Gold Bits Coin (GBC) is a partially (15%) gold backed peer-to-peer currency that is used for settlement of value and allows assets to move digitally without the need for a financial institution. By creating a token that has real gold backing we have created a currency that has the best of both worlds - gold's old-fashioned stability, and blockchain's technological capabilities.
Gold Bits Coin also has several other utility functions built into the token. For example, there will be a list of projects inside the GBC platform that token holders can vote to allocate GBC funds towards. These projects will be high quality investment opportunities that have been verified by the management team. Once a project receives a certain percentage of votes from the community the project receives investment from GBC. More on this can be found in the voting section of this Whitepaper. To help manage these investments the Gold Bits Coin team has strong experience in fund management and financial planning. They have worked at companies such as Macquarie, AMP, ANZ and Westpac.