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PROOF-OF-SOLVENCY10

The POD’s goal is to offer a virtual coin as an exchange medium in the platforms, with stable and trustworthy value. The currency will have its standard price defined by BRX LTD, having as reference the gram of gold.

The POD’s goal is to offer a virtual coin as an exchange medium in the platforms, with stable and trustworthy value. The currency will have its standard price defined by BRX LTD, having as reference the gram of gold.

The establishment of BR2EX value obeys BRX LTD’s own methodology, based on the increase ratio directly proportional to its guaranteeing funds, the latter consisting of gold reserves.

As an example, BR2EX can value 2 (two) grams of gold in 2019 and 3 (three) grams in 2020, according to the methodology established by BRX LTD.

Then the need to demonstrate the fund’s existence arises. That happens due to the possibility of checking the BR2EX issued and circulating quantities in the blockchain.

However, to verify the security funds underlying balance in order to prove solvency is required an exam by a trustworthy party.

For that reason, the quantity of assets in gold to ballast the cryptocurrencies emitted in a determined moment must be transparent, publicly accessible in the blockchain and it will have to be trustworthily confirmed by independent institutions, auditors and specialized consultants in the precious metals market.

The gold will be deposited in Switzerland, in a reliable institution, and it will be issued titles to the deposited gold, the latter belonging to BRX LTD. The auditing will make available, periodically, the quantity and the issued titles value, what will be made available in the web.

Lastly, BRX LTD will maintain BR2EX’s value indexed to the gold quotation in a way that all transactions are made public in the blockchain.

REFERÊNCIAS

10 Este white paper segue a mesma metodologia utilizada pelo stablecoin Gemini Dollar. Cf.: Gemini Trust Company, LLC. The Gemini Dollar: A Regulated Stable Value Coin (yellow paper). Disponível em: https://gemini.com/wp-content/themes/gemini/assets/img/dollar/gemini-dollar-whitepaper.pdf. Acesso em 5 mai 2019.

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