What are CannDollars?
Physical silver, in a digital wallet, operating on blockchain technology.
CannDollars are a digital currency.
By combining the best of historical stores of wealth and new blockchain technologies, CannDollar provides a secure store of value backed by silver, with the benefits of near instant transactions.
CannDollars are a ‘Digital Representation of Value’
CannDollars are issued as a cryptographic token on a blockchain and are individually secured by a physical silver.
Each CannDollar is backed by a one troy ounce physical silver with .9999 purity.
CannDollar holders own their silver
CannDollar provides transparent wealth preservation. The right to the silver backing each CannDollar token cannot be revoked.
The physical silver is held in secure vaults and regularly audited by a reputable third-party auditor.
CannDollars provide holders with purchasing power protection
Backed by silver, CannDollars are inherently hedged against inflation and offer protection against future economic crises.
CannDollars are transparent, verifiable and offer quick transactions
Blockchain technology guarantees transparency, security, third party verifiability, and fast transactions of any size.
Why are CannDollars backed with Silver?
Silver has been a reliable unit of value over the millennia. Various tokens have been used as payment methods to exchange goods and services. These tokens needed to be portable, easily kept, and an enduring store of value. They also needed to be fungible and divisible. Precious metals, typically in the form of coins and bars were considered the best tokens of exchange.
Over the long term, silver has been able to retain and increase its buying power; the best measurement of a store of value, as it has not been subject to inflationary pressures from government monetary policies. This has been especially true in more modern times. For example, on an inflation adjusted basis, the price of one ounce of silver in 1917 and today are nearly the same, around $17, as measured in 2017 dollars.
For over 5,000 years precious metals have consistently been the commodity of choice to fall back on when people sensed a potential loss of purchasing power.
Silver coins serve as a preservation of capital and are less volatile, making silver widely preferable as a store of wealth and as a safe haven currency.
Silver coins are easily tradeable, durable, transportable, divisible, fungible and are practical for day to day transactions.
Backing CannDollars tokens with 100% silver makes CannDollar more acceptable and easily adopted by the market due to its store of value.