The HelloGold Foundation (HGF) is an organisation that has been set up by HelloGold with two primary objectives:
Accelerate the use of blockchain technology for use by the mass market
Expand the availability of products that help the underserved and unbanked in emerging markets to have better and more affordable access to simple financial products beyond cash; i.e. providing the ability to diversify savings and better preserve wealth
HGF will raise funds to provide grants to support its objectives via Token Sales of crypto tokens. HGF's role will include:
Structuring and running of the Token Sale process to raise funds for distribution to appropriate organisations
Creation, management, maintenance and operation of tokens sold during Token Sale, and tokens rewarding supporters
The distribution of grants to appropriate organisations which support the Foundations' objectives outlined above
Deciding on the distribution of any reward to supporters of the Token Sale, including publishing supporting materials as required
HelloGold is developing an application using blockchain for the mass market, where end users benefit from the application of the technology without needing in-depth knowledge of the underlying technology. In the long term, customers will be provided the option of converting their vaulted gold to a digital gold token (GBT). This will enable customers to use the stored gold as value beyond the HelloGold System. Once the digital gold tokens (GBT) are successfully traded on exchanges, the tokens will be available for purchase. This will create a stable cryptocurrency fully backed by physical investment grade gold.
Further information on how HelloGold will deploy funds provided by a grant from HGF is available in the Technical Whitepaper.