Gold-Bits-Coin-White-Paper
                     GOLD BITS COIN
www.goldbitscoin.com | [email protected]
Executive Summary 3
What is Gold Bits Coin? 3
What are the Benefits? 3
Vesting 6
Decision 6
Executive Summary                                                                3 Utility (Discounts to retailers) 7
What is Gold Bits Coin?                                                          3
Executive Summary                                                                3
What are the Benefits?                                                          3 Utility (Others) 8 What is Gold Bits Coin?                                                          3
Vesting                                                                                      6 Around the World                                                                       9 What are the Benefits?                                                          3
Decision                                                                                    6 Vesting                                                                                      6
Utility (Discounts to retailers)                                               7 GBC Indonesia                                                                            10 Decision                                                                                    6
Utility (Others)                                                                         8 Utility (Discounts to retailers)                                               7
Around the World                                                                   9 GBC Licensing                                                                             11 Utility (Others)                                                                         8
GBC Indonesia                                                                        10 Around the World                                                                   9
Team                                                                                        11 Team                                                                                              12 GBC Indonesia                                                                        10
Team                                                                                        11
Gold Bits Coin:
Empowering and stabilizing the future economy.
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Executive Summary
 What is Gold Bits Coin? 
  The world today feels like it's becoming more disjointed and uncertain than ever. 
Financial shocks and geopolitical crises become ever more frequent, while 
simultaneously new technology such as the blockchain allows us to peer into a more 
prosperous and transparent future. With all these changes at play we feel that 
people, organizations and governments deserve a currency that hedges against this 
uncertainty. A currency that will have a reliable value in times of crisis and instability.
  This is our vision behind creating Gold Bits Coin. It is one that is shared by an 
increasing number of economists and financial experts who see the global benefits 
of a major currency.
  GBC has many utility features such as paying for goods and services on online 
shopping platforms and from merchants. GBC believes that the acceptance of 
crypto would only happen if it is possible to use crypto in the real world on a daily 
basis to purchase goods or services that you require. GBC wants to be the first step 
in the right direction for the crypto world. GBC wants to be the Modern Day Gold of 
this industry.
  One of the most exciting aspects of Gold Bits Coin is its potential usability as legal 
tender. We believe that cryptocurrencies and governments can not only co-exist 
together but can serve to empower and make the other better and more efficient. 
The implications of this are profound: the implementation of GBC as a recognised 
national currency would provide governments with increased international capital 
inflows and help eliminate the losses incurred by counterfeit currency.2   
What are the Benefits? 
  • Governmental Advantages 
  As aforementioned, the structure and stability of Gold Bits Coin lends itself towards 
potential adoption as legal tender for governments. Government adoption of digital 
currencies is something that is becoming more likely as the technology matures and 
reaches the mainstream5. From a governmental perspective this prospect has two 
clear advantages:
S ource: (https://goldsilver.com/blog/if-stock-market-crashes-what-happens-to-gold-and-silver/)
  1. See Saidi & Scacciavillani (https://www.difc.ae/files/9414/5500/9470/DIFC_Economic_Note13.pdf ).
  2. See Kenneth Rogoff (http://www.nber.org/chapters/c13431.pdf)
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  • Increased inflow of international capital. Digital currencies allow for 
transaction costs to be reduced, particularly if the currency is accepted in a wide 
range of places outside of a country's territory. In tourist destinations the ease of 
using digital currencies is likely to encourage tourists to spend more on average. 
This has been the experience in Thailand, where bitcoin payments by tourists have 
become increasingly popular in response to concern about credit card fraud in the 
country6. The increased acceptance of digital currencies will help boost the 
economy of the country in question, helping create jobs and increase the overall 
standard of living. 
  • Reduction of currency counterfeiting. One of the major problems with physical 
currency is that it opens up the possibility of counterfeiting. By adopting a digital 
currency, a government could near eliminate this problem and protect the integrity 
of its currency7.  
         With these advantages in  mind it is important to highlight the reasons why Gold Bits 
Coin is better suited for governments than other digital currencies. These 
advantages can be summarised as followed: 
  • G old Bits Coin is open to working with governments on the control of the 
currency. Many cryptocurrencies strongly oppose any government regulation or 
potential control over them. This has led to concern that unregulated digital 
currencies might decrease state control over tax revenues8. GBC however believes 
that digital currencies and government need not be adversaries. Instead, these two 
parties have shared interests and can work together. For a cryptocurrency, 
government backing will allow for mainstream adoption and approval of the 
currency.  
  • Gold Bits Coin already has an established value and proven demand. As of 
April 2018, GBC has thousands of token holders and a price of $0.50 USD. This is 
proof that consumers see value in the token. This makes it easier for a government 
to adopt and work alongside than the creation of a new digital currency that is highly 
likely to come with challenges, particularly in the initial release. A poorly planned 
release of a new digital currency may affect public perception and trust in the coin, 
potentially creating lasting damage to its potential to be adopted by the 
mainstream. This would not be the case with the adoption of Gold Bits Coin.
  6. https://news.bitcoin.com/bitcoin-adoption-thailand-tourism-industry-scaling-debate/
  7. https://insidebitcoins.com/news/why-governments-will-turn-to-digital-currency-and-what-it-means-for-bitcoin/27410
  8.  https://www.rand.org/content/dam/rand/pubs/conf_proceedings/CF300/CF371/RAND_CF371.pdf
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    How it works
GBC's formula for their tokens success is to change the concept of spending, 
instead of spending = loss we want to change it to spending = profit
Make Payment for Online Shopping
Make payments using credit card Make payments using GBC
Mr.'A' has $10 in credit card Mr.'A' has $10 in GBC price rose to 
buys a Chocolate for $2. $12 while sitting. Mr.'A' buys the 
Amount left $8 chocolate for $2. Amount left $10.
GBC Platform
Wallet:6.0
Investments
Inside the GBC platform and wallet, there will be a section for projects.  
Projects that fit the criteria set out are able to be voted for. This will 
enable the sustainability of GBC and ensure the coin is a leader in the 
future.
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Payments: 6.1
  GBC will be developing a protocol to shift the current ERC-20 token network to a hybrid/native 
version of the token. Ultimately, the GBC community will have the final decision about this 
potential shift. The advantage of this shift is that the cost of transactions on the GBC blockchain 
would be significantly reduced. Moving forward, GBC expects that the token will be accepted by 
merchants and e-commerce stores allowing token holders to use this on a daily basis.
Value Generation and Roles in the Network: 6.2
  Our vision is that the Gold Bits Coin community is active and regularly participates in decisions. 
Accordingly, members will be classified into tiers according to their activity and work completed by 
them. This will help generate different levels of returns and reward members who are more active 
and contribute more. The GBC Foundation will release a detailed list of all the different roles in the 
network and the responsibilities and requirements for each. These responsibilities will be unique 
to the tier status of members as will be explained below in the vesting section.                        
An example of this may look like the below:
            Copper:
  1. User agrees to put 80% of their GBC tokens in lock up for 3 months. 
  2. User receives a 10% upweight in voting for projects.
  3. User receives copper status perks, things like 5% discount at partner commerce sites.
  4. User receives access to VIP events with Copper perks.
  5. User votes on a proposal at least once every 3 months that they stay on Copper status. 
         6. User will receive gifts from the foundation at the copper tier.
 An example of this may look like the below:
       GBC had approached Crypto Launch pad for auditing and approval of our token structure and our 
token economics. Crypto Launch pad is a prestigious and recognized crypto auditing firm. Crypto 
Launch pad had given us approval after carefully reviewing our project. This ensures our token 
holders maximum trust and security
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Silver:
  1. User has completed Copper status meeting all the conditions for the 3 months.
          2. User agrees to put 80% of their GBC tokens in lock up for 1 year (the 3 months of the prior 
Copper level are counted in this).
  3. User receives a 50% upweight in voting for projects.
  4. User receives Silver status perks, things like 10% discount at partner commerce sites.
  5. User receives access to VIP events with Silver perks.
  6. User votes on a proposal at least twice every 3 months that they stay on Silver status.
  7. User will receive gifts from the foundation at the Silver tier.
Gold:
  1. User has completed Silver status, meeting all the conditions for the 1 year.
  2.U ser agrees to put 80% of their GBC tokens in lock up for 3 years (1 year of     Silver/Copper 
already counts.). 
  3.User receives a 100% up weight in voting for projects.
  4.User receives VIP Gold status perks, things like 20% discount at partner    commerce sites.
  5. User receives access to VIP Gold only events as well as VIP events with Gold perks.
  6. User votes on a proposal at least 3 times every 3 months that they stay on Gold status.
  7. User will receive gifts from the foundation at the Gold tier.
Utility (Discounts to retailers):
  As discussed in the vesting section, members in the network will receive discounts to merchants 
and e-commerce stores if they pay via GBC. The incentive structure for merchants is 
straightforward as they do not pay the percentage costs they would typically pay to payment 
providers such as Visa or Mastercard. As a result, they can pass their discount onto customers 
paying via GBC. Additionally, if many people pay via GBC and merchants adopt and store GBC, this 
could result in the value of the coin increasing, rather than the value of the stored coin 
depreciating, which is a benefit for merchants over time and will likely create a positive cycle of 
increased value.
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Utility (Others):
  The GBC Foundation, as an incentive to refer and bring more people into the GBC Community, 
will be creating a Reward System for GBC Users to promote the uptake of the GBC Token and 
increase overall liquidity.
  The way it would work is when a GBC User refers a person to come and buy GBC, as token of 
our gratitude we would be rewarding that GBC user with rewards such as GBC tokens,  Access 
to GBC VIP Events, Discount Coupons on Partnering E-commerce Platforms, Gifts and More.
Security
  One of the utmost priorities of GBC is security. In order to ensure the platform is secure, GBC’s 
infrastructure and smart contract code have been reviewed by some of the top security 
auditors and bug bounty hunters in the world. During the process, extensive penetration 
testing was performed which revealed a number of critical vulnerabilities in the GBC web 
application API as well as the Smart contract. The vulnerabilities included open API calls that 
allowed an attacker to access user accounts and reveal their internal data. The vulnerabilities in 
the smart contract included Integer overflows which allowed wallet balance manipulation. 
These tests proved fruitful and the fixing these errors allowed us to build greater confidence in 
our infrastructure and security. GBC at this point is a highly secure platform with the highest 
level of security testing having been completed. GBC’s infrastructure is compliant of the AIC 
triad which defines the basis of security. Overall, we have strict procedures and guidelines to 
which we have built GBC upon. 
Legal
  A Gold Bits Coin is a utility token by definition used to clear payments just like any digital asset 
currency. There are no restrictions to sell GBC to residents of any country, unless the law of the 
country prohibits citizens of that country to buy digital assets of any kind. By purchasing Gold 
Bits Coin, you agree that you are in compliance with your local laws on purchasing non-
sovereign currency and digital assets. You are also liable for ensuring you abide by your local 
tax and compliance obligations on the gains and uses of GBC.
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GBC Around The World 
America (Delaware) China
Estonia (Europe) India
Senegal Indonesia
Equatorial Guinea Australia
Botswana New Zealand
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     GBC Indonesia 
Gold Bits Coin (GBC) has been approved as a Crypto Company by the Government 
of Indonesia.  GBC holds three licenses for use in Indonesia (a) Crypto Currency 
License (b) Crypto Exchange License (c) Payment Gateway License.
GBC is a joint venture partner with 18 companies and is licensed through them in 
a range of sectors including Fintech.
Indonesia is yet to explore the crypto world and GBC will start the trend in 
Indonesia thus starting a Crypto Revolution.
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GBC Licensing
Gold Bits Coin License from Estonia.
                                                          Register of Economic Activities
Name of entrepreneur                       Gold Bits Coin OU
Registry code                                    14631454
Website                                               www.goldbitscoin.com 
Operating licence
Subject field, area of activity          Financial Services, Providing a virtual currency 
                                                              wallet service 
Number                                                FRK000738
Start of validity                                    09.05.2019
Issuer of licence:                               Politsei- ja Piirialveamet                                    
places of business
Web address of the register            mtr.mkm.ee
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MEET THE TEAM
Executive Board
ALI MOHAMMED     STEVE MACDONALDZIAHUL ASRAF
          Chief Executive       Fund Manager And Investment 
Marketing Director
Officer & Co Founder (CEO)                         Specialist
TONY DENNISON BEVAN MAILMAN SABITH MOHAMMED
(Chief Operations Officer) Legal Advisor      Chief Technology Officer 
                      (CTO)
Team / Consultant / Advisor
MUBASHIR MOHAMMED PAUL OREBIYISAM GOUDA HINE
  Platina Wealth CEO    PHD, Economic          Compliance           Customer
        (consultant) Analysis And Policy Responsible Manager Relationship Manager
  Studies Network
ARIELLE SARAH   JESSICA
Marketing Specialist Marketing Specialist Marketing Specialist AMIN RAHMAN
Social Media Freak
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www.goldbitscoin.com | [email protected]