Eldorado is a Cryptocurrency Backed by
There's a brand-new cryptocurrency coming to the market. What makes it exclusive to existing cryptocurrencies like Bitcoin, Ethereum etc...? It's backed by gold (Redeemable in Gold on Demand). Devalin Inc., the Canadian based research and business development company since 2004, will launch the coin on December 1st, 2016. Gold is certainly the most reliable store of value of all time, which is why Devalin Inc. chose it to back his new cryptocurrency. The coin will be valued at 1 ELDO = 1 oz of 999.9 fine gold, and will serve as a more secure store of value than Bitcoin.
What was Gold Standard?
Currency notes originated as receipts for gold, which is why they were based on gold in the first place. You hand in your gold, you get a receipt, which you can then use to trade instead of
carrying your gold around. At any time, you can redeem your receipt for the gold, because it is a receipt, it is NOT MONEY.
Whoever decided to grant these receipts to be nonexchangeable for the gold they represent to the full amount is a crook. When currency became zero backed by gold the heist was completed. A
piece of paper in exchange for gold wasn't the agreement. The agreement was to take a piece of paper as a receipt for the gold still owned by the bearer of the gold. Not allowing the bearer
to redeem his gold, means the bearer has been robbed, and given paper while the bank keeps the gold.
What is Eldorado Gold Standard?
Eldorado is a decentralized digital currency backed by gold. which you can use to trade for products and services, and at any time, redeem your Eldorados (minimum 1 ELDO) for the gold.
So for each coin (ELDO) in circulation, 1 oz of 999.9 fine gold bar will be secured in a vault at an undisclosed location. This is all done via Devalin Inc., the Canadian based research and
business development company since 2004 in partnership with Gold mines in Africa and Gold free zone companies in Dubai.