“Announced at FreedomFest 2014, which was held in Las Vegas, Nevada, the Independence Coin or INNCoin is the first open-source, gold-backed cryptocurrency. The currency was symbolically launched on July 4 by Anthem Vault’s technology team in collaboration with Vancouver-based Newnote Financial Corp. All of the coins will be backed by 100 grams (3.5 oz.) of gold that is stored at Anthem Vault. This alt-coin is also commonly referred to as a Micro Gold Coin (MGC). Anthem stated that it will launch 10 million INNCoins that will be backed by 100 grams of gold with all coins expected to be mined within the first year; all of he coins will be made available by July 2015.”
http://cointelegraph.com/news/112089/us-gold-dealer-launches-gold-backed-coin
Tip Freedomwat.ch Staff with Bitcoin