LAS VEGAS, July 16, 2014 /PRNewswire/ -- Anthem Vault Inc., the leading technological innovator in the bullion markets, has announced the first open-source, fully gold-backed cryptocurrency at FreedomFest 2014, which was held in Las Vegas, Nevada, USA. The currency was secretly launched on the 4th of July 2014 by Anthem Vault's technology team in conjunction with Vancouver-based Newnote Financial Corp.
Dubbed the "Independence Coin," this first Anthem Vault alt-coin is commonly referred to as a MGC (Micro Gold Coin). "This coin stands for currency independence and demonstrates the use of cryptocurrencies as micro-gold weighted instruments in commerce," said Anthem Hayek Blanchard, Anthem Vault CEO and Founder.
Anthem Vault is the technological leader in the bullion markets in the US and is poised for the global expansion of its innovative use of technology in the sale, storage, and use of the oldest form of real money in the world -- precious metal bullion. The INNCoin (IndependenceCoin) is just the latest example of new technology being deployed in innovative fashion to facilitate easier ownership, storage and transfer of precious metals in commerce. Gold and Silver are the two most common forms of "real money" and are the focus for investment, storage and long-term wealth preservation by Anthem Vault clients.
The INNCoin is an open-source cryptocurrency, meaning that any person can download and look at the source code behind the coin, which is similar to bitcoin. However, the coin has some unique attributes setting it apart from bitcoin. For example, there will only be a total of 10 million INNCoin in this series. All coins will be fully mined within 1 year, meaning all 10 million INNCoins will be in circulation and/or ownership by July of 2015. The entire series of MGC's are backed by 100 grams of gold stored at Anthem Vault, providing a base value to all cryptocoins from the first moment the coins are "mined."
An Anthem Vault account is FREE to create and there is no obligation to make a purchase. Creating an account is currently the only way to get an Anthem Vault INNCoin wallet to hold this new crypto currency. Each AV wallet also contains mining software to allow even the most novice user the ability to download the wallet and mine / produce INNCoins right from their computer! This experimental currency is being used to demonstrate how gold or any precious metal can back a cryptocurrency and become a truly independent commerce solution.
About Anthem Vault
Anthem Vault is a precious metals dealer offering fractional investment in one-kilo (32.15 oz. .9999 fine) gold bars and COMEX-approved 1,000 oz. (.9990 fine or higher) silver bars. All bars are assayed by globally recognized LBMA-approved refiners.
All metal is vaulted in an independent professional world-class facility in Salt Lake City, UT and is insured against theft and natural disaster by Lloyd's of London. Anthem Vault is the only U.S.-based company that offers the ability to buy metal by direct deposit (ACH/EFT), wire transfer, and bitcoin.
Anthem Vault (led by Anthem Hayek Blanchard, eldest son of James U. Blanchard,III) continues to carry forth a legacy of trust, professionalism and innovation as it leads the global bullion dealer industry in technological innovations, providing for greater liquidity and fungibility.
Contact: Adam Dickter, (646) 808-3700, www.anthemvault.com
SOURCE Anthem Vault Inc.