The world of financial currencies is likely to take a big step forward, and the Principality of Monaco seemed the perfect place to test innovations at the moment.
With this in mind, GSB Gold Standard Banking Corporation AG (GSB), a leading German software, IT and blockchain group, has chosen the Monte Carlo Conference Centre in Monaco to launch an unprecedented technology that will make transactions of crypto currencies much easier and above all much faster.
During a glamorous opening ceremony, in the presence of a large crowd of international press and news agencies, Josip Heit, Chairman of the Board of Directors of GSB and his team of international software and hardware developers presented a unique electronic money system in the iconic golden hall of art (Salle des Arts) "G999", Card device and app in one, inspired by the deflationary token economic model, which allows fast payments, micro-fees and a variety of other options, including a communication network that guarantees customers absolute privacy, which will be impossible to decipher with today's technology. Enjoy the great future of the digital age," announced GSB's CEO, introducing Alexandru Cocindau, Chief Technical Officer (CTO, Technical Director) of the GSB Group, who chairs the internal Group Development Group.
G999 is based on the idea that block chain technology must ensure compliance with environmental regulations, in particular the promotion of energy saving. At the same time, it meets the current need to manage personal data in a completely secure and risk-free space, away from the mainstream web network through a decentralised data centre.
G999 enables tokens (Tokens are basic building blocks for operations with cryptographic values: Only those who have a valid token are allowed to execute a transaction on the associated block chain) to store, trade and use tokens almost simultaneously in a wide ecosystem without being dependent on intermediaries such as banks or payment processors. In addition, for the first time it offers wallet communication, a spam hacker-free e-mail service and a voice & chat system that is fully integrated into the platform. The way this system works is likely to make it impossible for decades to eavesdrop on or intercept, among other communication channels, making this system more than just system relevant.
Our block chain ecosystem is open-source and based on computer technology, which allows anyone to develop their new or established business according to a proof of stack model (Proof of Stake is a process by which a block chain network reaches a consensus on which participant may generate the next block)," emphasised the CEO of the GSB Group of companies based in the Port of Hamburg.
A targeted academy has also been created to regularly support each user in all steps with texts and technical videos in order to facilitate the use of this new tool in a simple and secure way. "We truly believe that only a well-informed community is able to benefit from the entire ecosystem", Alexandru Cocindau underlined. Thus, G999 has a multitasking character and allows information tokens and additional spy-proof services without the risk of external manipulation.
"Blockchain is not just a bit coin, it is something great that can be used for different purposes in almost all industries", emphasised Josip Heit during the international press conference. "In my opinion, it is one of the best technical creations of modern times," he added. "As far as the cost of the Blockchain platform is concerned, it is dynamically calculated according to the amount of information you send through the platform; our goal is to make this technology fully accessible to everyone worldwide," emphasised CTO Cocindau.
G999 will indeed interact continuously with users and inform them of the actual balance according to its use in transparency. "To prevent spamming, we have introduced a charging system that makes every malicious message so expensive that it hinders its distribution," added Cocindau.
Questions during the press conference, such as Do you see the current economic crisis due to the pandemic as an opportunity or as an obstacle to the promotion of G999, answered Josip Heit, CEO of the Group, which has partners in 120 countries around the world, by saying: "I don't want financial advice, but I trust in digitisation and any existing infrastructure that comes with it. In this respect, there are many improvements that we can make to speed up the processes in the global economy and make them more user-friendly".
For those who want to know what G999 means, the "G" is derived from the initial 'gold', as GSB Gold Standard Banking Corporation AG is based on the gold market with the aim of transporting this precious metal around the world in a way that is easier for traders and users. During the two years of development, a completely new communication system was designed, focusing on security and efficiency, G999 is the result - like 999 percent pure gold.
The youngest member of the group, GSB Gold Standard Bank Limited, with an A-Bank licence, banking licence number: B2020020, IBC Register: HY0050034, Mohéli, (in banking terms, a banking licence is the official licence to operate a credit institution), will be responsible from 15th October 2020 for the consulting, support and listing of the various exchange platforms, including the all-round theme of G999 block chain, staking and telecommunications. GSB Gold Standard Bank Limited concentrates within the group of companies on operating independently of the fiat currencies (fiat currencies are object (Euro, Dollar, Yen, Ruble, British Pound, Swiss Franc and all others, without any intrinsic value, which serve as medium of exchange, the opposite of fiat money is commodity money, such as gold), here responsible for the block chain exchange platforms. It should be mentioned that G999 will be available on the open market from 15 October 2020.
In summary, G999 opens the door to a perhaps not so distant future, in which there will no longer be any circulating currencies as we know them today, and which will be replaced by a global virtual currency system.
Not only in the Principality of Monaco as an internationally known financial hotspot, the journalists present were certain that G999 will play a primary role in the development of innovative cash solutions in the future. Further information on G999 can be found here: https://G999main.net