With the advent of smartphone-enabled payment portals and finance apps, the landscape of the payment market has been changed irreversibly. Experts suggest that this trend is here to stay, especially since blockchain technology has become increasingly prevalent.
Xaurum can be thought of as a representative cryptocurrency that is based upon a gold reserve model and is ever-increasing in its value. To be more specific, this alt-currency is designed to be a value storage entity that distributes profit obtained from created money (seigniorage), thereby allowing investors to earn steady revenue streams on the side.
Xaurum brings together a host of different financial entities to establish a stable ecosystem. Some of these key economic agents include:
- A commonwealth gold reserve
- Traders and buyers
- Money creators and destroyers
Moreover, an increase in the amount of commonwealth gold provides the basis of unity of interests for all economic agents within this platform. Since physical gold is used as the standard that determines the exchange value of Xaurum, the entire process is dictated by a centralized body – Auresco Institute – that oversees the creation and destruction of money. This independent body was created for the specific purpose of overseeing the money creation process, which sustains itself via the rebate it generates automatically.
Firstly, Xaurum proposes a shared system that allows for the even distribution of seigniorage between the principal money creator and the rest of the users. This not only helps democratize the way in which the entire setup runs but also establishes more consumer confidence.
Additionally, to promote increased system usability, the platform separates the consensus mechanisms of implementation from the value on the ledger, thereby allowing for the incorporation of newer technologies as they are developed. Not only that, but Xaurum uses the commonwealth concept in an effort to unify the interests of money creators and users.
The cost of this currency is determined by two primary factors:
- Quantity of gold reserves
- Market price
All other functions of the token are based upon its role as a value storage unit. Its value is a combination of intrinsic digital asset information and extrinsic value as a representation of a physical asset.