A patent application has been lodged over the system described on this page, and Aurecoin asserts its intellectual property rights as the exclusive licensee of the system.

Security
The integrity of the coins is maintained firstly through the register, which ensures that only one coin can legitimately circulate with a given serial number and digital signature, and verifies that the payer is the current registered owner of the coin. It also records permanently the amount of precious metal which the coin contained on issue, allowing users to easily verify the backing of the coin.

Because each coin carries an RFID/NFC chip which can create a digital signature, the payee can quickly check it against the public key of the same coin, helping to authenticate the coin.

Furthermore, each coin will be constructed using the latest security technologies. Although the specifics of that security will only be decided when the coins are professionally designed, we expect that the RFID chip and precious metal will be contained within clear polymer, with the best available security features embedded in the polymer to prevent debasement by removal of the precious metal content and to make any tampering evident.

Privacy
At Aurecoin, we believe strongly in privacy. To protect users' privacy, the personal information of the user will be obscured through use of public keys, and the privacy techniques used by other cryptocurrencies will be examined for suitability for use on Aurecoin as part of development. Furthermore, once we are able we intend to offer a private register option which uses the system described above but in which the register is held privately by Aurecoin and users only see confirmation that the payer is the current registered owner of the coin. All of the coin issue information would be on the public register, and coins would be able to be freely transacted between users on the private and public registers.

Our Vision
Our vision is for Aurecoin to be the best money available, bar none. We hope to see it accepted globally on that basis.

Although Aurecoin intends to issue the coins initially, over the long run we hope to partner with banks worldwide so that they can issue the coins while Aurecoin maintains the integrity of the system.

(If you have any questions about Aurecoin, you can email Aurecoin Pty Ltd at aurecoin@outlook.com).

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