GLOB is the first cryptocurrency that multiplies itself within a year with every transaction in an easy, immutable and transparent way via the implementation of the revolutionary Proof of Transaction protocol.
GLOB aims at removing the gap between the rich and the poor and making every project in the world profitable. Now, this sounds like a true promise of disrupting the predatory economic system controlled by the 1%. Read below to find out all the details.
When we think of the idea of money making more money, the first thing that comes to mind is the traditional way of “putting money to work” via the banking industry, or Ponzi schemes, neither of which is sustainable or ethical. Would you like your money to multiply itself? Wouldn’t it be nice to send a 100$ and receive a guaranteed 100% cashback, while the recipient also receives the amount sent? If you think it is impossible, think again. This new altcoin will make you revisit everything you know about how the money - and cryptocurrency - works. GLOB’s main principles are the breakeven of mutual settlements, inability to use assets for speculative purposes, elimination of financial risks and absence of debt obligations.
Sounds exciting? Many cryptos have promised to change the world, eliminate poverty and make money fair again, but let’s be honest: most, if not all, cryptos have ended up being used by the same “whales” for speculative purposes, while the smaller fish either gets breadcrumbs from the “master’s table” or is eaten in the process, left with nothing but losses. Is there are a way to change the situation and make sure that every transaction and all investments become profitable? Yes, there is, and this is not utopia. The developers of GLOB have a sustainable solution.
GLOB’s Proof of Transaction protocol entails conducting a reserve transaction that would mine GLOB cryptocurrency for 365 days from the date of the transaction. According to the mining outcome, the sender receives a 100% cashback of the amount sent, and the recipient receives a 100% reward of the amount received. 20% of the transaction amount is withdrawn as payment for mining and to limit emissions, and can subsequently be destroyed or transferred to the Charity Fund of the Reserve System or to the Project Development Fund at the discretion of the transaction initiator.
What is GLOB and why is it important?
- The creators of the new ERC-20 altcoin called GLOB want to revolutionalize the way the money works and remove all the speculators, intermediaries and any powers that tackle the financial system for their own benefit with little consideration of the majority. They believe that the emission of money must be controlled by the end-users, like you and me.
- This open-source immutable blockchain digital asset built on Ethereum utilizes the revolutionary decentralized emission protocol called Proof Of Transaction and is not controlled by any centralized authority or group. Proof of Transaction (PoT) is implemented by means of a smart contract, according to which a transaction registered in the system by a reserve fund (user) is the basis for the emission (mining) of GLOB cryptocurrency. The withdrawal of a fixed percentage of the transaction amount to cover mining costs and the creation of a reserve transaction for the distribution of created assets are both mandatory conditions.
- The main aim is for the global economy to steer clear of the predatory practices of the current financial elites. The economy needs to be able to freely recover and grow at an unprecedented pace. Regular people would be able to manage profitability after the complete elimination of the main limiting factors and fractions.
- The decision of the ecosystem will be taken based on the consensus of large groups of users, a “middle class” of sorts, rather than small groups of corrupt elites. That is, there will be a kind of conflict-free change in the economic system. The free global technocratic capitalism must replace the toxic imperialism
How does GLOB work?
According to the GLOB whitepaper, “the emission of decentralized digital assets is at the core of the new economic system of GLOB and solves the current issues of the existing economic model with no conflict of interest between regulatory bodies or the main players.
The Global Reserve System is a network of private reserve funds connected by partnerships that conduct settlements using the GLOB cryptocurrency under alternative economic conditions.
During a transaction, the system’s smart contract conducts a decentralized emission of GLOB cryptocurrency, distributed in favor of the parties involved over 365 days. Senders receive a 100% return on the amounts sent, and recipients receive a 100% reward on the amounts received.
The senders never lose their assets, and recipients are guaranteed additional income. This is how the break-even nature of mutual settlements, the compensation of any expenses and the fair distribution of funds are implemented by GLOB. The system is fully operational, the smart contract source code is open, verified and published on the Etherscan website”.
Sounds like the times of the truly decentralized digital economy are upon us. The project is able to solve numerous problems of the modern economy, increase consumer demand and stimulate the real sector of the economy. However, this will not be achieved at the expense of increasing the debt of the population or by way of softening policies with zero/negative interest rates ultimately leading us to a catastrophic crisis, but due to decentralized emissions and fair distribution of digital financial assets. The project also brings good news for banks and businesses of other nature: the bad loans and investments will be gone forever, while the businesses may avoid financial risks. Businesses around the world will stop being organizations whose goal is to with the sole goal of making a profit and will be able to concentrate on creating material or cultural goods.
The system will solve the problems of long-term financing of infrastructure projects as well as scientific and social initiatives, as well as ecological issues. The social inequality will be removed together with the drastic developmental differences between the rich and the poor, and not just people, but entire countries and global regions. The ownership of land and real estate will be re-evaluated due to the active growth of infrastructure and every project will become profitable!