Auzzi Shopping

The Times Real Estate

.

Today's Features at Auzzi

Sitting Comfortably: The Benefits of Floor Cushions for Work and Relaxation

Sitting for long periods can quietly chip away at your comfort and focus. Most people spend hours each day hunched over a laptop or wedged into an ergonomic desk chair that doesn’t quite...

How to Use Headless CMS with JAMstack for Lightning-Fast Websites

Never has the demand for websites that are fast, high-performance, secure, and scalable been more crucial. Businesses need web solutions that open in the blink of an eye, perform well and ...

No More Sandy Mess: Must-Have Sand-Free Beach Towels

Sand sticking to everything is an inevitable annoyance that comes with spending a day at the beach, which promises relaxation, sun, and the calming sound of waves. Sand gets into every noo...

What to Expect During a Washing Machine Repair Service

Melbourne washing machine repairs make sure your machine runs well and do not interfere with your regular laundry schedule. Expert experts correctly identify problems and provide affordabl...

How to Choose the Best Plastering Services in Australia: A Homeowner’s Guide

Plastering is a fundamental component of any residence—whether constructing a new one, renovating an existing one, or repairing damaged ceilings and walls. Proper plastering can provide ...

Top Roof Safety Solutions for Melbourne's Industrial and Commercial Sectors

Melbourne’s industrial and commercial activities are considerably influential in the growth of its economy. However, with this kind of growth comes the need to protect the employees' liv...

Types of Pallets Available in Australia: Which One Is Right for Your Business?

(Source) Pallets make it easier for businesses to handle and store goods efficiently, thus making them an integral part of the supply chain. Be it a small-scale business or large-scale lo...

Knox Wire Announces the Launch of Trustless Gold-Backed Currency

  • Written by Auzzi Shopping

PRETORIA, SOUTH AFRICA - News Direct - 19 April 2023 - Knox Wire, the global payments and real-time financial messaging network, announces plans to launch its trustless gold backed currency, PMBC (Precious Metals Backed Currency).




The new product enables governments, corporations and financial institutions to hedge against the instability of the financial system while at the same time keeping funds extremely liquid. Holding the precious metals backed currency provides an entity with the security of physical metals while being able to instantly convert and send cross-border payments to over 20,000 institutions in nearly 200 countries.

This trustless system will provide users with a secure way to store and send wealth without relying on a potentially vulnerable banking system for storage, settlement or redemption. With this new launch, Knox Wire continues its mission of providing an alternative financial infrastructure to send real-time cross border payments.

The Launch of a Gold-Backed Currency with a Trustless Mechanism

Knox Wire's new gold-backed currency operates on a trustless mechanism, providing reliable value stability as the metals backing PMBC will not be held by the company, but regional, redemptive trusts located globally.

These trusts will be in centralized locations in North America, Europe and Asia. They ensure that no entity is solely reliant on Knox Wire, a potentially vulnerable financial system, or any single company, for redemption. This trustless mechanism can provide users with peace of mind that their assets are always backed one to one, and always accessible.

Setting a New Standard in Financial Security

The issue with traditional gold backed currencies is that gold can be prone to volatility on its own. The way PMBC will work to counteract this volatility is by backing each PMBC with one gram of gold, one gram of platinum and one gram of palladium. Reducing potential volatility by distributing any potential market risk between three of the strongest performing precious metals.

PMBC offers substantial benefits to traditional options, including; immediate liquidity, trustless redeemability, distributed backing, and the security of Knox Wire's immutable, distributed ledger. When combined with the services of Knox Wire, PMBC is a solution that sets a new standard for the usability of precious metals.


Hashtag: #KnoxWire

The issuer is solely responsible for the content of this announcement.

About Knox Wire

Knox Wire is a real-time gross settlement network that combines financial messaging and cross-border payments with local payouts to over 20,000 Financial Institutions (FIs) in nearly 200 countries.

More details about Knox Wire are available on the project's and on the social media pages listed below.

|