Oil Coin Crypto Use in Commercial and Consumer Transactions

OilCoin appears capable of widespread utility and adoption for use in cross-border commercial transactions in oil and oil-related assets. Prior to the creation of Oil Coin crypto, no currency has been denominated in barrels of oil. As a consequence, parties to a forward or future purchase and sale of oil assets outside of the same country (or currency zone) must record their transaction in a national fiat currency with one or both parties forced to bear or hedge the risk of cross-currency volatility as well as fluctuations in the price of oil.

oil-coin crypto-in-advertising

A cross-border, future market-price, forward purchase transaction settled in OilCoin cryptocurrency is one example where this risk may be avoided.

Oilcoin price

Since the price of one Oil Coin price of one barrel of oil, pricing a future purchase contract in OilCoin enables the purchaser of oil to purchase OilCoin on the date on which the contract take effect. Also pay those Oil Coin crypto at a future date in exchange for a fixed quantity of oil.

In the absence of OilCoin, the purchaser would force it to hedge or bear the risk of changes in both crosses. Yes, currency rates and the price of oil. Similarly, to the extent that changes in oil price quoted in a national fiat currency are expecting to track changes in that national fiat currency relative to other fiat currencies, pricing transactions in OilCoin will be an effective means to avoid currency risk in ordinary commercial transactions even for goods and services unrelated to oil.

oilcoin-price

Oilcoin in consumer transactions

At present, ordinary consumer transactions in digital currencies have had a significant appeal but limited adoption. This is due to a variety of factors, the most significant of which is the absence of a practical and ubiquitous solution which enables a consumer to pay for goods and services in digital currency and allow a vendor to receive immediate and guaranteed payment for a fixed amount of local fiat currency.

OilCoin has developed a partial but workable and highly effective solution to this problem through the use of branded debit cards supported by OilCoin’s valuable oil reserve assets. Under the OilCoin debit card program, a holder of OilCoin may reserve a portion of their OilCoin to support their crypto card issuance and use. From the vantage point of an OilCoin debit cardholder, their holdings of OilCoin will reduce as they make purchases. From the vantage point of the vendor, they receive immediate payment in full in local currency without making any modification to their ordinary business practices.

OilCoin cryptocurrency

OilCoin cryptocurrency is the world’s first U.S. based, regulatory compliant digital currency supported by verified oil reserve assets. OilCoin enables individuals and organizations to utilize a transparent peer-to-peer exchanged digital currency with intrinsic value based on oil. So oil -the most liquid and actively traded commodity and critical energy resource for the global economy.

oil-tanks

Each OilCoin cryptocurrency represents the value of one reserve barrel of crude oil. It will support by an undivided interest in a bundle of oil assets. It includes physical oil, oil futures and interests in oil-producing properties with an aggregate value approximating the aggregate value of all OilCoin in circulation.

Oilcoin – establishment causes

OilCoin structured with a view towards becoming the world’s leading safe-haven tokenized store of value. By linking each OilCoin token to existing and verified real-world assets, OilCoin enables holders of digital and fiat currencies seeking to preserve wealth, lock in the gain and/or avoid a loss to acquire, hold and transfer intrinsic value in digital token form.

In order to meet increased demand over time, the number of OilCoin in circulation and their supporting oil reserves are able to expand in tandem to maintain an approximate equilibrium between the USD price of a single OilCoin and single barrel of oil on global markets without diluting the interests of existing OilCoin holders. The embodiment of OilCoin’s store of value in a transferable digital token will enable holders to preserve wealth and engage in commercial and consumer transactions. Need to mention while avoiding volatility, inflation and devaluations associated with other digital or national fiat currencies.

Oil coin founder

OilCoin is founded and coordinated by a fully transparent, experienced and highly reputable team. It will manage the operations and development of OilCoin and act to ensure compliance with applicable laws of the U.S. and other jurisdictions. The OilCoin team includes Hon. Bart Chilton, long-time commissioner of the U.S. Commodity Futures Trading Commission, as well as other professionals with significant responsibilities in the fields of global financial regulation, compliance and management.

Oil coin cryptocurrency with Ethereum

OilCoin will drive by Ethereum-enabled blockchain technology in order to provide a robust and decentralized method of verification, tracking and exchange. The Ethereum blockchain is expected to provide an auditable and cryptographically secured global ledger and will facilitate transactions with other familiar currencies and assets.

In addition to the Ethereum blockchain, OilCoin will utilize audit methods to ensure that issued tokens supported by sufficient oil reserve assets at all times. Also, OilCoin will provide incentives to purchasers and sellers through customary sharing of transaction fees in the form of issuances of additional OilCoin.

oil-coin-cryptocurrency

Oilcoin cryptocurrency advantages

At its core, OilCoin represents the peer-to-peer transferability of digitized commodity value. Also, OilCoin’s unique structure, verified intrinsic value and stable price provide meaningful economic benefits to its holders, purchasers and sellers.

  • (i) OilCoin will be a reliable store of value, medium of exchange and unit of account.
  • (ii) OilCoin will enable holders of other digital or national currencies to lock in gains and/or protect against ruinous declines in value due to inflation, volatility or currency devaluation.
  • (iii) OilCoin became an effective and tax-advantaged economic proxy for investments in oil. And to the extent of their positive correlation with oil, other commodities.

These characteristics, together with a continuous focus on transparency and regulatory compliance, position OilCoin to become the leading safe-haven digital reserve currency capable of appealing to global investors and consumers regardless of size, sophistication or capital base.