Developers Forum for XinFin XDC Network

Cover image for ComTech Gold $CGO will be the best option for paying salaries in GOLD.
Vinn V
Vinn V

Posted on

ComTech Gold $CGO will be the best option for paying salaries in GOLD.

According to a report in the local business publication City A.M., a London-based CEO would now pay his employees in gold to assist them in keeping ahead of inflation.

Gold is a "time-tested inflation hedge," according to Cameron Parry, CEO of financial services firm TallyMoney.

"At times like these, when traditional money's purchasing value is gradually losing, gold offers people the best opportunity of staying ahead of inflation," he added.

According to Parry, the pound's purchasing power is dropping at an "alarming rate," while the price of gold has been gradually rising this year.

"With the cost of living rising, it didn't make sense to continue granting wage raises in pounds when the currency's worth is eroding with each passing day." he told City A.M. “It was like putting a band-aid over an open wound.”

For the time being, Parry's TallyMoney, which employs over 20 people, pays top employees only in gold. However, the corporation intends to implement the new pay structure across the board. According to the publication, Parry receives his salary in gold.

"When gold is exchanged for goods and services valued in pounds and pence, it goes a lot further," Parry added.

So if we are discussing the "Gold offers people the best opportunity of staying ahead of inflation," then ComTech Gold $CGO will be the best option for paying salaries in GOLD. ComTechGold is Blockchain-based wallet Technology that will be follows 100% Shariah guidelines making it the first token of its kind. One CGO is equal to one gram of pure gold. Redeemable, fully backed and regulated.

The underlying gold that backs the e-Gold unit will be stored with a secured Vault operator like Transgaurd or Brinks in the UAE. These Gold Tokens will be available for trading on a Global Regulated Exchange on a BlockChain and a Traditional exchange Platform.

ComTech provides a level of reserve transparency that is unrivaled, giving the community the assurance that their digital assets are completely backed by physical gold.

Custodian located in the UAE conducts quarterly audits and an onboarded business is subject to on-demand verification. Subject to Service fees applicable and appointments are necessary in advance.

ComTech Gold is based on XinFin(XDC) Hybrid Blockchain Network, the world's first hybrid blockchain. XDC Network's mission is to help organizations improve their business infrastructure, reduce costs, and increase visibility. With interoperable smart contracts, near-zero price transactions, and strong security, the XDC Network is designed to support a wide range of unique blockchain use cases.

Let's see the Supported Wallets & Exchanges:
Wallets:

  1. D'CENT Wallet (iOS Wallet | Android Wallet)
  2. Guarda Wallet (Web Wallet | Desktop Wallet)
  3. Ellipal Wallet (Hardware Wallet | Mobile Wallet)
  4. Trezor Wallet (Hardware Wallet)
  5. Infinity Wallet (Web Wallet)
  6. Opolo Wallet (Desktop Wallet | Android Wallet | Hardware Wallet)
  7. ONTO Wallet (Android Wallet | iOS Wallet | Chrome Extension)

Exchange:
Bitrue

Moving tokenized XRC20-based gold from one exchange to another is extremely cheap compared to other ERC20-based gold tokens.

Leave a comment with your opinions.

Discussion (0)