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BTN Service to Launch on the ZETA Platform on September 1, 2019, Enabling Management and Transaction of Spot Gold Ownership

  • What's ZETA

  • 2019/06/24

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SPINDLE FRACTAL ZONE LTD. ( CEO : Masamitsu Hirai, London) has announced on June 24th that it will launch BTN service on the ZETA Platform on September 1, 2019, to enable the management and transaction of spot gold ownership.

<BTN service>
BTN is a service to record the ownership of gold that is stored in the issuer (BTJ-UK(UK)) on the blockchain and enable transactions between owners, allowing users to buy and sell gold. BTN will be listed in cryptocurrency exchanges in Europe and Asia in 2019Q4, and the number of tradable exchanges will be increased subsequently.

Spot gold is an extremely reliable asset class whose universal value has been historically proven, but transfer between owners was difficult due to complications regarding its appraisal and/or heavy weight, or difference in the business forms between transaction service providers. The BTN service will utilize the unique features of blockchain to overcome the disadvantages regarding the transfer of ownership.

Further, BTN can be exchanged for spot gold, and seven gold depositories in Vienna, Frankfurt and Singapore will send spot gold to BTN owners.

Countries Where Gold Depositories are Located
Austria, Germany, Hungary, Estonia, Switzerland, Canada, Singapore

One possible value transfer method using blockchain is cryptocurrency like BTC, but its price fluctuates greatly, and it has not become a popular solution of settlement or money transfer. On the other hand, BTN will be a pioneering service that makes practical and advantageous use of blockchain.

<New Benefits that BTN Will Bring>
New gold purchase method along with spot, futures and ETF
Gold is best known as a universally valuable investment destination around the world, but individual investors have no choice but to make over-the-counter transactions as there are practically no public exchanges open to them. Therefore, the price of gold is different between gold traders.

The appraisal process and quality maintenance, not only the price difference, also make it difficult to transact gold between multiple traders, which is a significant advantage for gold investors. In contrast, BTN will make seamless gold transactions possible with smart contract and blockchain technologies. ZETA in turn will ensure the greater flexibility for investors to select their investment choices by giving new access to this commodity class.

Transaction method supported by spot gold, more stable in value than major currencies
Gold is best known for its universal value and is the most stable investment destination in terms of price. It has potentially advantageous features as a payment method but is not used as such because its general transactions are not seamless. BTN will offer an excellent means of trade that makes the most of the stable quality of gold by utilizing its original wallet. Also, BLACK STAR is planning to increase the number of partners in Europe and Asia (including China) that will adopt this transaction solution from 2019Q3 on.

As an investment option for cryptocurrency as well as capital flight destination or riskless asset
Cryptocurrency is still regarded as a speculative investment destination because of its high volatility. However, BTN will be the first cryptocurrency to offer stable values that have not existed in the market by pegging to gold and leveraging the stability of gold prices.

Pegged Currency
There are currencies like USDT and DGIX that are pegged to what has a strong presence like USD or gold, but few of them have a definite connection between the pegged assets. BTN will clearly show the relationship between its pegged asset all time by making public the total amount of spot gold reserves for exchange.

The launch of the BTN service on the ZETA platform will offer gold as a safe asset to both investors and asset managers, and thus the SPINDLE project will create opportunities where cryptocurrency can be used as a practical means of settlement that is free of volatility. We are convinced that this will contribute to the SPINDLE project and help introduce all blockchain technologies and cryptocurrencies to society in general.