BIG is busy finalising the acquisition of a minority interest in FreePay which is launching a 100% gold-backed digital currency and owns the technology, payments and trading platforms on which it will operate. FreePay is a significant shareholder in both the Middelvlei and ERPM Gold Mines. Production from mines will ensure the supply of physical gold to back the FreePay digital currency.
Development of a 100% physical gold-backed digital currency augmented with a global payment system, focused on a return of the gold standard and use of gold as a medium of exchange.
The payment network will utilise blockchain technology to ensure safe, secure and seamless payments utilising gold as a currency.
This project is being developed in conjunction with Crowd Machine, a global software implementation platform that focuses on the deployment of technology and blockchain.