Why is LODE The “Future of Money”?
A secure, stable and dependable form of money (“sound money”) MUST be grounded on three fundamental principles:
“Money must act as a store of value, a unit of account, and a medium of exchange.”
A store of value is anything that retains purchasing power into the future.
A unit of account is a nominal monetary unit of measure used to represent the real value of any economic item; i.e., goods, services, assets, liabilities, income, expenses, Silver, and Gold.
A medium of exchange is the function of money as a widely accepted “token” or “coin,” which can be exchanged for goods and services in trade and commerce.
With LODE’s monetary system, Individuals can protect their wealth and purchasing power against inflation by holding Silver backed AGX and Gold backed AUX Digital Coins in their Private Digital Wallet. Each AGX Digital Coin is backed by a verifiable one (1) gram of reserved Silver Bullion. Each AUX Digital Coin is backed by a verifiable one (1) milligram of reserved Gold Bullion.
Unlike today’s paper currencies, LODE has been able to combine all three principles with the unique and historical qualities of Silver and Gold, coupled with today’s modern blockchain technology, to create a form of money that meets the current and future needs and demands of global trade and commerce.
Why Silver and Gold as Money?
For thousands of years, and up until just a few hundred years ago, Silver and Gold were widely used as money in day-to-day transactions. Unlike today’s paper money, Silver has always had its own intrinsic value. Silver has proven itself over the centuries to be a stable store of value, a trusted unit of account, and an affordable medium of exchange. Today, Silver now largely sits idle due to the shift towards the “convenience” of using paper money.
How is Silver and Gold “Tokenized”?
The term token is generally referring to a cryptographic string of numbers and letters that references particular data. For the LODE Project, the Silver and Gold are tokenized through the creation, transfer, and storage of cryptographic data that uses strings of numbers and letters to refer back to the values of the vaulted Silver and Gold bullion.
The AGX Digital Coin is a digital representation of one (1) gram weight and measure of the vaulted and verifiable investment-grade (99.9%) Silver bullion held in the LODE Reserves. AGX Digital Coins are a pickup slip for Silver, and can be redeemed by the bearer through participating precious metals dealers and the LODE Association.
The AUX Digital Coin is a digital representation of one (1) milligram weight and measure of the vaulted and verifiable investment-grade (99.9%) Gold bullion held in the LODE Reserves. AUX Digital Coins are a pickup slip for Gold, and can be redeemed by the bearer through participating precious metals dealers and the LODE Association.
AGX and AUX Digital coins are backed and redeemable for Silver or Gold Bullion through the LODE Association as described in the AGX and AUX terms and conditions.
What is a LODEpay Mobile Wallet?
A LODEpay Mobile Wallet is the app platform that facilitates the purchasing, storage, transferring and use of AGX and AUX Digital Coins to settle trade and commerce with Merchants that accept AGX and AUX Digital Coins as money.
AGX and AUX Digital Coin holders can send and receive AGX/AUX peer to peer (P2P) in seconds anywhere , anytime in the world when connected to the internet or to your cellular data.
AGX and AUX Digital Coin holders who are U.S. citizens, can currently activate a Virtual Debit Card to exchange their AGX and AUX Digital Coins for Fiat USD and pay for products and services with ONLINE Merchants that accept MASTERCARD and VISA.
The LODEpay Mobile Wallet also allows LODE Token holders to connect to the Hyperledger and see their LODE Token Balances.
You can download and install your LODEpay mobile wallet through this links
(Android , iOS)