Quintric
Quintricâ„¢

Newsroom

Articles written here may contain commentary and opinions that are not necessarily those of Quintric.

Why Quint may be one of the last Cryptocurrencies

If one were to take a snapshot of the largest cryptocurrencies by marketcap each year what one would see is that the top ten significantly change from year to year with only a couple of notable exceptions. Part of the reason for this is because the value of each cryptocurrency is based off of perception/speculation as opposed to something more tangible. 

Crypto gurus would be quick to point out that any national fiat currency is essentially in the same boat though since they are also not 'backed' by anything other than good faith. The difference, it can be argued, is that while cryptocurrencies have a maximum cap the same is not true for central bank notes. While cryptos strive to be transparent and private the same can not be said for fiat central bank notes.

Quint changes the debate because it is a blockchain-based legal money that is also backed by precious metal. There have been a few other gold backed cryptocurrencies but unlike those ones Quint is not considered a security by the U.S. Government. Each Quint token represents 1/1000th of an ounce of U.S. minted American Gold Eagle coins. Since these coins are minted by the American Government they carry a special legal status that has already been tested and proven in Federal Court. Essentially the Gold coins are at least as just as legitimate as the Federal Reserve's Notes and arguably more so since they aren't created by a third party.

Quintric has tokenized the pre-existing American gold coinage. In addition to this service Quintric has permanently removed what was once the universal burden of vaulting expenses associated with having both gold and silver. This allows Quint holders to pre-pay vaulting forever. 

The United States Securities Exchange Commission has begun a crackdown on the cryptocurrency wild west that will likely only become more severe over time. People that would like to keep their value while avoiding potential 30% daily swings would be well served to purchase Quint in order to protect their value long-term in a way that no other gold option to date has been able to offer.

Since each token is backed by the same quantity of gold the entire Quintric system may be upgraded in the future if need be. Currently Quintric is built on the Bitshares platform which far outpaces the other open source blockchain technologies out there. If Quintric were to ever need to move users over to a blockchain that for whatever reason needed to perform more than 100,000 transaction a second then it would be possible. 

Unless it is purely for speculation, it is difficult to imagine that investors, especially Americans, will choose highly regulated crypto securities over the only blockchain based gold standard that is not a security moving forward. Time will tell.

NAMX