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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