What is e-gold ?
e-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage.
e-gold is integrated into an account based payment system that empowers people to use gold as money. Specifically, the e-gold payment system enables people to Spend specified weights of gold to other e-gold accounts. Only the ownership changes - the gold in the treasury grade vault stays put.
world wide money
The world wide web needs world wide money. e-gold was created in response to this need.
e-gold is accounted by weight of metal, not US$ or any other national currency unit. Weight units have a precise, invariable, internationally recognized definition. Additionally, precious metals, gold in particular, enjoy a long history of monetary use around the world. Thus, e-gold is ideally suited for international transactions.
Although e-gold is accounted by weight, the e-gold payment system allows Spends to be expressed in terms of eight major national currencies (as of this writing). For example, it's possible to:
Spend 10 troy oz worth of e-gold
Spend 5.3 grams worth of e-gold
Spend US $100.00 worth of e-gold
Spend CHF 685.88 worth of e-gold
This means (for example) that a Canadian can pay a German or a Japanese can pay an Australian the correct weight of gold (e-gold) for a good or service as easily as if the price had been quoted in his own national currency.
benefits all users of money
The target market for e-gold is simply people who use money. How do you presently use money? Chances are any of these activities would benefit from the increased soundness, security, efficiency, and lower cost of e-gold. Here are some examples of how e-gold is presently used:
e-commerce
Business-to-business payments
Point of service sales
Person-to-person payments
Payroll
Bill payments
Charitable donations
Monetary base of the AUG* economy
*) AUG is an abbreviation for the currency unit (i.e. brand of money) "grams of gold, payable in e-gold".
Evolving Exchange Market
The e-gold system is designed to be absolutely free of any financial risk. There can be no debt or contingent liabilities associated with e-gold. For this reason, e-gold Ltd. does not possess any national currency of any nation and has no bank accounts. Thus, e-gold Ltd. is not able to offer currency exchange services.
No barriers to entry
It costs nothing to open an e-gold account. There is no credit check. There is no minimum balance requirement. There is no concept of a "merchant account" in that all e-gold accounts may Spend e-gold or receive e-gold payments.
In short, you are minutes away from opening your first e-gold account at:
www.e-gold.com