c-gold debuts, but…

Commerce gold (c-gold), a new digital gold currency has debuted, but despite the features and potential, I have some resentment about the shameless copying of e-gold’s web site look-and-feel. They could also have been more creative with the name. c-gold is just too similar to e-gold.

Aside the increased usage amongst other digital gold currencies, new ones are coming-up. This is as a result of the recent legal troubles e-gold/Omnipay has been having the the United States Department of Justice.

That said, I’d point out that c-gold promises to do many of the things e-gold does, an more. The one I find most significant is that they offer some verification for each account. Unlike e-gold’s anonymity with has attracted shady characters to their system.

According to DigitalMoneyWorld:

Verified accounts require ID, utility bills and other personal information. Why? The c-gold operators understand that the ‘The Know Your Customer’ (KYC) rules/regulations/laws spanning multiple jurisdictions around the globe are very important in today’s digital economy in order to combat terrorist funding, money laundering, child pornography, copyright infringements and to help eliminate attempts to abuse the c-gold system.

What can make the Malaysian digital gold currency promising? It operates online and offline, easy gold deposit and redemption, multilingual website (soon), customer support.
What can I say? The more the merrier, but only the strong will survive.

As at the time of blogging, c-gold’s website revealed the following stats:

8-Jul-2007 8:47:42 AM GMT

c-gold System Activity in the Past 24 hours
New Accounts: 23
Users Accessing Acounts: 31
Number of Spends: 2
Spent Weight (G): 131.104

Balance Summary
Number of Funded Accounts: 7
Avg Funded Account Balance (G): 742.8571
c-gold in circulation (G): 5200

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Oluniyi D. Ajao
Oluniyi D. Ajao is an Internet Entrepreneur and Tech Enthusiast based in South Africa. Follow him on twitter @niyyie for more tech updates.


  1. Thank you for mentioning c-gold.com on your site.
    I’m sure that by now most people active in the field have read my numerous posts in which I explained why we decided to go with the e-gold look and feel, so I won’t bore you repeating it.

    However, the difference between c-gold.com and others, apart from over-the counter-redemptions, and no fees for bailing and redemptions, are mainly that the gold is in secure private storage, and will always be kept in small denominations.
    Furthermore, c-gold.com is only half of the venture. The other half, the commerce gold network, are shop fronts, that will ultimately enable users accross the planet to fluently redeem bars and bail them in.
    Lastly, we are working an merchant index and more importantly, on a separate, mail-oder-type website that will allow all users to offer their respective goods and services to each other, while also incorporating a large classifieds area, free of charge to users.

    In other words, we want to foster trade and commerce, not sit around and rest on our laurels.

    As to the stats, today account #539 was opened, and there are 5.2 kilos of gold in storage now.

    Most importantly though, AnyGoldNow.com exchanges c-gold into all other currencies and vice-versa, GoldNow.st and LondonGoldExchange.com, Vertoro, and others are adding c-gold to their sites during this week.

    Apparently, c-gold.com is up and running.


  2. There is nothing about being bored, in this issue. Kindly share a link to the other places where you have explained where your site looks like that of e-gold Ltd.

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