (WD) due to its intrinsic value as a currency and as an asset, can outperform all major world currencies.
Let us not forget that Bitcoin single handedly cannot reach mainstream adoption. Bitcoin is not backed by anything or physical asset, except chain of trust in the form of digital signatures.
As they famously say, a man is no man without a women. Think about Bitcoin paired with pure Gold.
Bitcoin adoption would be impossible, would merely be a store of value, without a digital currency like white dollar.
Visit our website whitedollar.org (coming soon) or
The White Dollar startup will be launched in 2021. Feel free to write to us at info