TORONTO--(BUSINESS WIRE)--Oct 7, 2021--
Goldmoney Inc. (TSX:XAU) (US:XAUMF) (“Goldmoney” or the “Company”), a precious metal financial service and technology company, is pleased to announce that its subsidiary company Totenpass Inc. has today launched its digital storage drive solution in beta.
Totenpass Inc., based in Rochester New York, has been developing a permanent digital storage drive constructed from solid gold that requires no energy and has no movable parts. Digital data is written onto the drive by way of a proprietary light-diffraction process which imprints images, documents, and other files that can be stored as either human readable without the aid of computers or machine-readable with the employ of a smartphone.
This technology allows for the permanent storage of precious digital data, thereby eliminating any future dependence on the internet and the vast amounts of energy required presently to store content. By consequence, this technology will empower both individuals and corporations to decentralize, preserve and fully control their precious digital data once and forever.
The company was founded by Goldmoney CEO Roy Sebag, Bruce Ha, the former director of optical media at Kodak, and Goldmoney CTO Alessandro Premoli. Goldmoney has made a series of investments in the company since 2017 and currently owns a majority of the outstanding shares.
The Totenpass is being initially launched in two sizes which retail for $50 and $75 USD respectively. The company offers global shipping and accepts payment via credit card or cryptocurrency.
Totenpass White paper
A 22 page white paper has been published providing further information about the technology: https://www.totenpass.com/pdf/Totenpass-Whitepaper-January-2021.pdf
Totenpass Referral Program
The company is launching a generous referral program which is built on bitcoin. Referrers are given a unique referral link that provides their friends and family with reduced shipping while earning the referrer $20 in bitcoin for each purchase made with the referral link. To learn more about the Totenpass referral program visit: https://www.totenpass.com/referral
Statement from Roy Sebag, Chairman and Chief Executive Officer:
Today, through our subsidiary company Totenpass, Goldmoney embarks on a new journey to disrupt the digital storage market. Over the past four years, Goldmoney has been inspired to expand our business activity beyond the custody and storage of savings, seeking to empower users to have autonomous and permanent custody of their precious digital information through the unique medium of gold. More so than any of our past ventures, Totenpass exemplifies the interdisciplinary nature of the group and our willingness to take risks, disrupt and compete with existing industries. Totenpass was born of a simple and yet ancient idea: to indelibly inscribe information upon precious metals in order to preserve them for future generations. We married this historic, cultural tradition to brand new technology in order to extract digital files (stored as binary code) from the omnipresent Cloud and embody them in physical gold. We learned about cutting-edge material science and light refraction technology. We then developed a team of leading experts in their fields who researched and developed a ground-breaking solution to the problem of digital storage. This has been an extraordinary feat which may very well be remembered as the greatest contribution that our group has made yet.
The vision and goal of Totenpass has now been achieved: users can save their precious digital files offline and retain true ownership of their data once and forever. While improvements and developments may still be made, we have decided to launch in Beta mode so that users can experience Totenpass for themselves. I personally believe that this initial use case will sufficiently serve as the foundation to build an original, exciting business with great potential for year-over-year revenue growth and profitability. We now must wait and see whether consumers agree.
I would like to thank Bruce Ha, Alessandro Premoli and the team led by Carmelo Chiarenza for their outstanding work in bringing this technology to life. I would also like to thank our patient shareholders who have expressed their personal desire to see Totenpass launched as soon as possible. We will begin to update investors on the progress of Totenpass in our quarterly financial results and other communications.
About Goldmoney Inc.
Goldmoney Inc. (TSX: XAU) is a precious metal focused global business. Through its ownership of various operating subsidiaries, the company is engaged in precious metal sales to its clients, including arranging delivery and storage of precious metals for its clients, coin retailing, and lending. Goldmoney clients located in over 150 countries hold nearly $2.5 billion in precious metal assets. The company’s operating subsidiaries include: Goldmoney.com, SchiffGold.com and Goldmoney Lend & Borrow. In addition to the Company’s principal business segments, the Company holds significant equity interests in Menē Inc., which crafts pure 24-karat gold and platinum investment jewelry that is sold by gram weight and Totenpass Inc. which has developed a permanent digital storage drive constructed of solid gold. Through these businesses and other investment activities, Goldmoney gains long-term exposure to precious metals. For more information about Goldmoney, visit goldmoney.com.
This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “may”, “potential” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Goldmoney Inc. believes, expects or anticipates will or may occur in the future, is forward-looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this release speak only as of the date hereof.
Forward-looking information in this release includes, but is not limited to, statements with respect to: service times for transactions on the Goldmoney network; growth of the Company’s business, expected results of operations, and the market for the Company’s products and services and competitive conditions. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company’s operating history; history of operating losses; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company’s common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company’s operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company’s ability to manage rapid growth; competition; the ability to identify opportunities for growth internally and through acquisitions and strategic relationships on terms which are economic or at all; effectiveness of the Company’s risk management and internal controls; use of the Company’s services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; and those risks set out in the Company’s most recently filed annual information form, available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211007005215/en/
CONTACT: Media and Investor Relations inquiries:Renee Wei
Director of Global Communications
KEYWORD: UNITED STATES NORTH AMERICA CANADA
INDUSTRY KEYWORD: DATA MANAGEMENT OTHER RETAIL TECHNOLOGY PROFESSIONAL SERVICES SPECIALTY MINING/MINERALS OTHER TECHNOLOGY NATURAL RESOURCES RETAIL SOFTWARE FINANCE
SOURCE: Goldmoney Inc.
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PUB: 10/07/2021 07:30 AM/DISC: 10/07/2021 07:32 AM