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.
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.
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.