SINGAPORE, Nov. 1, 2018 /PRNewswire/ -- On October 31, 2018, when the whole blockchain industry was celebrating the 10th anniversary of the launch of the Bitcoin Whitepaper, global gold industry blockchain alliance Goldlinks announced the signing of strategic partnerships with BUMO, a leading international commercial public blockchain platform, and Bizkey, the blockchain-based Asian smart POS terminal and an offline payment system using digital currencies, expanding the company's business ecosystem. With the partnerships, Goldlinks has established a presence across the entire industry chain from the support for the underlying technology infrastructure to application scenarios and settlement channels when the digital currency is used to complete a transaction. The date of the announcement was chosen as a way to pay homage to Satoshi Nakamoto, the developer of Bitcoin.
Furthermore, Bizkey is launching 'Token Day' in Singapore from October 31st to November 18th. Token Day is a campaign to familiarize the public with cryptocurrency in a retail setting. During this period, 30 retailers clustered around Chinatown in Singapore will accept various cryptocurrencies as payment. Sebastian Seow, co-founder of Goldlinks, was invited to attend the launch ceremony of the event.
During the event, the two companies said that they plan to further deepen their cooperation and knowledge-sharing in various areas, including applications for digital currencies and offline payment. Bizkey will support gold-backed digital currency GGC (Global Gold Cash) issued by Goldlinks as a terminal payment tool in daily consumption scenarios. This also means that the gold-backed digital currency will use Bizkey as its settlement entry to fully open the C-terminal payment channel.
Bizkey is a mobile payment solution provider of digital currencies that furnishes users with offline retail payment solutions. It allows merchants to accept crypto currencies seamlessly with point-of-sale(POS) devices. The Token Days event is intended to encourage consumers purchasing and spending with crypto.
GGC, issued by Goldlinks, is a blockchain-based, gold-pegged digital currency. The third-party gold custody and third-party independent audit system guarantee full authenticity and security of its underlying asset. The stability and scarcity of gold determines its stable price. Compared to other digital currencies with violent fluctuations in prices, GGC, which is pegged to the stable price of gold, will be better accepted as a payment tool.
Prior, GGC was already being used by many multinational trade companies to finalize international trade settlements. Reuters earlier released a news article, in which it reported that a South Korea-based company had received GGC as a form of payment then exchanged the digital currency for a batch of gold bars from Brink's, the world's largest cash and precious goods management company. As a groundbreaking and more efficient international trade settlement tool, GGC has gradually played an increasingly significant role in the real economy.
In the future, GGC plans to collaborate with Bizkey and other strategic partners to apply GGC in a growing number of daily consumption scenarios, offering a more efficient, convenient and safe payment tool for consumers worldwide.