Robert Ross, host of XCP Update, brought on HayekGold creator and CEO, Anthem Blanchard for an interview about the “Asset of the Week”: HayekGold.
If you’ve been keeping an eye on the latest Anthem Vault news or any recent cryptocurrency headlines, you probably noticed some stories about HayekCoin. We’ve been extremely excited to work on the new project that makes effortless gold transactions a reality. However, as development continued, we decided that a small name change might help clarify exactly what the crypto-asset is and how it works. That’s why HayekCoin officially became HayekGold on March 20, 2015. We also created the awesome new logo pictured above.
HayekGold is a brand new, gold-backed digital currency. Each full token is worth and will always be worth one gram of gold. The physical bullion represented by the cryptocurrency is stored by Anthem Vault in a facility with state-of-the-art security. It is fully insured and audited annually by an independent party, and the official symbol is XHYK. Keep an eye out for new exchanges that will feature the HayekGold cryptoasset.
Because the tokens are digital, however, they can be transferred around the globe, instantly. It’s now possible to send any amount of gold to anywhere on earth – even across borders – for virtually no cost. HayekGold runs on the Counterparty infrastructure which is a layer on top of the Bitcoin network. That means that every transaction is recorded on and secured by the most powerful blockchain on the planet.
The decision to change the name of the currency was made because HayekGold is not quite like all the other cryptocurrencies out there. When most people talk about cryptocoins, they are referring to a digital currency that can be mined (created) with a computer. HayekGold, however, does not involve any digital mining. Sure, the physical gold has to be mined in the traditional sense (by digging into the earth!), but the digital tokens can never be created out of thin air. They can only come into existence when real gold is deposited into Anthem Vault.
The first half of the name (Hayek) was preserved for a few reasons. First of all, we love F. A. Hayek, one of the greatest contributors to the Austrian School of Economics. He wrote a number of valuable books and articles about the free market, price theory, and more throughout the 20th century. Second, Anthem Vault’s CEO is named Anthem Hayek Blanchard. His parents loved F. A. Hayek’s work so much that they named their son after him!
As the HayekGold project continues to grow, we hope that it will bring great benefits to many people. Gold has been a sound asset for many centuries and now that it’s easier to transfer, opportunities could show up everywhere. We’ve also loved the cryptocurrency community for a long time and we hope that adding gold to the picture will make this digital revolution even more powerful. If you’d like to try out the new currency, you can buy HayekGold at AnthemVault.com.
LAS VEGAS, June 4 — Today HayekGold (XHYK), stored in the secure, world-class vaulting facility in Salt Lake City, Utah, released and will be purchased at the market value at the time of the transaction.
Inspired by Nobel Prize winning Austrian economic author and academic thought leader, Friedrich A. Hayek — a household name in the world of free market economics — HayekGold simplifies gold into a digitized asset that’s easy to manage in a global market. The digital asset can help gold owners move their gold more fluidly, while also minimizing transfer costs.
“We use the latest, most secure technology — the Bitcoin block chain — that fuels hundreds of other crypto-related platforms,” said Anthem Vault founder and CEO Anthem Blanchard.
“The Hayek coalesces the most trusted store of value in history, gold, with the world’s most secure exchange network, Bitcoin. Gold is hardly volatile and can help create a more anchored currency and savings plan.”
All gold stored at Anthem Vault facilities is refined at LBMA-approved refineries and bought from commercial bullion dealers. Anthem Vault stores 1 kilogram bars of gold and silver that customers can purchase via www.anthemvault.com. Customers are welcome to visit the secure facilities in Salt Lake City and full audits are conducted annually.
The son of legendary activist James U. Blanchard III, who helped restore Americans’ right to own gold bullion, Anthem Blanchard has been a lifelong advocate of decentralized sound money. His middle name, also happens to be “Hayek.”
Individuals or entities who buy HayekGold simply open an account at Anthem Vault and buy gold, with a minimum $25 purchase. They then have the option to transfer their gold to a “wallet” where they can easily send the hayeks to a friend, relative, vendor or creditor. Ultimately, a debit card will allow in-person retail spending.
Last summer, Anthem Vault launched the IndependenceCoin as a prototype precursor to the hayek, with 10 million digital coins backed by 100 grams of gold. All coins are expected to be mined by the July anniversary.
Anthem Vault has launched a gold-backed cryptocurrency based on bitcoin blockchain. The currency was called Hayek in honor of Friedrich Hayek, Austrian Nobel-winner economist. Official press release says that “one coin will be valued at 1 gram of gold at the day’s market price and will serve as a more secure store of value than Bitcoin.” Hayeks will be stored in digital wallets like any other cryptocurrency.
Anthem Vault was founded in 2011 and thereafter proved to be a reliable gold and silver retailer. It provides customers with services of purchase, store and sale of 100% fine gold and silver bullion. Anthem puts security at the top of its priorities and has won trust of their clients for several years of impeccable service.
Anthem Blanchard, CEO of Anthem Vault, holds ground that gold remains to be “the most trusted store of value of all time”.