Why Quri?

We believe we are at an inflection point in the evolution of our monetary system. As the Blockchain’s global distributed ledger offers clear advantages over centralized record keeping, Blockchain technology has exposed a need to the general public while tearing down centuries old established banking practices. Blockchain is poised to change how people and businesses conduct and operate their businesses. One of the main beneficiaries of the blockchain phenomena is digital currencies or cryptocoin.

While the adoption of cryptocoin in the global monetary system has been negligible to date, tier one banks and financial institutions have been allocating funds to building their own blockchain solutions. In some cases, consortiums of financial institutions have been combining resources to construct their own bank-to- bank internal blockchain clearing systems.

We think it’s unlikely that the cryptocoins will become mainstream currencies short term, however, we believe that in the mid to long-term, it will become more of a common occurrence to see crypto alternatives alongside other payment options like traditional credit card solutions or online solutions like PayPal.

Nevertheless, it is becoming obvious that the current cryptocoins have flaws – they have yet to weather any serious crisis, have no intrinsic value and the usefulness appears to be primarily in assisting grey and black-market players move funds from one jurisdiction to another.

Cryptocurrency must evolve to survive. We believe the next stage in this evolution will be a move towards an asset backed token, either directly backed with assets or indirectly through a blockchain industry ecosystem.

What we propose is a hybrid of bankable hard assets and a NPV (Net Present Value) of deliverable assets, bought at a discount. We believe the hybrid model can be a benefit to all stakeholders while providing value, security and transparency to our token holder community. We believe this can result in a pure gold exposure through this combination of bullion holdings and a high-quality portfolio of deliverable gold.

Additionally, we believe that the gold industry is ready for change and QuriGold can offer a financing alternative. By purchasing future gold delivery from the gold companies nearing production, we can reduce the financing burden and dilutive aspect of the ir production goals. What we propose to the mining producer, through QuriGold, is access to this global capital conduit of the cryptocoin community ecosystem. We believe this can be a much cheaper and less invasive route to capital that is needed to advance gold companies to production.

We envision that QuriGold can offer two main benefits:

Token holders can have security, transparency and identifiable value

Gold industry has a new financing alternative

Our token will hold initially 20% gold bullion residing in a fully auditable location, 55% in gold delivery contracts and the remainder set aside for marketing, legal, storage costs and administration. However, over time, as the gold is delivered, the bullion percentage will increase. To track the intrinsic value of the gold and NPV of deliverable gold, we propose the concept of Quri Holder Value. Quri Holder Value (QHV) is the very core of our value proposition of transparency and auditable value. QHV is calculated in real- time and is based on the combination of the market price of gold, the amount of gold owned by the token, and the net present value of the gold contracts deliverable at maturity. As a token holder, you can view the CHV in real-time and observe over time that as the gold delivery contract gets closer to delivery, the net present value of the gold contract should migrate closer to the market price of gold bullion.

The gold bullion portion will be purchased through normal financial channels at market prices, while the future gold delivery contracts will be negotiated by QuriSolutions directly with gold producers. We expect this process should result in a fair price for the future gold production that covers the producer’s production costs yet offers significant discount to the market price. We believe this model can provide a tangible benefit to both token holders looking for value and transparency and gold producers looking for non-traditional routes of financing their production without bearing the costs associated with traditional financing channels, such as streaming arrangements.

Lastly, our token infrastructure backbone will employ Ethereum as the Next-Generation Smart Contract and decentralized application platform. We chose to utilize this platform as it fulfills the functionality and complexity needs for this project such as: quicker block time, smaller blocks, smart contract ability, and a developer community actively improving the platform with a vision to create a censorship-resistant self-sustaining decentralized world computer that can perform calculations, store data, and allow communications.