Alternative money

This solution allows you to create any alternative money with the reference to different goods (gold, oil, energy, precious metals, etc). The exchange rate of your currency will totally depend on the value of the chosen product.

For example, you associate the value of your own virtual currency with gold. According to the APMEX statistic, the price of gold per ounce is $1,260.5 as of  March 14,  2016.

Gold Prices Today Price of Gold Per Ounce Gold Price Chart APMEX

In this case, the cost of your alternative money on March 14, 2016 is:

1 alternative currency = 0,01 ounce of gold = $12,6

If we go back and look at the value of gold in December 31, 2015, we can see that the price of gold per ounce was $1,063.7. Consequently your alternative currency cost $1,06 on December 31, 2015.

Gold Prices Today Price of Gold Per Ounce Gold Price Chart APMEX - 31.12.2015

If tomorrow 0,01 ounce of gold will cost $1.500, your virtual currency will also cost $1,5.

You have to consider that many factors influence the spot price of gold  and other precious assets. Gold prices change every few seconds and there is an unlimited number of components that play a role in the price of gold. Some of the reasons for the changes in gold prices include: current events, market speculation, currency values, supply and demand buying power.

Usually, this type of alternative money is issued and controlled by its developers (you) and used and accepted among the members of a specific virtual community (micro investment platform, social network, local communities etc.).

Administrative options:

  • Manage the issuing of virtual money: automatic issuing with no system engagement on the customer’s request or planned issuing done by the issuer (you);
  • Issue several currencies within one project with different cross rates;
  • Set the exchange rates on your own in the admin panel;
  • Correlate the value of your virtual currency to other values: gold, oil, energy, precious metals, shares of the certain companies’ prices, etc.

Pricing

SDK.finance offers flexible pricing plans for companies of any size. We’ll be in touch quickly to get you started with a package that makes sense for your business.

Contact us to get pricing information.