What is e-Gold ?

E-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage. E-gold is integrated into an account based payment system that empowers people to use gold as money. Specifically, the e-gold payment system enables people to Spend specified weights of gold to other e-gold accounts. Only the ownership changes - the gold in the treasury grade vault stays put. E-gold is always as good as the gold it's backed with - this year, next year, a thousand years from now.The world wide web needs world wide money. e-gold was created in response to this need. E-goldis accounted by weight of metal, not US$ or any other national currency unit. Weight units have a precise, invariable, internationally recognized definition. Additionally, precious metals, gold in particular, enjoy a long history of monetary use around the world. Thus, e-gold is ideally suited for international transactions.