Lead by Harvard Graduate CEO Reinhard Berger, Pecunio's pre-ICO is off to a blazing start.
At the time of this writing, the Dubai-based cryptocurrency investment fund has raised almost $1.8m - only three days after their launch.
While other companies have tried to launch a cryptocurrency backed by physical gold, Pecunio is the first one to actually accomplish the task. With partners in Dubai, Pecunio's gold-backed token (PGC) is convertable to physical gold in 24 hours.
This hearkens back to the days before Richard Nixon abolished the Gold Standard. Until then, US dollars were also backed by physical gold. While this comes with its own set of problems, Pecunio's new coin seems to solve a major issue that plagues many cryptocurrencies: inherent value.
Whether or not they're correct, many critics of Bitcoin (and other coins as well) claim that it has no inherent value. With Pecunio's token backed by physical gold, they'll have to find another argument.
Of course, you could also say that gold has no inherent value either. It's just a soft, pliable metal that we dig out of the ground and turn it into jewelry. But it's been a store of value for thousands of years and probably isn't going anywhere.
Furthermore, you could even say that US dollars, Euros, etc also have no inherent value. They're just little pieces of paper that we exchange for goods and services.
But that's the world we live in. Thank goodness I don't have to trade a goat every time I want to eat some chicken.
Anyway, investors are apparently diving head first into Pecunio's pre-ICO. Whether this is because of the news of the gold-backed token, the fact that Pecunio will also feature a working crypto exchange, or because their blue chip crypto fund is already listed ICONOMI remains to be seen.
The ICO ends on Feb 21. With tokens going for $1 USD, the pre-ICO is currently offering a 25% bonus in addition to the amount invested.
Interested? Click here to get involved in Pecunio's ICO.
What do you guys think about Pecunio? Let me know in a comment below!
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