Cryptocurrencies as a digital currency was first launched by Satoshi Nakamoto an individual who does not want to be known. The first digital currency which was generated was bitcoin and his aim for generating bitcoin was to create an electronic payment method which can be used to pay transactions in our daily activities. Along the line this primary aim of creating bitcoin has changed as cryptopreneurs and crypto enthusiasts instead of using bitcoins to make transactions are rather holding bitcoin as an asset. What is an asset without a constant value or worth of which we can speak of?
One common feature of cryptocurrencies is that they volatile and that makes their prices fluctuate frequently with time. This nature of fluctuating prices rules out the fact of cryptocurrency being used as an asset and this has brought about so many criticisms about the use of cryptocurrencies or even legalizing it as an accepted mode of payment.
DRAWBACKS OF CRYPTOCURRENCIES AS INVESTMENT ASSETS
The recent trend of cryptocurrencies is by holding them so that it price goes up with time then some people can sell their tokens and gain huge profits out of it. The value of cryptocurrencies are determined by the market rates and not the holder and what this implies is that uses cannot actually determine the asset of tokens they are holding because what ever price they stipulate is like to change in the next time. This inability to determine the value of cryptocurrencies scares investors away and also does not make it attractive enough to investors to invest into cryptocurrencies.
Furthermore, cryptocurrencies are very volatile and hence their rate of generating income cannot be guaranteed always. Many people have come to embrace the concept of investing into cryptocurrencies because of the huge profits they might have heard they can gain from it. For instance, Ethereum was sold in early parts of April at about $350 USD and just in may it has increased to over $500 USD. Every trader or investor who hears about this sort of investment would definitely want to invest in it but the truth of the matter is that the trend of profit does not stand always.
There are times when prices of tokens are very down and therefore in order to gain profits as the investor perceived he/she would have to hold the token for a while or better still quite a long time before he/she can sell of the tokens for some profits.
In some cases which I have witnessed one myself, one can hold a token for a very long time and yet it does not seem to come. Any investor after investing into cryptocurrency and having gone through this ordeal would surely not invest into cryptocurrencies.
ASSET BACKED TOKENS A SOLUTION TO THE CRYPTOCOMMUNITY
Before then most cryptocurrencies do not have any constant value but rather they all fluctuate in between time and this has caused for the concerns of the world that so many criticisms are going to be changed once they get to know what VEIAG has to offer.
The issue of asset backed tokens has not been in the system for long and it is simply the situation where a real asset in the case of VEIAG gold is used to represent the value of some generated cryptocurrencies. This is done to check the volatility of the token in consideration and also to secure that investors who purchased the tokens have full assurance that whatever be the crypto market situation they would have an asset to cushion them. Investors who invest with VEIAG asset backed tokens would have their tokens secured by the backed asset which is gold.
In addition, since investors tokens would not be fluctuating now and then, investors can be assured of a passive general income of their primary investment in small bits. Meaning investors would be earning continuously in a moderate amount with respect to the amount of investment plan which the member chose to run on. Though the returns on investment may not be as huge as that of the unbacked token asset it is better in business to earn something daily than not to know what is really happening or when your next income generated from your investment is going to reflect in your bank account.
The blockchain technology is noted for its genuineness, transparency and security investors would receive reports on how things are being operated on the platform taking into consideration the income being generated, the funds used in supporting the gold bullion asset. Any information that goes on this platform would be recorded into the blockchain ledger system so that it is kept safe and secured for future reference and also it can be easily retrieved when the need be.
This is done to ensure that a relationship full of trust and confidence is built among the two parties.
The reason why VEIAG chose to use gold as the supporting asset against its cryptocurrency is because of the durability and stability of gold on the stocks exchange market. God if one of the stocks whose price is very stable and does not fluctuate by a very wide margin. This asset backed token which is going to be used on the platform is called gold bullion.
The letter "V" represents the virtual aspect of the organization. VEIAG ( https://veiag.com/ ) will be the first business to take advantage of blockchain technology within best business practices from the Sustainable Development objectives. This will give us a significant advantage with respect to innovation throughout the world.
The letter "E" represents the economic positioning of the organization. This includes production, distribution and consumption of goods and services. Success in a global market depends on internal growth along with a coherent business model. VEIAG ( https://veiag.com/ ) will provide this without abusing consumer rights.
The letter "I" represents socially responsible investment practices aimed at minimizing negative results. A commitment to transparency will ensure that all investments in VEIAG ( https://veiag.com/ ) are earmarked for profitable and viable projects. In addition, dividends will be paid in proportion to ownership interests, a key distinguishing factor for VEIAG ( https://veiag.com/ ).
The letter "A" represents the project Academy. The VEIAG Research Institute ( https://veiag.com/ ) will function as a laboratory of ideas for all ideas related to research and promotion, including business development, technology and economics, among others. The VEIAG ( https://veiag.com/ )
The Virtual Academy will offer a series of lectures pre-recorded and broadcast live from those given by professors and trained professionals.
The letter "G" represents the Guild, uniting all the members of the VEIAG community ( https://veiag.com/ ). Through the vast financial and academic resources available, a powerful virtual network will begin to form. Linked by the same ambition, the Gremio represents the common goal of all those who invested in VEIAG ( https://veiag.com/ ).
Without a doubt a promising idea, if you want to know more and you have been wanting to know more technical details of the project, we leave the link to your whitepaper so you can read and study.
Distribution Token
5.00% BOUNTY, AIRDOP (MARKETING)
TIM 10.00%
FOUNDER 10.00%
10.00% PRE-ICO SALES
25.00% FUTURE SALE (POST-ICO)
40.00% of ICO SALES
Allocation Of Funds
0.70% assessment of virtual professors and members filtration
1.30% marketing & public relation campaigns
1.70% launch of virtual academy
3.00% extended employee team and overhead
3.10% board of financial advisors and lawyers
4.20% assessment of upcoming network of sustainable business projects
4.70% reserve funds
7.00% purchase of land and construction of research institute
10.30% purchase of land and construction of headquarters
25.00% bullion(gold) backing of v.e.i.a.g. token
39.00% first implementation of business projects
Project RoadMap
Distribution Token
5.00% BOUNTY, AIRDOP (MARKETING)
TIM 10.00%
FOUNDER 10.00%
10.00% PRE-ICO SALES
25.00% FUTURE SALE (POST-ICO)
40.00% of ICO SALES
Allocation Of Funds
0.70% assessment of virtual professors and members filtration
1.30% marketing & public relation campaigns
1.70% launch of virtual academy
3.00% extended employee team and overhead
3.10% board of financial advisors and lawyers
4.20% assessment of upcoming network of sustainable business projects
4.70% reserve funds
7.00% purchase of land and construction of research institute
10.30% purchase of land and construction of headquarters
25.00% bullion(gold) backing of v.e.i.a.g. token
39.00% first implementation of business projects
Project RoadMap
MORE INFORMATION
Website: https://veiag.com/
Whitepaper: https://veiag.com/?media_dl=6340
Telegram: http://t.me/VEIAG_token
Facebook: https://www.facebook.com/VEIAG/
Twitter: https://twitter.com/VEIAG_token
Bounty thread: https://bitcointalk.org/index.php?topic=4422892.0
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