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Dec 24, 2015 11:16 AM ET

Archived: Geek Money Virtual Currency: We need your support to get this virtual currency approved in US

iCrowdNewswire - Dec 24, 2015

Geek Money Virtual Currency



Geek Money is a virtual currency. The App is ready (watch the video!), but it must be in compliance with Apple’s gideline 11.17: “Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions.” We need lawyers for that! Please, note that it can be tough. Would you like to take the risk with me?

What makes this app so unique

  • Geek Money is virtual money, also known as virtual currency.
  • According to European Banking Authority, virtual currency is “a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency, but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically”.
  • Geek Money is an idea that eventually may become a virtual currency. For that, it must accept as a virtual currency and it must be in compliance with all state and federal laws for the territories in which GeekMoney exists.
  • Geek Money has a fixed exchange rate to US Dollar, Gk$ 1.00 = US$ 1.00. Your balance is constantly adjusted by a factor of 1.00006/day, equivalent to an inflation of 2.2% by year, approximately the mean for the last 10 years in US. This mechanism preserves the purchasing power of Gk$ relative to US$. Another relevance issue is that Geek Money will be primarily distributed equally among iCloud users, GK$ 1,000.00 for each, up to 5,000,000 users. There will be no more emission after that, except the mentioned balance actualization. New users will have a zero balance account.
  • Security: it is on iCloud environment.
  • Portability: it is accessed from your iPhone.
  • Stability: it is pegged to US Dollar. It is limited.
  • Saleability: the initial distribution of wealth (Gk$ 1,000.00 for each user) seeks equality and wideness.
  • Simplicity and Transparency: it has simple rules.

Why we need your support

  • Approve this virtual currency in US
Contact Information:

Geek Money

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