Last week ushered in a shiny new golden beginning for digital money users. C-gold, a Malaysian start up digital gold currency, quietly entered the marketplace and now just a few days old it is rapidly gaining acceptance. C-gold, operates very similar to e-gold and even has that deja vu look and feel of the e-gold web site. However, in the past few days, there has been much discussion on chat lists revolving around whether this new business is just a clone or much more.
After a brief investigation, I believe that www.c-gold.com is one of a kind and I predict big success for this venture.
C-gold is a new ‘digital’ gold currency platform which not only operates online, but also will soon work offline through brick and mortar global locations. The management is forecasting that soon it will launch additional shop fronts, mobile wallets and integration for handheld devices.
Some other successful companies management is associated with include: CyberFrontier Corporation, CyFroCA$H Incorporated, Cyberica.NET Limited (www.cyberica.net, www.u2planet.com),CyberGoldBank.NET and is also responsible for the Private Gold Equities Exchange Limited which is being developed as a privately operated alternative to public stock exchanges.
What I considered so unique to c-gold is their over-the-counter bailment’s and redemptions. This operation is handled at brick and mortar locations. Verified, account holders simply drop off a bar and pick up a bar when funding or redeeming their digital account. There is NO surcharge or extra fees for this operation. Bars are also shipped worldwide and the service is fast Nice! (shipping, handling, insurance charges will apply)
Of course, you can’t drop off a 1 gram bar, so I’m out of luck….the minimum bailment in or out is 1,000 grams (999 fine, marked and certified bars only) They predict that smaller denominations and bullion coins will be added as that part of the business grows. Today, which is about 4 days into their new operation, 5200 grams are already on deposit. You can see their daily holdings right down to the bar mark and number from the c-gold holdings page. c-gold is considered by some the next logical stage of ‘digital gold currencies’, by allowing each local user to bail in and redeem literally over the counter. From their FAQ’s page:
“Any user with an active and verified c-gold.com User Holdings Account can visit a shop of the Commerce Gold Network and add gold to his or her account by bailing in a gold bar (type conditions apply).”
Verified accounts require ID, utility bills and other personal information. Why? The c-gold operators understand that the ‘The Know Your Customer’ (KYC) rules/regulations/laws spanning multiple jurisdictions around the globe are very important in today’s digital economy in order to combat terrorist funding, money laundering, child pornography, copyright infringements and to help eliminate attempts to abuse the c-gold system.
The first retail location for this operation is now being prepared in Penang, Malaysia. Negotiations with interested and qualified parties are also underway including franchise shops, ’shoplets’ and strategic global locations.
Another ’stand out’ feature of c-gold will soon be their multi-lingual site options and customer support. In the weeks ahead, they are adding German, French, Russian, Spanish and even Mandarin, Japanese. Other languages can be added by request and/or demand possibilities now under consideration include Korean, Arabic and Farsi.
C-gold already offers a fine referral program. Earning a few coins while spreading the ‘word’ has always been an integral part of the digital currency world and c-gold is no exception.
Accepting c-gold from your web site is simple just add their Click-to-Pay code. Also if you are familiar with HTML you can easily add their point and click shopping cart interface. Easy stuff if you have just a bit of HTML experience.
Updates: As I understand it a keystroke pop up tool and a turing number are currently being added.
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