PUREGOLD - FIRST PAYMENT GATEWEY

Puregold Token Swap

With the strong business positioning and extensive expertise in the Gold domain, the Puregold Token Swap team envisions to be the First Payment Gateway using PGG, a cryptocurrency supported by Gold. This platform will be fully supported with all the critical components

PG Stored Value Cards – to be issued to consumers with PG account that can store both PGG and PGT.
PG Payment Terminals – to facilitate merchants to accept payment by PG cards
PG Gold Dispenser Machines (DM) – to be installed at various locations to provide 24 by 7 convenient access by account holders
PGPay Payment Gateway – the complete suite of backend system and frontend app to support online and mobile transactions

Puregold offers two digital tokens, PGT and PGG, running on two separate ledgers. PGG works through a digitized ledger on the blockchain whose cryptocurrency value is based on physical gold.

Puregold with Ethereum

Puregold is using Ethereum platform as it is currently the most widely accepted platform which offers all the benefits of a blockchain (full traceability, nonrepudiability etc.) and multiple source language implementations that encourage integration. Ethereum will handle only the parts needing consensus, transparency and accountability. Other services will continue to be provided using existing technology.

Puregold needs a transactional blockchain with a powerful system of smart contracts which have the ability to ensure that a transaction can combine with the results of previous transactions to provide auditable consistent results. To date, Ethereum is the only stable system that has achieved widespread adoption. The decades of experience of The Puregold senior development team tell us to avoid anything experimental to run a live system.

PGG: APPLICATIONS

The following sections provide some applications of how one can use PGG. This is not an exhaustive list as the general use of cryptocurrencies may expand over time. In some cases, individual may wish to use the blockchain to protect or record transactions, while at other times they may connect to Puregold’s API.

Saving Storage

PGG can be stored long-term in a special and secure storage with options of either converting the gold to fiat or to some form of cryptocurrency, such as BTC, ETH, Dash, etc. PGG uses the current price of gold set on the LBMA Gold Price, so its market value will adjust accordingly

Puregold E-Commerce Solutions

There are two equally important sides of the infrastructure required to ensure the rapid adoption of Gold economics. The ability to make payments and the ability to receive payments.

The Puregold mobile commerce App will process the payments which in turn will utilise the vast resources of the world’s biggest payment providers by using digital contactless payment technology through supporting POS terminals to receive payments.

Nevertheless, there are still millions of businesses that for a wide variety of reasons are unable or unwilling to connect to this payment network. For example, you will not find many street traders in Delhi that have a contactless visa terminal.

The Puregold team has been actively building alternative contactless payment solutions for business covering all areas of business life from key retail sectors such as restaurants and bars, to street traders and the internet stores.

The Puregold mobile commerce App for business will be a dedicated mobile solution for businesses that can be applied to all sectors. Functions include: