|Total Supply:||(50,000,000 PGG)|
Puregold was established in 2010 as an e-commerce store selling value-added gold and silver coins and bars. Puregold.sg is headquartered in Singapore.
PureGold is the First Payment Gateway using Gold-Backed Cryptocurrency, that makes it very reliable and secure. Puregold ICO of PGT is officialy conducted in two phases – Pre-ICO and ICO. The targetted maximum number of PGT that will be minted for Pre-ICO and ICO is set at 50,000,000 tokens. ICO started from January 15 and will be to March 14.
Puregold offers two digital tokens, PGT and PGG, running on two separate ledgers. PGG works through a digitized cryptoasset whose cryptocurrency value is based on physical gold. Puregold sets PGG at the current market price for physical gold set on the London Bullion Market Association (LBMA). The company uses physical gold (of 999.9 quality) as its security. Puregold’s gold reserves equal or exceed its circulated amounts of PGG.
Puregold is using Ethereum platform as it is currently the most widely accepted platform which offers all the benefits of a blockchain (full traceability, nonrepudiability etc.) and multiple source language implementations that encourage integration. Ethereum will handle only the parts needing consensus, transparency and accountability. Other services will continue to be provided using existing technology.
After the Token Swap launched the PGT was offered at 1 ETH = 700 PGT.