Post
Topic
Board Announcements (Altcoins)
Re: [Moderated] [ANN][URO] A Real Long Term Currency: 1 Uro = 1 Metric Tonne Urea
by
cryptodevil
on 15/07/2014, 16:50:45 UTC
this looks even more scammier why would a big company like ges announce something like that on twitter. have they made a similar announcement before about a shipment. suspicious if you ak me

Because GES is not a 'big company' in the classic sense, it is primarily some well connected people, such as Nilesh Nair, who can shake hands and do the deals to get a bunch of traders and suppliers in India to agree to commit to using URO as a payment method for the next ten years. It is experimental but, as I said, the risk is actually a lot smaller once the market accepts that there is a proven agreement whereby 1URO will equate to 1 metric tonne of UREA.

This is not currency, this is commodity. Completely different rules apply.

Many raw material manufacturers, suppliers and customers would benefit hugely from utilising p2p crptocurrencies to trade with due to the, often, third-world nature of the banking systems they are usually constrained by.

You will need to take your head-space out of the First-world mentality of expecting glossy web-presence and marketing and understanding that the developing world does deals face-to-face with people who are connected to other people. It is the banks that leech of them and add so much more in real cost to the deal.