• AUREALS™
Security

ICON utilises Hedera Hashgraph to achieve the gold standard for security in the field of distributed consensus: Asynchronous Byzantine Fault Tolerance (ABFT). Other platforms that use coordinators, leaders, or communication timeouts tend to be vulnerable to  Distributed Denial of Service (DDoS) attacks against those vulnerable areas. Hashgraph is resilient to these types of attacks against the consensus algorithm, and achieves the theoretical limits of security defined by ABFT. Achieving this level of security at a scale of hundreds of thousands of transactions per second is a fundamental advance in the field of distributed systems and it is the gold standard for security in this category.

Many applications require that the consensus order of transactions match the actual order in which the transactions are received by the network. It should not be possible for a single party to prevent the flow of transactions into the network, nor influence the order of transactions in the eventual community consensus. A fair consensus algorithm ensures that if a user can submit a transaction to the network at all, then the transaction will be received by the network and the order in which it was received will be a fair ordering. Hashgraph uniquely ensures that the actual order transactions are received by the community will be reflected in the consensus order. In other words, hashgraph ensures both Fair Access and Fair Ordering.

Formal proofs of the ABFT and fairness properties for the hashgraph consensus algorithm exist and have been available for public review since June, 2016. Furthermore, the hashgraph algorithm has been validated as ABFT by a math proof checked by computer using the Coq system in October, 2018.

Discretion

Creators and Custodians of Intergenerational wealth readily acknowledge that new statutes and regulations targeting their wealth ensures that Privacy and Compliance are top of mind. There are four states of Privacy including:

  1. Solitude ~ Establishing physical separation from other individuals;
  2. Intimacy ~ Inviting select individuals into trusted relationships;
  3. Anonymity ~ A desire to restrict information available in the public domain;
  4. Reserve ~ Protecting and Controlling access to your data and assets.

In 2010, as part of FATCA, US Congress enacted new disclosure requirements for specified foreign financial assets (“SFFAs”). The types of reportable assets include: direct holdings of stock in foreign entities, interests in foreign funds, depository accounts, custodial accounts, or interests in financial institutions.

In 2018, the CRS was adopted across the G20 requiring the name and identifying number of the reporting foreign financial institution (FFI) as well as the name and the account number, year end balance, address, tax identification number, date and place of birth of each reportable person.

Interestingly, Gold held in a custodial account maintained by an FFI (bank) would be considered reportable, however, Gold held in an independent vault or safety deposit box is exempt from declaration provided (i) the vault is not in an FFI (bank) or (ii) the storage arrangement is not a financial account.

ICON CAPITAL RESERVE SA is not an FFI.

Trust

Fibonacci’s Golden Mean is a mathematical formula that permeates the fractal design of our world from subatomic DNA structures the patterns of the stars in the universe. The Golden Mean is embedded in the architecture of our most iconic buildings from the Great Pyramids to Sydney’s Opera House. Since the dawn of humanity, Trusted Sacred Symbols found in places of worship have been generating carrier waves that are literally broadcasting information.

Trust can be traced to the neurobiological activity of our human brain. Our increasingly complex world slows decision making, so we use heuristic defaults like intuition and common sense to help the process. Gold has become the heuristic default for 6000 years because across geography, language, culture and economics, it is the numeraire that the entire world agrees on. Gold is Value.

The stock of Gold refers to the available c200,000MT mined throughout history and the flow refers to the c2,700MT mined annually. Mathematically, Gold has a stock and flow ratio of 1.35%. The stock of our Planet refers to the c7.45b inhabitants and the flow is a net 80m people added per year. Mathematically, Humanity has a stock and flow ratio of 1.20%. As people move up through Maslow’s Hierarchy of Needs, they create surpluses that are stored in a trusted reserve asset like Gold. Hall’s Law suggests that the stock and flow ratios of Gold and Humanity have been correlated for centuries and the ratios are immune to manipulation.

ICON CAPITAL RESERVE SA AUREALS™ & CINTAMANI™ on Hedera Dubai 2022

by | Aug 8, 2022 | Uncategorized | 0 comments

ICON CAPITAL RESERVE SA AUREALS™ & CINTAMANI™ LIVE on Hedera

Dubai, UAE – August 08, 2022 – ICON Capital Reserve SA (“ICON”) established in 2013 to empower Ultra High Net Worth (“UHNW”) individuals and family office private clients to create, trade and reserve value using gold and blockchain, has deployed AUREALS™ & CINTAMANI™ on the Hedera Hashgraph enterprise-grade public ledger. The platform is fast, fair, and secure and unlike most current blockchain-based platforms, doesn’t require proof of work.

Jordan Fried, Senior Vice President of Global Business Development for Hedera noted “When ICON CEO Brad reached out to us, he expressed that it had become apparent how important it is for their project to have the security, stability and robustness that Hedera provides. We are pleased that ICON has chosen to build their application on the Hedera platform, to receive the benefits of important features such as native multi-layer threshold keys which allows for m of n signatures for transactions at multiple levels which enables improved governance and security.”

J. Bradley Hall, Founder and CEO of ICON commented, “We at ICON have been active in the space since 2013, originally deploying AUREALS™, a 1-gram weight and measure of fully reserved, digital gold on the Colored Coin Protocol. Over time the protocol was governed by a sort of reverse Moore’s Law, offering settlement times that were taking longer and getting more expensive. AUREALS™ act like gold, based on a 6000-year-old legacy of trust, but updated with cutting edge encryption. With Hedera, we now have not only a perfect way to store value with AUREALS™, but also an ability to create improved velocity in payments.”

Fried added “This is an incredible time for Hedera as we now offer Open Access of our mainnet. It is exciting to work with disruptive companies like ICON, who seemingly have re-imagined what future gold-based money may look like and are dedicated to changing the way we create, trade and store value.”

In closing, Hall noted, “Gold is a trusted store of value with a 6000-year legacy. I think Ray Dalio founder of Bridgewater Associates put it best when he said, ‘Those who don’t own 10% in gold, there’s no sensible reason, other than you don’t know history, or you don’t know the economics of it.’ By building on Hedera, we can run our existing Ethereum-based smart contracts with minimal change, allowing ICON to provide innovative offerings like AUREALS™ to improve liquidity for gold on demand. We will continue to dedicate ourselves to persuading the smartest and most successful wealth creators to allocate that 10% of their portfolios to AUREALS™.”

About ICON:
ICON CAPITAL RESERVE SA was established in 2013 to empower UHNW individuals and Family Office Private Clients to create, trade and reserve value using gold and blockchain. ICON is built on a foundation of security, discretion and trust.The Company has fully invested in future-proof software and encryption to create AUREALS™, that insulates holders from currency, institutional and systemic hazard with all the insured gold that backs fully reserved AUREALS™ securely vaulted outside the banking system.ICON has established successful Private Client relationships in Europe, Asia, GCC, CIS and the Americas (excluding the USA) for several years. AUREALS™ were initially built with the Colored Coin Protocol and was subsequently updated to offer AUREALS™ (ERC20) and CINTAMANI™ (ERC721) as smart contracts on Ethereum.With a strategic shift to Hedera Hashgraph, ICON has also begun fundraising efforts to establish DLT leadership through a buy and build strategy built around AUREALS™ a fully gold reserved, digital clearing and global reserve currency.

J Bradley Hall – reservations@icon.gold | CEO

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