GoldPesa, a unique gold-backed income generating digital currency | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

GoldPesa, a unique gold-backed income generating digital currency

TDT | Manama

The Daily Tribune –

Gold Pesa (GPX), a one-of-a-kind asset-backed hybrid token was formed as a result of the emergence of cryptocurrencies and blockchain technology.

 Shamik Raja, Founder & CEO of GoldPesa, trust that this alternate form of money will be the currency of the future, due to its ease of transferability, strength to hedge against inflation, and ability to generate a yield using innovative financial engineering and quantitative science.

As one of the sponsors of the Royal Investment Summit, held on January 22-24 in the UAE, GoldPesa intends to connect with possible strategic partners and investors to help bring GPX to the world.

GoldPesa is headquartered in the UAE.

GoldPesa combines the advantages of physical ownership with the speed and mobility of a digital asset.

Token holders can own fractional shares of physical gold bars whilst profiting from the earnings generated by the PAWN, a proprietary intelligent trading algorithm, making GPX a hybrid gold-backed token with upside rather than a stable coin.

The digital coin differentiates itself from other gold-backed stablecoins “For GoldPesa to compete with the majors in the crypto space, I had to create a gold-backed token which is not pegged to gold and can trade at a premium.”

Raja added.

The capital markets have been influenced by the ongoing disruption, with the global pandemic, resulting in “a staggering amount of money being printed, along with negative interest rates in some countries.

He believes that cryptocurrencies and NFTs will evolve from speculative investments to tokens with real use cases driven by intrinsic value and earnings, “Blockchain technology will provide alternative investments with a trusted easy to use the platform to raise capital while simultaneously enabling investors to easily, buy, sell and transfer their alternative investment.”