The White Dollar — World’s Free Digital Currency
We are launching White Dollar — a free currency for the world. It is the currency for the people, by the people and of the people.
The ‘White Dollar’ is a symbol of purity, freedom, resistant to monopoly, capitalism and hostile government regulations and dictatorship. The ‘White’ name symbolizes purity, neutrality and protection.
Bitcoin is only a cryptocurrency (not backed by any real assets) besides chain of trusted digital signatures in a blockchain, its value is simply based on supply and demand, suffers a problem of adoption, cannot be used widely, due to its volatility, difficulty in understanding the subject, usage and high prices. As a result the world’s first cryptocurrency not widely used as a currency for payment transactions.
Gold is a the ultimate safe haven asset. It is also impossible to use real gold due to its high price.
What if we mint these two asset classes into smallest units?
The White Dollar (WD) is fully tied to Bitcoin and pure Gold. Imagine Bitcoin and Gold is the central bank for the white dollar.
The White dollar is represented by ‘WD$’. It will combine the use of smallest units of pure gold and digital gold.
One unit of WD is approximately equals or minted with 50% BTC and 50% Gold of equal weights. This is our formula.
1 WD$ = 1 gram Bitcoin (0.001 BTC) + 1g of Gold (approx $62 ) in US dollars
We first define kilo and gram of Bitcoin as digital currency. One Kilo Bitcoin equals 1 BTC. One gram of Bitcoin is 0.001 BTC which is roughly equal to $13
One Gram of Gold is worth US$13.01 at todays rate. One Troy Ounce of Gold equals 31.103 grams
1 WD = 73.372 USD (approx at todays rate)
Follow the real time price updates at http://whitedollar.org
The Performance of White Dollar over the years.
So the white dollar is made up of 1 gram of Bitcoin (digital gold) and Physical gold. Its price will fluctuate depending on supply and demand of these assets
For example, if you hold 100 white dollars, then you would be physically holding 100g of gold and 100g of Bitcoin equivalent in US dollar.
The appreciation of white dollar measured with 1 gram of gold and 1 gram of bitcoin (digital currency)
Download historical data of Gold and Bitcoin prices (csv)
The assets would be safely held by us (like a bank) in cold storage.
This trimming down of bitcoin and gold to smallest units of value makes it easy to use for payments worldwide, most affordable valued currency. You could buy coffee, groceries or spend in smallest units (even for less than $1)
The White dollar will take Bitcoin usage to whole new levels of usage, making it cheaper, faster and easier to understand. It will be one of a kind asset class of the 21st century Digital Age.
So basically when you buy a white dollar, you essentially also invest in smallest units of real gold and digital gold. It also represents a great asset class for investors making affordable for many classes of people. It will take digital revolution a notch up further.
The White dollar will be cheapest currency in the world. There will be ZERO transaction fee, no matter how big or small a transaction is. We are proposing $1 account fee (yearly) just like banks charge for accounts. All payments will be processed in a fraction of second (you dont have to wait for days like today’s traditional system)
All purchases and transactions are executed through the app (launched soon). We are looking beyond using bank cards, the app will replace usage of bank cards moving towards app payments. We propose, there will be W$1,000 spending limit for each account, so that white dollars can only be spend on small purchases. This limit increased to WD$10,000 after one year.
The White dollar will cease to exist if the Bitcoin perishes or force majeure (no electricity to operate digital devices)
Fiat is not the answer every time. Since ancient times, people have traded grains, seashells with their intrinsic value. Another example, you could trade a bottle of wine for chocolates with your neighbor without involving fiat at all.
For a new currency to succeed and to be used widely, people have to TRUST it. Without trust any currency would cease to exist.
A Global currency will change the world forever. It will only benefit people not powerful governments, shattering all barriers on cross border payments. Imagine, for a common man, irrespective of where you come using a single universal world currency, without having to worry about exchanging from one currency to another (there are 180 currencies in the world), inflation/hyperinflation (think of countries collapsing around one currency).
Take a look on Bitcoin and Gold price over the past year
Take a look on correlation of Bitcoin and Gold, see how the two assets perform
Are you not tired of losing money in your whole life in currency conversions, paying hefty international cross border payment transaction costs with banks and brokers?.
All existing regulations will be met with KYC/AML compliance checks with regulators. If necessary we also become a licensed digital Bank. All deposited will be backed by a BTC/Gold ETF fund with assets fully insured to safeguard people’s money.
The future of the White dollar will be decided by 7.6 billion people on earth.
We have given you basic idea and we have a long way to go with this innovative project. We have decided whether White dollar (WD) as a digital currency (it will not be a crypto), most likely we would go with implementing a Paypal like system. We believe Crypto interfaces and addresses are quite difficult to use and understand for common people. Instead a simple digital platform would help in increased usage and adoption.
A lot of brainstorming to be done, consulting with economists.
We are launching White dollar project a a new innovative startup towards the future https://whitedollar.org (coming soon)
We believe it will take another 10 years for the White dollar to get mainstream adoption and will continue to co-exist with other national and crypto currencies. It will not replace other major currencies.
Remember the White Dollar (WD) due to its intrinsic value as a currency and as an asset, can outperform all major world currencies.
It is very important to understand that White Dollar (WD) is a volatile asset swinging both ways. You risk losing your money
Let us not forget that Bitcoin single handedly cannot reach mainstream adoption. Bitcoin is not backed by anything or physical asset, except chain of trust in the form of digital signatures.
As they famously say, a man is no man without a women. Think about Bitcoin co-existing with pure Gold (digital and physical gold).
Bitcoin adoption would be impossible, it would merely be a store of value, without a digital currency like white dollar. The increased adoption of Bitcoin will give a big boost for SEC approval for a Bitcoin ETF fund in the future.
The White Dollar will be free for anyone to take and promote this currency. There are no patents, trademarks, copyrights or any restrictions.
The White Dollar startup will be launched in 2021. Feel free to write to us at info@)whitedollar.org
