Saturday, October 13, 2007

C-gold Rejects similar e-gold Situation with DOJ

I asked one of their representatives at Goldage forums the question below: “Basically, you think c-gold can never be in e-gold's situation with the U.S. law now. Do you know of any way that U.S. law can meddle in c-gold's business like what is happening with e-gold?”

Quoted from the Chairman, C-gold representative at Goldage forums:

“If I was able to figure any other way anyone could meddle with us - even with streching the rules the way the DOJ seems to be doing with e-gold right now - then I would adjusted the business model to address that issue.

The company is registered in the Seychelles, gold is stored in Malaysia (a distributed storage concept is part and parcel of the expansion plans), customer support and admin is in Malaysia as well, development and platform maintenance is in Costa Rica, and srvers will ultimately be distributed over three offshore locations as well.
c-gold has no bank accounts, doesn't facilitate exchanges, has formal AML (Anti Money Laundering) and KYC (Know Your Client) policies, and while we actively negotiating with prospective franchisees for c-gold shop fronts in a number of countries, there will be no USA franchise for the foreseeable future (just hop to Canada if you want to redeem a bar, or get it shipped).

So no, there is nothing I could imagine anyone could do against Commerce Gold, as long as we stay clean.”

Basically, C-gold claim to have made itself impervious to what DOJ (Department of Justice) is doing to e-gold from the very start of its creation. Although I can not comment much on the similarities of how C-gold looks to e-gold as in the name & website feature. Nonetheless, it has been explained that the similarities are only skin deep & one should not have a biased outlook based on aesthetics alone. More about C-gold.

1 comment:

Mark Herpel said...

Yes, Robert is an a very sharp international businessman. No doubt C-gold will show us some strong growth and innovation in the years ahead. Much has been learned from the past e-gold decade and obvious improvements have been made to DGC businesses.

C-gold continues to impress us all.


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