Auresco is based on the understanding that cryptocurrencies can only become useful as currencies, when they function properly as a store of value. The most simple answer to this question is representative money, where the value of money is a representation of some commodity, historically, a representation of precious metals.
Cryptocurrencies are not only monetary unions, but also fiscal and political unions. They are currencies that have rudimentary fiscal policies embedded in their code in the form of synthetic scarcity protocols, such as limited monetary supply, difficulty, halving and reward distribution, and for this reason require shared consensus mechanisms. Because the shared consensus mechanisms are done on the principles of competition, the profits produced can only centralize. Xaurum makes the monetary policies into policies of cooperation, and by storing the value required to produce new money supply instead of destroying it, succeeds in decentralization of profits. Because it uses physical gold for its store of value, it requires some centralization in organization, this type of centralization, however, is in our opinion much less insidious and much less systematic than the centralization of profits, and we gladly sacrifice the former to prevent the latter.
We see great potential for Xaurum to become a storage of value and thus becomes viable as a currency, once the critical threshold is achieved. When the profits from transaction fees sufficiently increase, the price will become a function of adoption. Xaurum’s creation, will be as volatile and speculative as that of the other cryptocurrencies, but with the price of gold serving as an ever-increasing price floor, preventing extreme devaluation. Auresco believes, that Xaurum is the next step for cryptocurrencies, its dance is the dance of history: two steps forward, one step back. It connects and combines the new world of crypto technology with the old world of gold investment, to enrich both and produce a better, golden crypto future.