X8CURRENCY ADRESSES THE MATTERS OF SECURITY AND TRANSPARENCY

The intent behind X8C is not only to introduce a new level of stability to the crypto world and traditional finance, but to also provide maximum possible security.

 

  • X8C will be a 100% cash-backed token. It won’t be possible to issue a token without corresponding assets. Tokens redeemed for fiat will be burned by the X8C managing company X8 Capital AG.

 

  • The fiat cash assets will be held in the account in UBS bank in Switzerland. This bank ranks among the safest financial institutions globally. Additionally, because of this bank’s reputation and ranking, it is easier to insure all the holdings 100% at SwissRE, a globally top-ranking insurance company. Additional diversification for security reasons and better performance is planned as 20% of the holdings will be placed with 8 brokers of the highest rank. This will take place in the next few years.

 

  • The gold coin reserves backing X8C are also subject to maximum security. The reserves will be held in two Swiss facilities – Malca-Amit S.A. and GoldSwitzerland, where gold is insured by default.

 

  • Reporting of the daily level of the X8currency reserves will be performed by X8 Capital AG company, but not by it alone. An independent monitoring service and daily audit of the level of the X8currency fiat reserves will be performed and reported by JP Fund Services S.A. This institution will also provide an audit of the level of X8currency reserves at any time on contributors’ request for a fee of 100€. All their reports will be publicly available. Through provided interface the company will push data to blockchain to complete what X8C calls “blockchain-secured auditing«.

 

  • X8 Capital AG company will offer the buyback of X8C at 100% (to X8X utility token holders only) of its intrinsic value. Initially the exit from X8C will only be possible into fiat currency through the fiat window of X8C. The future development of the X8 business enterprise will enable also exit into ETH and other crypto currencies.

 

  • Unlike Tether, X8C is not backed by a single currency and therefore does not share the fate of any single currency or cash asset. It is backed by a basket of 8 major currencies (USD, EUR, JPY, AUD, GBP, CAD, CHF, NZD) and gold coins.

 

  • The main innovation and unique feature of X8C is that it is backed by an active basket. The capital in X8C is continuously and systematically allocated between the mentioned assets (8 fiat currencies and gold coins) by AI. The AI technology embedded in X8C targets a yearly yield of 1-3% inflation adjusted. Therefore X8C stands unrivalled among assets that aim at value preservation.

 

CONCLUSION

All the above mentioned features combined make X8C uniquely suited for a hedge against black swan scenarios. In the future cryptocurrencies will be added to its basket, so that contributors will be provided with a market-independent outcome. It is not clear which of the three power blocks (fiat, gold and crypto) will eventually prevail or how they will relate to each other. But this will not even matter to X8C holders, as they will always end up on the winning side.

 

David

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