GCP

Globcoin Crypto Platform


The Platform will enable the launch of customised currency baskets for a variety of uses. Currency baskets are portfolios of selected currencies with different weightings.

Taking currency beyond national borders


Globcoin Crypto Platform
Accessibility

Used by Central Banks, very few people would have access to the network necessary to construct such an offering themselves. No retail bank or broker currently offers such a basket.

Flexibility

The Platform will provide flexibility to investors and allows them to express a view on a country or a group of currencies, or to hedge against the weakening of others.

Stability

The first basket to be launched, corresponding to the World Reserve Currency (which we call GLX), will enable its holders to tactically switch to the most stable instrument, proven historically to be even more stable than the Swiss Franc.

Scalability

This system allows Globcoin to create bespoke baskets for different markets.

GCP ERC-20 token

Bringing stablecoins to the next level


Security

All participants in the GCP ICO have completed the Globcoin standard ID verification. Globcoin has separately performed an AML check on these participants.

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All payments received for GCP tokens regarding the Initial Token Sale are held in escrow in a secure multisignature address, and will only be released from the account with 2 out of 3 signatures:

  • Helie d’Hautefort – Founder
  • Bertrand Weisgerber – Co-founder
  • Linda Leaney – CFO

Technology
ethereum

The GCP ERC-20 token is coded on smart contracts running on Ethereum that were deployed on the Ethereum mainnet on February 9 2018.

To load GCP on MyEtherWallet, you can follow the Showing & Loading Tokens process. The process is similar with MetaMask.

Token name

GCP

GCP token smart contract address

0xdb0F69306FF8F949f258E83f6b87ee5D052d0b23

Decimals

18

Issuance of GCP tokens was effected on March 26 2018 when the GCP crowdsale was finalised.

Currency

1 GLX

1 USD

USD

1.0000

EUR

CNH

JPY

INR

GBP

RUB

BRL

MXN

CAD

KRW

TRY

IDR

AUD

TWD

XAU

Globcoin Platform use case 1

GRCI® basket

GRCI® basket is well diversified amongst G10, emerging currencies and gold and covers between 80% to 85% of the World Economy. The Index weights are calculated using Gross Domestic Product (GDP) data adjusted by the Purchasing Power Parity (PPP) thus allowing for greater weight in the EM currencies to reflect the higher growth potential in those economies.

The base date of the index is January 3rd, 2000. The base value of the index is 100.

The GRCI® basket will be tokenized to Ethereum mainnet as the ERC-20 token GLX in Spring 2018.

Read Description of the Index – Basic Principles
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The value of a GLX unit reflects the world economy including its new components and trends such as the booming economies of countries like China or India, while maintaining a good balance of the currencies of Western economies.

Globcoin Platform use case 2

GLX

Globcoin’s GLX are ERC-20 tokens that function as a store of value and a medium of exchange. Every token represents 1 unit of a basket - the GRCI® basket - consisting of the national currencies of the 15 largest economies and Gold, as measured by GDP, adjusted by PPP.

GLX token smart contract will be deployed in Spring 2018 and will be 100% backed on a 1 X 1 ratio. The assets will be in custodian with a Prime Bank meaning that for every GLX issued there will be the collateral in fiat currencies and Gold held at the Bank. GCP Utility Token will be the privileged access to exchange GLX for fiat currencies.

Globcoin Platform use case 3

Multicurrency Payment Card

Globcoin Multicurrency Saving Account and Multicurrency Prepaid MasterCard is a platform accessible online or via an App, offering the combination of multicurrency payments and savings.

Read More

Tokenomics


GCP logo

GCP Utility Token

The GCP is a pure utility Token and is used to access the services of issuing or exchanging the tokens representing the currency baskets available on the platform. The GCP token is a link to the license for the use of various baskets linked to proprietary currency indices.

Each GCP has the following rights:

  • Exchange the currency baskets tokens (such as GLX), directly with the issuer at 0% fee according to a grid calculating the required level of GCP holding per amount of desired transaction in currency basket.
  • Get a direct access for trading on the Globcoin Exchange to benefit from the liquidity created by the platform.

The GCP utility token has a limited supply of 29,089,448 tokens, and there will not be other GCP issued in the future.

GLX Global Currency Token

The first basket that will be launched on the platform is the Global Currency Index and its associated token GLX.

Users will be able to buy GLX:

  • On exchanges (to be announced)
  • On the Globcoin Platform : GCP holders will be able to exchange their fiat currencies for GLX on the Platform with 0% fee. GCP holders will be able to use the service of exchanging Fiat for GLX or GLX to Fiat currencies as many times as they wish.

The tokens associated with currency baskets will not have any supply limit. GLX and all tokenized baskets on the platform will be properly backed by bank deposits as per their specifications.

Business model

By acquiring the GCP, users can have access to the platform and trade currency baskets such as the Global Currency (GLX) without paying any fee according to the following schedule:

Transaction Amount in GLX basket

Level of GCP tokens required

From 001 to 1,000 USD

Amount in USD X 0,40

From 1001 to 10,000 USD

Amount in USD X 0,30

From 10,001 to 100,000 USD

Amount in USD X 0,20

From 100,001 to 1,000,000 USD

Amount in USD X 0,10


Example: An investor wants to buy GLX for an amount of USD 1,000 000.

To have access to the liquidity of the Globcoin platform and to have zero fee to pay, he needs to hold:

(1,000 x 0.4)+(9,000 x 0.3)+(90,000 x 0.2)+(900,000 x 0.1) = 400+2700+18000+90000 = 111100 GCP

If GCP's market price is still 1/10000 ETH ie 0.08 USD at current price, that represents 8,888 USD or 0.88 % of the amount traded.

If he does not own the GCP, he has to buy GLX from an existing holder at an exchange that will probably cost him between 1% and 4 % for each trade, whilst the GCP is allowing an unlimited number of trades.

In addition to this, the access provided by GCP is not limited in terms of number of trades. So with 111 100 GCP he will be able to trade as many times as he wants up to an amount of USD 1 000 000. To analyze the dynamics of the business model, we have to assume that the value of a platform-utility token such as the GCP is the value of the services and discount it provides.

Why do we anticipate the demand for the GCP coin will grow?

We are also confident that tokenized baskets (such as GLX) will create a significant network effect that will provide an exponential growth potential.

We also had requests for other type of baskets on the GLX model by several institutions. With every new user of the currency baskets, the demand for GCP grows and let us remembers it is a very scalable product. Growing demand means a growing GCP price as the supply of GCP is limited to 29,089,448.

Timeline

Timeline of our vision.



2012

Publication of the Rulebook for a basket of currencies representing the World Global Economy

Reserve Currency Solutions RCS SA based in Zug (Switzerland) is created

2014

2016

Launch of Globcoin multicurrency prepaid Mastercard

Partnership with Blockchain Partners

01/08/2017

21/11/2017

Publication of the crowdsale smart contracts

Globcoin Crypto Platform Pre-Sale

12/02/2018

04/03/2018

End of GCP Pre-Sale

Start of GCP Sale

04/03/2018

26/03/2018

Conclusion of the GCP Token Sale

Issuance of GCP starts

26/03/2018

06/04/2018

Airdrop token distribution

Spring 2018

GCP quoted on various exchanges

Globcoin Crypto Platform launch: regulatory framework, banks arrangements & auditors announced, IT back-end completed

Spring 2018

Spring 2018

GLX token smart contract launched

First Partnerships Announced

Summer 2018

Summer 2018

GLX quoted on exchanges (subject to regulations)

GLX available on the e-wallets of the Globcoin card

Autumn 2018

Autumn 2018

New Partnerships Announced

P2P transfers in Globcoin, the most stable crypto-currency in the world.

Autumn 2018

2019

Opening branches in Asia, Eastern Europe and South Africa to expand global footprint for GLX and the Globcoin card