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AgAu and SDGs: The Financial Stability Of The Future We Want

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  • TARCO International | AgAu.io
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Abstract

Unfortunately, today, close to 2 billion people still lack access to financial services. The continuous struggle to overcome chronic poverty and inequality worldwide triggered international organizations to create and adopt the international Sustainable Development Goals (SDGs) that must be accomplished by 2030. It is our conviction that the root cause of poverty is a lack of access to a sound financial system that leaves no one behind. We cannot tackle the first of SDGs – No Poverty – if we continue to ignore the fundamental flaws of our current financial system. AgAu proposes an alternative to the fractional reserve system by being allocated 1:1 (Full Reserve) and by re-establishing gold and silver as money as opposed to a system backed by government-issued fiat currencies that do not poses intrinsic value recognisable by all and mostly fail as a store of value over time. Our private sector initiative has developed a true alternative to fiat in the form of digital money secured by Switzerland and its private property laws. We fundamentally believe that every person's property belongs to their unalienable rights, this includes their mind, body, and the fruits of their labour. AgAu is determined to create a financial ecosystem in which hard-working people can utilize their assets or transfer payments to their families. We envision a world where each and every person has direct ownership of their assets without relying on financial institutions or intermediaries. By using Distributed Ledger Technology and Smart Contracts, AgAu eliminates central points of failure and creates a stable, secure, and reliable form of money backed by silver and gold in Switzerland. We expect to unleash the unlimited potential within the nations who have suffered the most by providing a reliable and sustainable alternative for countries with challenging economic situations. We believe that wherever AgAu is accepted, the free-enterprise spirit will trigger economic growth and sustainable development. AgAu’s border-less and permission-less system allows to create a more inclusive financial ecosystem that will enhance economic development and enable the accomplishment of other sustainable development goals in the most vulnerable regions of the world.
Takhmina Nasimova and Thierry Arys Ruiz
AGAU OPERATES OUTSIDE THE LEGACY FINANCIAL
SYSTEM AND PROVIDES WITH A SOLUTION TO DEPART
FROM THE FIAT SYSTEM AND GO BACK TO SOUND
MONEY.
IN THE EVENT OF A MONETARY
RESET, THE CONSENSUS
ACROSS THE WORLD WOULD
MOST LIKELY BE SET ON
GOLD.
For media requests, contact: info@AgAu.io or via AgAu.io
Abstract 1
Sustainable Development Goals 4
Problem Statement 5
I. Poverty and inequality (SDG 1 & 10) are fuelled by a lack of inclusion in
economic activity 5
II. Sustainable growth (SDG 8) can only be achieved if the foundation of the
financial system is sound (SDG 9) 7
AgAu for Sustainability 9
Gold is Money 9
What is AgAu 10
I. Blockchain (DLT) technologies can solve the lack of inclusion 11
A. Mobile Phone is All You Need (SDG 1 & SDG 10) 12
B. Transparency through Blockchain with Industry Innovations (SDG9)
and Sustainable Growth (SDG 8) 14
Partnerships for Good (SDG 17) 16
Annex: The AgAu Money System 18
References 20
Money is fundamentally a medium of exchange, a unit of account,
and a store of value. Having good quality money is a necessary
condition for sustainable economic development. Despite adversity,
AgAu aims to become the cornerstone to build economic resiliency.
Many populations and governments lack sufficient financial literacy
and fiscal discipline to provide a prosperous economic environment.
AgAu aims to leapfrog the traditional financial system by providing
the bedrock of a prosperous economy with a sound money system
backed by gold and silver. AgAu allows anybody with a mobile phone
and internet connexion to engage in an inclusive ecosystem and free
enterprise system.
AGA U AG , DAM MSTR ASSE 16
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INFO@AGAU.IO
AGAU MAKES THE CLEAR DISTINCTION BETWEEN CURRENCY AND MONEY
No fiat currency has been able to last 3 generations without going
out of existence or depreciating at least 90% against gold[1].
The fiat currency system has failed as money since it has failed as a
store of value. The problem of low-quality money is even more
pronounced in less developed countries. We strongly declare that
unless “The Money Problem” is solved there will be no economic
sustainability and therefore SDGs cannot be achieved.
Unfortunately, today, close to 2 billion people still lack access
to fi n a ncial s ervic e s . The continuous struggle to overcome chronic
poverty and inequality worldwide triggered international
organizations to create and adopt the international Sustainable
Development Goals (SDGs) that must be accomplished by 2030. It is
our conviction that the root cause of poverty is a lack of access to a
sound financial system that leaves no one behind. We cannot tackle
the first of SDGs – No Poverty – if we continue to ignore the
fundamental flaws of our current financial system. AgAu proposes an
alternative to the fractional reserve system by being allocated 1:1
(Full Reserve) and by re-establishing gold and silver as money as
opposed to a system backed by government-issued fiat currencies
that do not poses intrinsic value recognizable by all and mostly fail
as a s t ore o f value o ver t i m e.
We cannot tackle the first of SDGs – No Poverty – if we continue
to ignore the fundamental flaws of our current financial system.
AgAu proposes an alternative to the fractional reserve system by
being allocated 1:1 (Full reserve) and by re-establishing gold and
silver as money as opposed to a system backed by government-
issued fiat currencies (with no intrinsic value).
AGA U AG , DAM MSTR ASSE 16
63 00 Z UG, S WITZE RLAND
HTTPS://AGAU.IO
INFO@AGAU.IO
AGA U AG , DAM MSTR ASSE 16
63 00 Z UG, S WITZE RLAND
HTTPS://AGAU.IO
INFO@AGAU.IO
Our private sector initiative has developed a true alternative to fiat in the
form of digital money secured by Switzerland and its private property
laws. We fundamentally believe that every person's property belongs to
their unalienable rights, this includes their mind, body, and the fruits of
their labour. AgAu is determined to create a financial ecosystem in which
hard-working people can utilize their assets or transfer payments to their
families. We envision a world where each and every person has direct
ownership of their assets without relying on financial institutions or
intermediaries.
By using Distributed Ledger Technology and Smart Contracts, AgAu
eliminates central points of failure and creates a stable, secure, and
reliable form of money backed by silver and gold in Switzerland. We
expect to unleash the unlimited potential within the nations who have
suffered the most by providing a reliable and sustainable alternative for
countries with challenging economic situations. We believe that wherever
AgAu is accepted, the free-enterprise spirit will trigger economic growth
and s u s taina b l e dev e l opmen t .
AgAu’s border-less and permission-less system allows to create a more
inclusive financial ecosystem that will enhance economic development
and enable the accomplishment of other sustainable development goals in
the most vulnerable regions of the world.
Goals
adopted by countries
No poverty. Zero hunger. Easy access to
clean water and sanitation. Decent work
and economic growth for all. Gender
equality and reduced financial inequality.
Promotion of sustainable industrialization
and f o s ter i n n ovati o n s. Th e s e 17
interconnected Sustainable Development
Goals (SDGs) have been adopted by the
United Nations and by its 193 Member States
in 2015. The SDGs build on the Millennium
Development Goals and represent a new set
of goals within a 15-year sustainable
devel o p ment a g enda.
The overall goal – to l e ave n o one b e h ind - is to b e rea c h ed wi t h in na t i onal
SDG frameworks and work towards achieving the global goals through
collaboration among the public, private, and non-governmental sectors. The
role of financial stability and economic growth are fundamental both to shift
away from unsustainable practices that hold back societies from achieving
sustainable development for all. Collaboration is needed to actively create
innovative solutions and solve existing financial challenges.
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[1] Max Roser and Esteban Ortiz-Ospina (2013) - "Global Extreme Poverty". Published online at OurWorldInData.org.
[ 2] UNCTAD, Trade and Development, 2020. Report.
AgAu is convinced that the root cause of poverty and exclusion of people in world
economic activity is a lack of access to a sound financial system. The challenges
below prove that the Sustainable Development Goals cannot be tackled in a
timely manner unless we redesign our current financial system.
I. Poverty and inequality (SDG 1 & 10) are
fuelled by a lack of inclusion in economic
activity
SDG 1 : no poverty and the SDG 10: reduced inequality are part and parcel of the
United Nations’ Sustainable Development Goals that a r e mea n t to b e achie v e d
by 2030. According to the latest sources the world is not on track to exterminate
or even reduce global extreme poverty and inequality. If anything, these issues
have continued to grow due to the government’s response to the Covid-19
pandemic. Our World in Data has projected that those living in extreme poverty
will r e ach 5 0 0 mill i o n by 2 0 30.[1 ]
The UNCTAD, Trade, and Development Report 2020 predicts that “between 90
million and 120 million people will be pushed into extreme poverty in the
developing world. Hunger and malnutrition are certain to follow, while income
gaps will continue to widen everywhere.”[2] This means that extreme poverty
levels in developing regions will have ripple effects across the world. Records
from the World Bank serve as evidence:
Th e Fo o d an d Agr i cul t ure
Orga n iza t ion’ s rep o rt o n SD G Pro g res s
stat e th a t th e hun g er r ates are o n t h e
rise glo b ally . The dec l ine o f pu b lic
inve s tme n t in gri c ult u re i n rec e nt
year s ch a llen g es t h e s m all- s cale foo d
prod u cer s and fami l y f a rmer s . Th e
shar e of mall - scal e fo o d pr o duce r s i n
term s of all f ood p rod u cers in c o unt r ies
of A f ric a , As i a, a n d L a tin A meri c a
rang e s f r om 4 0 to 8 5 p e rcen t ,
comp a red with fewe r th a n 10 perc e nt i n
Euro p e.[ 6 ]
Far m ers hou s ehol d s a n d ru r al
ente r pri s es l a ck a c ces s to c apit a l o n
comp e tit i ve t e rms t o r e ceiv e
prof i tab l e in v estm e nts that hold the m
back fro m sus t aina b le d evel o pmen t .[7 ]
The cos t of b ank s erv i ces i s
exce p tio n ally high in t he w o rld’ s mo s t
unfo r tun a te d e stin a tio n s.[8 ]
AGA U AG , DAM MSTR ASSE 16
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INFO@AGAU.IO
[3] WORLD BANK GROUP, Poverty and Shared Prosperity 2020: Reversals of Fortune.
[4] UNDP, GOAL 10: Reduced Inequality. Facts & Figures. 2020
[5] UNDP. Temporary Basic Income (TBI). 2020
[6] FAO. SDG Progress Report. 2020
Th e Wo r ld B a nk G r oup s re p ort o n
Pove r ty a nd S h ared Pro s peri t y 20 2 0:
Reve r sal s of F ortu n e, f indi n gs s tat e
that un d er t h e CO V ID- 1 9-ba s elin e
scen a rio , 6.7 perc e nt o f th e glo b al
popu l ati o n wi l l li v e u n der t he
inte r nat i onal pove r ty l ine i n 20 3 0,
comp a red with the t arg e t le v el o f 3
perc e nt. [3]
Th e Un i ted N atio n s D e velo p ment
Prog r am ( UNDP ) con f irm s tha t
ineq u ali t y wo r ldwi d e i s on t he r i se -
the r ich e st 1 0 per c ent have up t o 40
perc e nt o f th e glo b al i ncom e whe r eas
the p oor e st 1 0 per c ent earn only
betw e en 2 to 7 per c ent of g l obal
inco m e.[ 4 ]
UN D P’s rece n t re p ort esti m ates
that to e nsur e equ i ty a nd i n clus i on,
only 12 p erce n t of the tota l fin a nci a l
resp o nse to C O VID- 1 9 i n 202 0 cou l d
prov i de a six - mont h gu a rant e ed
inco m e t o 2.7 bill i on p oor p eopl e .[5 ]
[7] Ibid., FAO. SDG Progress Report.
[8] Laffont, Jean-Jacques, Antonio Estache, and Xinzhu Zhang. Universal service obligations
in developing countries. The World Bank, 2004.
[9] UN Press. Secretary-General Calls for Concerted Action In Message Marking International
Day for Eradication Of Poverty. 17 Oct. 2002. Web.
FOLLOWING ARE THE LATEST RECORDS THAT SERVE AS EVIDENCE:
It is unquestionable that progress is held back by large differences between men
and women as well as between the rich and the poor. The ongoing increase in
poverty and inequality is preventing the rest of the sustainable development goals
to succeed by 2030. It is believed that the main actions of the SDG 2030 Agenda
have been pushed back at least 10 years.
Forme r Secre t a ry-Ge n e ral o f the U N , Kofi A nnan, h as on c e said, extre m e
poverty anywhere is a threat to human security everywhere.”[9]
AgAu wants to embody a sense of urgency and would like to point out that the
main driver of poverty and inequality, is lack of access to quality money, a sound
financial system, and the lack of financial means which prevents participation in
the economy.
AgAu believes that the success of the SDG agenda depends solely on
sustainable growth and innovation in line with SDG 8 and SDG 9. SDG 8 calls for
promoting "sustained, inclusive and sustainable economic growth, full and
productive employment and decent work for all", while SDG 9 calls for “resilient
infrastructure and fostering innovations”. However, progress in achieving both
has been slow and uneven across regions.
Wh i le e merg i ng e c ono m ies e njoy str o ng e c onom i c
grow t h a n d di v ersi f ica t ion, othe r de v elop i ng e c onom ies
fall beh i nd a n d la c k t h e ne c essa r y i n fras t ruct u re a nd
inno v ati o ns. M oreo v er, desp i te s i gns of s o me p r ogre ss,
many reg i ons s uffe r fr o m ex c lusi o n a n d la c k of dece nt
work env i ronm e nts.
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II. Sustainable growth (SDG8) can only be
achieved if the foundation of the financial
system is sound (SDG 9)
[10] AgAu White Paper: AgAu.io/documents
In the World Economic Forum’s FSIEG White Paper, Eric Jing, entrepreneur,
and CEO of Ant Financial Services Group stated that “fintech has great
potential. It could revolutionize access to financial services, improve the
functioning of the financial system, enhance financial inclusion, and promote
economic growth.”[11] Today, without proper investment in innovations and
unless there is an improvement in the quality of money, governments cannot
achieve sustainable growth strategies.
AGA U AG , DAM MSTR ASSE 16
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• The marginal productivity of capital has decreased
the potential competitiveness of many labour-
intensive industries. These constraints challenge
domestic industries of many vulnerable regions.
Low-income regions are in need of investments but also high-quality
innovations enabling them to prosper as developing economies. According to
the World Bank, more than 2 billion people worldwide were unbanked in 2017,
meaning they have no access to essential financial services.[12]
[11] WEF. Balancing Financial Stability, Innovation, and Economic Growth. White Paper. June, 2017.
[12] The World Bank Group. "The Global Findex Database 2017.” The World Bank - Global Findex , 2017. - Data was gathered between 2014 and 2017.
This represents 40 % of adults worldwide with no financial identity. Without
access to basic financial services, populations will not be able to achieve
economic well-being and contribute to the global markets. The current
situation regarding the unbanked and underbanked is a serious problem
impeding sustainable growth. AgAu aims to serve as an essential innovation to
allow inclusion and participation in the world economy.
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Through thousands of years, all across the world, different civilizations, without
communication, reached the same conclusion: Gold is money. From Ancient
Mesopotamia, Egyptian, Greek, to Aztec, and Mayan civilizations all have
agreed upon the standard usage of precious metals to trade and to store value.
Moreover, the chemical element of Gold (Au) is immutable through time which
makes it a unique chemical property that is most malleable of all metals and is a
good conductor of energy (heat and electricity).
• Humanity has only departed completely from the gold standard 50 years
ago (August 1971) when Richard Nixon, then President of The United
States suspended "temporarily" the convertibility of the dollar into gold.
[13] What followed is now known as the "Nixon Shock.” However, the
gold is still part of the most central bank reserves today.
Today, The Bank for International Settlement (BIS) recognizes central banks’
holdi n gs of p hysica l gold a s a re s erve a s set eq u al to c ash.[14 ]This m eans th at
gold is accounted for 100 percent as Tier 1 Capital. It is i mport a n t to n o tice
that allocated physical gold is the only form of money that does not
represent a liability. If there was to be a great default event that would
jeopardise the entire financial system, those holding physical gold would
most likely be able to benefit. That is why gold is perceived as a natural
hedge agains t a sys t emic c o llapse .
[13] Richard Nixon Foundation “The Challenge of Peace - President Nixon's Address to the Nation on A New Economic Policy.” Richard Nixon Foundation.
Youtube. Aug 15, 2014.
[1 4] Ne isa n,M. Fur th er En han cem en t o f the Base l f ra mew ork “ Bas el IV ”. S ept em ber , 201 6. Pw c. Web.
Source: AgAu & The New Taxonomy of Money
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Gold is Money
Gold a s mone y is an t ifragi l e, mea n ing th a t the m ore it is test ed and
challenged, the stronger it becomes.[15] In fact, the more we depart from it,
the clearer the evidence becomes to validate “gold money” as the only
sustainable form of money so far discovered. In 1968, gold was 35$/oz,
today’s price is around 1700$/oz. This gives gold performance of 48.6 times
better or, most accurately, a dollar loss of 98% compared to gold.
AgAu is a Peer-to-Peer, Electronic Money System convertible to gold and silver
which is built on the Ethereum blockchain. Each AgAu token is backed 1 to 1 and
represents 1 gram of allocated good delivery standard LBMA (London Bullion
Market Association) quality (99.99%) gold or silver; redeemable against standard
gold and silver bars.
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Gold is deemed to be honest money as its value cannot be
mandated arbitrarily by governments or central bank
intervention over the long term.
[15] LIBERTO, DANIEL. “ANTI-FRAGILITY DEFINITION.” INVESTOPEDIA, INVESTOPEDIA. JULY,29, 2019.
PROPERTIES OF AGAU TOKEN
What is AgAu?
As we are transitioning into the digital age where there is an increasing need for
a stable form of money. With the internet, distributed ledger technologies, and
smart contracts it is now possible for everyone to have access to AgAu, a peer-
to-peer, electronic money system backed by gold and silver.
AgAu is determined to create an ecosystem where hard-working people can
execute transactions instantly in a transparent and permission-less system.
AGA U AG , DAM MSTR ASSE 16
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INFO@AGAU.IO
AgAu aim s to d emoc r ati s e a s uper i or f orm o f mo n ey
with i n a dece n tral i zed fina n cial sys t em
Digital inclusion and financial stability are intrinsic to AgAu’s core values.
AgAu aims to return to a better gold standard by establishing direct
ownership. AgAu brings transparency, efficiency, and effectiveness to
contribute to many of the Sustainable Development Goals.
I. Blockchain (DLT) technologies can solve the lack
of inclusion
Blockchain technologies, or distributed ledger technologies (DLT) can increase
efficiency in business processes by lowering costs and increase speed within a
trusted, transparent, and secure system. Blockchain technologies are
revolutionizing the global payment system and improving access to financial
servi c es.
NGOs, governments, and private foundations spend billions of dollars on
humanitarian aid and development projects yearly. However, more than half of
that money does not reach the poorest regions due to lack of transparency,
inefficient administrations, and the non-inclusive banking system.
The usage of the public Ethereum Blockchain and Smart Contract
Technology by AgAu allows creating a permission-less global
money system backed by silver and gold that makes it the
perfect medium of exchange, store of value, and unit of account
worldwide.
Blockchain technology is a tool that can contribute to the development and
sustainability of the world through its numerous features. AgAu uses the
public Ethereum Blockchain – the most popular decentralized blockchain with
the largest ecosystem – to guarantee an audit trail of transactions should the
participants in the organisation wish to increase transparency.
Blockchain technology uses cryptographic security to secure access and
transactions within the distributed network. Blockchain technology lowers the
uncertainty and builds trust between users since the network holds a record of
all transactions publicly, making the data almost impossible to corrupt. As a
result, the immutability of the data removes possible corruption by providing
transparency and accountability.
A. All You Need is a Mobile Phone
(SDG 1 & SDG 10)
The issues of poverty and inequalities have largely been the results of
dysfunctional institutions. These, also, depending on the different quality of
money available across countries. As stated before, most legal tender fiat
currencies do not accomplish a proper function of store of value. This has many
repercussions since those who have access to better quality money possess a
large advantage. Conversely, those with poor quality money (mainly due to
mismanagement of government finances and monetary policy) suffer large
economic and opportunity shortfalls.
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Sound money is a necessary condition for wealth creation. The first step
towards ending poverty and reducing inequalities shall be to establish a solid
ground base for the global financial system. However, this cannot be achieved
under current circumstances given the excess leverage and systemic risk
intrinsic to the global financial system. AgAu propo ses to r edefin e the g l obal
financial system by re-establishing the uncontested and most stable form of
money over the long term: Gold. Gold is apolitical, as a result, it maintains
independence as a global neutral money.
With AgAu there is little to no barrier to entry since it only requires a mobile
phone with internet access. According to the World Bank, “there are more than
3.8 billion unique mobile subscribers in developing countries; in these markets,
more people have access to a mobile phone than to clean water or
electricity.”[16] In the post-pandemic world with remote working as a new
normal, it is urgent to allow financial inclusion for those in remote regions.
"In oth e r c o unt r ies , th e tr adit iona l b a nki n g s y ste m ha s fa i led
to r eac h pe o ple liv i ng in r emot e re gio n s. H owe v er, as l ong as
the y ha v e a n in t ern e t c onne ctio n, d igi t al m one y ca n co v er
the i r n e eds mor e ef f ect ivel y. T he t ech n olo g y u sed to des i gn
the us e r’s int e rfa c e behi nd dig i tal mo n ey w ill rep l ace all
int e rac t ion s be t wee n ba nks and acco unt hol d ers . " [ 1 7]
- A n ton i o F a tas and Bea tric e We de
[16 ] THE WORL D BAN K GROUP. W ORLD BANK GROUP AND GSMA ANNOU NCE PARTNE RSHIP TO L EVERA GE IOT BIG DATA FOR DEVEL OPMEN T. PR ESS
RELEASE, WBG, FEB. 2018
[17 ] FAT ÁS, A ., & WEDER DI M AURO, B... (201 8, MA Y 7). MAKI NG (SOME) SENSE OF C RYPTO CURRENCIES : WHE N PAYMENTS SYST EMS R EDEFI NE MONEY.
(C. P. P ORTAL , PRO DUCER).
AgAu is actively approaching countries with challenging economic situations or
devaluing currencies. Those who wish to bring back credibility and trust in the
country’s commercial transactions and provide its constituencies with stable
money accessible directly through a simple mobile phone can now facilitate the
prosperity that comes with economic freedom with AgAu.
Having a neutral, stable, and universally recognised unit of accou n t, med i um of
exchange, and store of value put every nation on a level playing field and
constitutes a cornerstone to reducing poverty and inequalities. As a result, AgAu
aims to promote access and participation in economic activities by reducing the
number of people left outside of the current monetary system.
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Blockchain technology allows for a low fee, fully transparent, and
decentralised system providing secure and cost-effective money transfers
without the need for large infrastructure.. For example, it st r e ngthe n s the
capacity of small-scale food producers and family farmers to price and
receive payments in our stable money: AgAu Gold and AgAu Silver.
Farmers and rural enterprises can access international investments, trade
freely, and build world-class infrastructure, all without the need for a bank
accou n t.
B. Transparency through Blockchain with Industry
Innovations (SDG 9) and
Sustainable Growth (SDG 8)
Enjoy a worldwide and transparent pricing: Pricing goods in
gold rather than any local or international fiat currency allows for a
very international and transparent price and therefore increases the
price competitiveness since there is no Foreign Exchange (FX) rate
to apply in order to compare prices in AgAu if everything is priced in
gold. This can particularly benefit emerging markets suffering from
excessive FX commissions. In many instances, FX rates represent a
trade barrier.
With A g Au, M e r chant s can:
Blockchain combines transparency with industry innovations and infrastructure
improvements that directly targets SDG 9 by fostering innovations and builds
a cap a city t o focus on SDG 8 to stimulate sustainable growth. Equ a l
sustainable development worldwide is not achievable without providing these
main components to countries with developing economies. Many industries and
infrastructures in developing parts of the world struggle to access international
inves t ments a nd inn o vation s .
Trade w ith t h e unba n k ed: Owning AgAu in a personal and private
electronic wallet does not require a bank account. To operate, AgAu
only needs a mobile phone and internet access, there is little to no
barrier to entry. AgAu is virtually banking the unbanked while keeping
assets safe and protected from theft.
Execute peer-to-peer transactions: Besid e s having the payme nts
cleared and settled in instantly the blockchain technology allows for
cross b o rder paym ents at ver y l ow costs. AgAu allo w s for peer- to-peer
(P2P) transactions without intermediaries. These transactions are not
subje c t t o t he h igher fe es current ly c harged by ban k s o r e v en c redit card
companies usually charging around 1% to merchants (these costs are
usual l y passed ont o t he consume r a nd are refle c ted in the pric e o f g oods
and s ervice s ). W hile r emitta n ce s ervice s are t he m ost w i dely u sed b y
under b anked popul a tions they are also the most expen sive with
exorbitant commissions by cumulating FX and service fees.
AgAu con s titu tes a n in n ovat ion f or r e mitt ances and coun try t o cou ntry tran sfers wit h
inst ant c lear ing a nd s e ttle ment paym e nts (inst ead o f t+ 3) at a fr acti o n of the curr e nt
cost . Ag A u Go ld an d Si l ver as a high - qual ity a nd st able medi um of exc h ange will
be a ble t o co mpete as a n in terna tion a lly recog nised sto re of valu e. A g Au a ims
to r educ e loc al an d gl o bal trade bar r iers by a llowi ng i nclus ive p arti c ipat ion
of a ll e c onom ic ac tivi t ies.
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Cryptocurrency backed by gold and silver, AgAu is a hallmark of
the innovations that can be of benefit for many.
It is important to enhance the economic resilience and inclusion of developing
nations through effective partnerships. AgAu is focused on strategic
partnerships that support and help to accomplish this mission. Today,
especially with the ongoing growth of mobile and internet accessibility in the
developing regions, partnerships easily established and carried on. Enhanced
international cooperation ensures sufficient means for all developing countries
to have an opportunity to improve their livelihoods. AgAu welcomes any future
partnerships with government entities and Non-Governmental Organizations
(NGOs), potential users and communities, investors, and media.
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Government entities and Non-Governmental Organizations (NGOs)
AgAu’s approach is the key solution to achieve most of the Sustainable
Development Goals. Economic growth and sustainability can’t be achieved
without proper partnerships with government entities and non-governmental
organizations. It is essential to build strong cooperation towards achieving
sustainable and inclusive growth together with our partners.
Users a nd Co m m uniti e s
AgAu users and communities are the main drivers of this platform. Hence,
AgAu is determined to enhance the capacity-building and financial inclusion
of its users and communities. Anyone interested in being part of a vibrant
and open community that encourages freedom and moves us towards a better
system can become part of the change. Give us feedback and help us fix
what is broken in the financial system by engaging with us and spreading the
word.
Media & Co
AgAu is eager to communicate about progress and partner with media
organisations to spread the word, educate, and promote its vision.
Twitt e r : https : / /twit t e r.com / A gAuCr y p to
Facebook Page: http s ://www . f acebo o k .com/ A g Aucry p t o
Linke d i n: https://www.linkedin.com/company/AgAucrypto
Youtu b e : https://www.youtube.com/AgAuCrypto
Mediu m : http s : //med i u m.com / @ AgAuC r y pto
Telegram Group: http s ://t.m e / AgAuC r y pto
Insta g r am: https://www.instagram.com/AgAucrypto
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American Economist Alan Greenspan has emphasized the importance of the
gold s t andar d in hi s Gold a nd Ec o n omic F r eedom essay s tating that i n the
absence of the gold standard, there is no way to protect savings from
confiscation through inflation. There is no safe store of value. If there was, the
government would have to make its holding illegal, as was done in the case of
gold.” [18] The traditional banking system has failed to provide security and
stability to the most vulnerable populations. This justifies AgAu's aim to solve
“The Money Problem” by introducing a unique Gold standard 2.0 and allowing
the r e t urn o f priva t e mone y .
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The A gAu Mone y Sys t em
The i mag e bel o w hi g hli g hts t he d i ffe r ence betw e en m oder n for m s of mon e y
incl u din g the prev i ous Bret t on W o ods Syst e m de e med to b e a g o ld s tand a rd a l beit
it w a s t empo r aril y su s pend e d i n 19 7 1 un t il t h e cr eati o n of a su peri o r go l d
stan d ard in t h e na m e o f The AgAu Mon e y Sy s tem ( AMS)
[17] Greenspan, A. “Gold and Economic Freedom”. Capitalism: the Unknown Ideal.1966.
AgAu Money System
Af t er thr e e hund r ed ye a r s of c oins, a ll eco n omists
hav e stopp e d any f urthe r devel o pment o n them .
Mon e y hasn t been impro v e d and it has become worst
in t he cou r se of t ime - Fried r ich A. von Ha y ek
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In order to exterminate the worldwide challenges and achieve sustainable
development goals, we must take a new approach in the way we do things. The
current monetary system has actually increased the issues of poverty,
inequality, and secure sustainable growth. AgAu ensures direct ownership,
better security, transparency, inclusion, and a historically proven and apolitical
monetary standard. If and when the next monetary crisis occurs AgAu aims to
becom e a via b l e alt e r nativ e .
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For media requests, contact: info@AgAu.io or via AgAu.io
AgAu White Paper. Published Online at AgAu.io. Retrieved on Nov. 10,2020 from:
AgAu.io/documents
FAO. SDG Progress Report. Published online at FAO.org. Retrieved on Nov. 10, 2020 from:
https://www.fao.org/sdg-progress-report/en/
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developing countries. The World Bank, 2004. Retrieved on Nov.10,2020 from:
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on Nov. 10, 2020 from: https://www.investopedia.com/terms/a/anti-fragility.asp
Max Roser and Esteban Ortiz-Ospina (2013) - "Global Extreme Poverty". Published online at
OurWorldInData.org. Retrieved on Nov. 10, 2020 from: https://ourworldindata.org/extreme-
poverty
Neisan, M. Further Enhancement of the Basel framework “Basel IV”. September, 2016. Pwc.
Web. Retrieved on Nov. 10, 2020 from:https://www.pwc.com/gx/en/advisory-services/basel-
iv/basel-poster.pdf
Richard Nixon Foundation “The Challenge of Peace - President Nixon's Address to the Nation
on A New Economic Policy.” Richard Nixon Foundation. Youtube. Aug 15, 2014 Retrieved on
Nov. 10, 2020 from: https://youtu.be/ye4uRvkAPhA?t=526
The World Bank Group. “The Global Findex Database 2017.” The World Bank - Global Findex,
2017. Retrieved on Nov. 10,2020 from: https://globalfindex.worldbank.org
The World Bank Group. World Bank Group and GSMA Announce Partnership to Leverage IoT
Big Data for Development. PRESS RELEASE, WBG, Feb. 2018. . Retrieved on Nov.10, 2020
from:https://www.worldbank.org/en/news/press-release/2018/02/26/world-bank-group-and-
gsma-announce-partnership-to-leverage-iot-big-data-for-development
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For media requests, contact: info@AgAu.io or via AgAu.io
The World Bank Group, Poverty and Shared Prosperity 2020: Reversals of Fortune. Report.
WBG., 2020. Retrieved on Nov.10, 2020 from:
https://openknowledge.worldbank.org/bitstream/handle/10986/34496/9781464816024.pdf
UNCTAD, Trade and Development, Report. 2020 Retrieved on Nov. 10, 2020 from:
https://unctad.org/system/files/official-document/tdr2020_en.pdf
UNDP, GOAL 10: Reduced Inequality. Facts & Figures. Retrieved on Nov.10, 2020
from: https://www.ps.undp.org/content/papp/en/home/sustainable-development-goals/goal-10-
reduced-inequalities.html
UNDP. Temporary Basic Income (TBI). Report. 2020 Retrieved on Nov.10, 2020 from:
https://www.undp.org/content/undp/en/home/librarypage/transitions-series/temporary-basic-
income--tbi--for-developing-countries.html
UN Press. Secretary-General Calls for Concerted Action In Message Marking International Day
for Eradication Of Poverty. 17 Oct. 2002. Web. Retrieved on Nov.10, 2020 from:
https://www.un.org/press/en/2002/sgsm8431.doc.htm
WEF. Balancing Financial Stability, Innovation, and Economic Growth. White Paper. June,
2017.Retrieved on Nov. 10,2020 from:
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Article
Full-text available
This paper develops a model to analyze the impacts of asymmetric information on optimal universal, service policy in the public utilities of developing countries. Optimal universal service policy is implemented using two regulatory instruments: pricing and network investment. Under discriminatory pricing asymmetric information leads to a higher price, and smaller network in the rural area, than under full information. Under uniform pricing, the price is also lower but the network is even smaller. In addition, under both pricing regimes, not only the firm, but also taxpayers have incentives to collude with the regulator.
Published online at FAO.org. Retrieved on Nov
  • Fao
  • Sdg Progress
  • Report
FAO. SDG Progress Report. Published online at FAO.org. Retrieved on Nov. 10, 2020 from: https://www.fao.org/sdg-progress-report/en/
Making (Some) Sense of Cryptocurrencies: When PaymentsSystems Redefine Money. (C. P. Portal, Producer). Retrieved on Nov
  • A Fatás
  • B . Mauro
Fatás, A., & Weder di Mauro, B... (2018, May 7). Making (Some) Sense of Cryptocurrencies: When PaymentsSystems Redefine Money. (C. P. Portal, Producer). Retrieved on Nov.10, 2020 from: ttps://voxeu.org/article/making-some-sense-cryptocurrencies
Gold and Economic Freedom". Capitalism: the Unknown Ideal
  • A Greenspan
Greenspan, A. "Gold and Economic Freedom". Capitalism: the Unknown Ideal.1966. Retrieved on Nov. 10, 2020 from: https://www.investmentoffice.com/Observations/Beyond_Finance/Gold_and_Economic_Freedo m.html
Anti-Fragility Definition
  • Daniel Liberto
Liberto, Daniel. "Anti-Fragility Definition." Investopedia, Investopedia. July,29, 2019. Retrieved on Nov. 10, 2020 from: https://www.investopedia.com/terms/a/anti-fragility.asp
Global Extreme Poverty
  • Max Roser
  • Esteban Ortiz-Ospina
Max Roser and Esteban Ortiz-Ospina (2013) -"Global Extreme Poverty". Published online at OurWorldInData.org. Retrieved on Nov. 10, 2020 from: https://ourworldindata.org/extremepoverty
Further Enhancement of the Basel framework
  • M Neisan
Neisan, M. Further Enhancement of the Basel framework "Basel IV". September, 2016. Pwc. Web. Retrieved on Nov. 10, 2020 from:https://www.pwc.com/gx/en/advisory-services/baseliv/basel-poster.pdf
The Challenge of Peace -President Nixon's Address to the Nation on A New Economic Policy
  • Richard Nixon Foundation
Richard Nixon Foundation "The Challenge of Peace -President Nixon's Address to the Nation on A New Economic Policy." Richard Nixon Foundation. Youtube. Aug 15, 2014 Retrieved on Nov. 10, 2020 from: https://youtu.be/ye4uRvkAPhA?t=526