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How does GOLD determine my cost to borrow money?

Or how much I can borrow?

GOLD looks at millions of data points to predict the probability you’ll pay back a loan.  Things such as where you are located, how long you’ve had your phone, how many contacts you have, social media, how much you wish to borrow, how you earn and spend your money, etc.  “The Brain” inside GOLD learns and adjusts dynamically based upon your actions getting smarter as it goes.

When I borrow from GOLD where does the money come from?

And how do I pay it back?

The money comes from a large pool funded by people just like you.  Anyone who wishes to invest in the pool may do so.  “The Brain” decides how much to lend, to whom and at what cost.  It knows some will default on their loans and adjusts for that in order to ensure a stable return for investors.

How do I pay back my loan?

Payments are automatically deducted from your wallet with in GOLD.  You just need to make sure the money is there when that happens.  Late payments impact your GOLD rating and are viewable by other GOLD members.  You’ll want to protect your reputation and ability to borrow money in the future by paying back loans on time.

Can others see whether or not I pay my loan?

Yes!  GOLD members may see how you pay back your loans and your GOLD rating.  This will incentivize borrowers to pay loans on time to avoid “social shame” and ensure ability for future borrowing.

How does GOLD use Bitcoin?

Bitcoin and other block chain technologies are the rails that GOLD runs on and at the core of this powerful new technology.  Loans are funded in bitcoin, but then immediately exchanged into the currency of your choice.  Money can be sent anywhere in the world while remaining secure and robust because of bitcoin.  Contracts between investors and borrowers are smart contracts that run on Etherium.   And “The Brain” is an Artificial Intelligence that runs on Иeureal.  These are all blockchain technologies that are at the core of what makes GOLD unique and exciting.

How does GOLD exchange into any currency for free?

GOLD will exchange from any currency to any currency for free.  The price of exchange is the average price between the bid and ask.  Bitcoin is the rails for transmitting money, but money can be held in any currency you choose.  GOLD charges NO fees for exchange nor payments.

How does GOLD enable businesses?

GOLD provides businesses with the tools to request payments, accept payments, pay employees and vendors, integrate with accounting software, borrow money for their business and pay back loans.  These tools will facilitate easy adoption of GOLD by merchants who wish to attract more customers.

GOLD has API’s that enable third party applications to be developed and for GOLD to be integrated with other technologies.