(Q) What do you feel are the two biggest advantages of using GoldMoney? Why would someone use it for online retail sales of a product?
The two biggest advantages are
1) our exceptional governance, which provides our customers with the assurances of integrity that their metal is safe
2) our website is easy to use and informative
Online retailers may choose GoldMoney for several reasons, but perhaps most importantly, are its low-cost and certainty of payment.
(Q) Clearly, GoldMoney is such a successful business it could be operated from almost any country in the world, why did you opt for its current jurisdiction and how is that better for your client's safety?
We believe that money should be a neutral tool in commerce. In other words, it should not be subject to political and other influences. Also, we want to operate in a country where there is a strong respect for the rule of law, and further, that the legal system is based upon traditional Anglo-Saxon common law because it is based upon property rights. The Channel Islands -- which are located in the English Channel -- meet these requirements, which explains why it is one of the world's largest financial centers. I understand that over $1 trillion of assets are managed there.
(Q) Do you feel that GoldMoney is a great way to transact business on the Internet given its advantages over credit cards or other currently popular means of e-commerce?
Yes, without any doubt. Also, given that the Internet is global, why should any national currencies be used? The Internet needs its own, global currency, and gold is perfectly suited for that role. After all, that is the history of gold -- it is international money accepted throughout the world. The same thing cannot be said for many national currencies.
(Q) I was reading an article this week when preparing to write these questions. The article praised GoldMoney and the use of digital gold currency but to my surprise, around the last sentence in the article, it said something to the effect that GoldMoney was very popular way to purchase gold online but had not picked up many retail merchants in the past years. Do you feel that it’s important to the growth of GoldMoney to expand your operations to include more business and personal retail users? Are you making any extra efforts to attract this commercial market or are you happy growing as a successful online 'saving' model and secure place to accumulate wealth?
We are happy with our progress in all respects. Most people see gold as a place to save money, so it is not too surprising that most people use GoldMoney as a place to accumulate wealth. But it is still early days. As people begin to learn and understand the benefits of digital gold currency (DGC), they are beginning to use it. It's like anything else new -- adoption takes time. But adoption is happening because DGC offers many benefits, particularly its low cost compared to less efficient payment mechanisms like credit cards and bank wires.
(Q) In today's Web 2.0 world, online discussion and socializing seems to be a very good way to interact with the public and gain new quality customers. I subscribe to the GoldMoney email list and read your Alerts, but why isn't there a GoldMoney blog or forum discussion area?
We tried that in our early days, with mixed results. We found that if a customer has a question, for example, they prefer to deal with it privately through our customer support team.
(Q) We know you are bullish on Gold, but GoldMoney recently started offering digital Silver - my second favorite metal. Where do you see the digital silver part of your business going in the next 24 months? Why?
Silver is indeed an important part of our business and will remain so. Our customers who own silver get the same governance and other protections they also get with gold. The only difference is that silver cannot be used to make payments, at least not yet anyway. That new feature may be added in the future.
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