e-Bullion
From Wikipedia, the free encyclopedia
e-Bullion is a digital gold currency founded by Jim Fayed. The company was incorporated in December, 2000, and launched on July 4, 2001. Similar to competing systems such as e-gold, e-Bullion allows for the instant transfer of gold and silver between user accounts. e-Bullion is a registered legal corporate entity of Panama.
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[edit] Features
As with any digital gold currency, the main focus is keeping assets away from fiat currencies so as to avoid inflationary risks associated with such currencies.
- It has also moved its primary servers to Switzerland. The redundant servers and equipment are also outside of United States jurisdiction.
- Unlike e-gold, e-Bullion provides its own in-house currency exchange service. An e-Bullion account can be funded directly via wire transfer from a bank account.
- It is also the only digital gold currency (DGC) that allows direct funding to and redemption from an account with precious metals.
- e-Bullion was the first DGC to issue its own debit card linked to an account.
- e-Bullion was the first to use CRYPTOCard technology to physically protect user accounts.
- Goldfinger Bullion Reserve Corporation, a sister company of e-Bullion, hold the precious metals in bullion storage vaults located in either Los Angeles, Delaware, Zurich or Australia.
- Users can hold and transfer value in gold, silver, or US dollars which they designate as e-Currency. The amount of bullion or US dollars held in the e-Bullion system is undisclosed.
[edit] Criticism
Two of Goldfinger Bullion Reserve's vaults are located in the United States. One is in Los Angeles, and the other in Dover, Delaware. This is seen as a drawback by those who may be worried about possible asset seizure by U.S. authorities (see Executive Order 6102 and Gold Reserve Act).
