The Choice is Yours!
U.S. Silver Dollar OR Federal Reserve Note Dollar?
Stored Energy OR Energy Owed?
Metal Currency OR Debt Currency?
Limited by Nature OR Created to Infinity?
Federal Reserve Note Dollar
King Dollars and King Cryptos will manifest as certificates on the EOSIO DPoS blockchain.
As fiduciary for the King Dollar Trust and Silveren Trust, King Dollar Money Limited will be responsible for the management and accounting of the certicates under the King Dollar EOS account to ensure every King Dollar and King Crypto certificate is redeemable in the appropriate amount of U.S. Mint Silver Dollars and cryptocurrency.
Any user who acquires a King Dollar certificate will NOT be responsible for the vaulting or insurance cost of the underlying coins. To cover this incremental cost required to safely store Silver Eagles, King Dollar Money Limited has derived a number of future funding sources ensuring the ability to maintain the trust of the King Dollar user base.
The reason King Dollar Money Limited chose U.S. Mint Silver 1 ounce coins is simple: utility, consumption and stored energy.
Given the digital age we entered in the 1960's, the tech industry began to consume silver at an increasing rate. This created a new utility for silver and a deflationary power not yet realized as silver mined though centuries was consumed in electronics, photography and health. This new demand is a pivotal reason silver was withdrawn from dimes and half dollars after John F. Kennedy was killed.
“If we had not done so, we would have risked chronic coin shortages in the very near future.” President Lyndon Johnson commented before Congress just prior to his signing the Coinage Act of 1965, the law which fundamentally changed the composition of America’s coinage. The new Act set the stage for the complete abandonment of the use of silver for U.S. legal tender coins – the custom which Americans had been used to since the original Coinage Act of 1792, signed by President Washington.
Kind Dollar Redemption
In order to redeem a King Dollar certificate for delivery of the underlying Legal Tender, King Dollar Money Limited will require:
1. The user to become a member of the United Precious Metals Association
2. King Dollar certificates sent to a smart contract to ensure data integrity and eliminate double spending
3. An independent Escrow agent to verify data integrity
4. Once verified and approved, the King Dollar Trust will transfer from their UPMA account the exact number of King Dollars to the user's UPMA account.
5. Once UPMA confirms transaction, the smart contract holding the King Dollars will burn those certificates as they no longer represent circulating King Dollars backed by Legal Tender Dollars of Silver.