As DXSynergy mentioned a while ago, Federal Gold, the worlds first government backed E-Currency payment system based in Vanuatu has gone live: www.federal-gold.com As DXSynergy have provided all the software and are providing all the security for Federal Gold in order to create an account you need to register and hold a DXProfile with DXSynergy which can be done here: http://synergy.dxsynergy.dxfocus.com It is free and only takes a few minutes. Should be interesting to see how well it does. It certainly has all of the required payment features.
More Information About Federal Gold Opening a Federal Gold account is free. It only takes a few minutes to fill in the registration form and from there you will have access to a very important online tool. Simply click the register link and you will be directed to the registration page where you will be able to fill in your details. All information is immediately secured in a central security system and not passed on to other parties. How secure are your details? In line with current requirements forms of identification will be needed to have full access to a Federal Gold account all of which helps safe guard all account holders in the modern environment. With Federal Gold our high level of security doesn't stop with providing the safe guard for your identification and account access it also provides ways to send payments between "buyers and sellers" without needing to give bank or credit card details online. What can a Federal Gold account be used for? A Federal Gold account has the benefit of being a world wide form of payment for anyone needing to send money securely to someone somewhere in the world. With the added security feature of no charge backs or reversible payments there is peace of mind knowing that both the sender and the receiver can use an "escrow" feature option that holds funds between the sender and receiver until both parties are satisfied. This is ideal for auction payments where the money is requested before the product is sent. A seller can add a great confidence boost to the buyer by sending a request to use the "escrow" option when paying for the item. Ever needed to request money from someone but didn't quite know how to ask? Why not use "Pay Caddy"? A professional way to send a request to a customer or someone that owes you money. How to fund a Federal Gold account. An account can be funded using a bank transfer or by having funds sent from another Federal Gold account. By using direct funding from your bank account this avoids the possibility of charge backs and reversed transfer that often follow when using credit cards. Funding a Federal Gold account from a bank account also allows withdrawals to be sent directly to a bank account. Confidence and flexibility is what Federal Gold will strive to achieve for you and once you open and begin to use the feature tools you will see why Federal Gold is the right choice for your online payment service. Safe Payments. There are ways to provide a safe and secure online payment between two parties in today's high technology world. Whether it's the sender or the receiver of funds both parties should have equal security with monies credited or debited from their account. Federal Gold has applied a high level of security and offers features to ensure that sending money is safe and that both sender and receiver have satisfaction. * Identification of account holders (KYC) * No charge backs and non-reversible transfers * Anti Money Laundering Policy (AML) * High level of account access. * Escrow payment option. To ensure that any updates or transfers to and from a Federal Gold account are known to you as an account holder there are emails sent to the registered email address notifying of each action. Escrow Payments How does an "escrow" payment work? When there is a deal made to send money to someone for a purchase or maybe you are the winning bid on an auction, the next step is to send a payment to the seller. A seller can send a request to the buyer using "Pay Caddy" that provides all the details of where to send the transfer and "Pay Caddy" can have the "Collect" escrow option set so the buyer can see how genuine the seller is. By using the "Collect" option it means that the transfer is sent from the buyer's Federal Gold account and remains pending between the two accounts until the seller is notified of the transfer and that the transfer can be "Claimed". When the claim has been made the buyer is also notified and this now means that neither buyer or seller can gain access to the money until both are satisfied. The seller is now able to send the product to the shipping address of the buyer who is also notified that the product is on its way using a recognised courier service. When the product is received by the buyer it can be inspected to see if the product is what was ordered and if it's to the satisfaction of the buyer the pending transfer is then "Released" to the seller. If the buyer is not satisfied the payment is not released and either the buyer informs the seller about the issue and a return of the product or replacement may be arranged. The pending transfer can then be released after both parties have reached an agreement or the funds are returned to the buyer's Federal Gold account. Subscription Payments If you have a business or a need to receive regular payments from a customer for products or services, then the Subscription payment feature is the ideal service to keep track automatically without you worrying about contacting the customer or someone who needs to pay you on a regular basis. Even if you have a "brick and mortar" store and you have a list of customers that either access products online or receive delivery of products the Subscription payment service can be set to have payments sent to your Federal Gold account. The Subscription payments can be set in a number of ways to provide access or delivery for almost anything that requires payment. It could be used for rent or lease of a building or downloads of music or videos even end of the month payments for gas at the local station. In stores it could be used for Lay-bys or memberships to a club, almost anything that that needs a daily, weekly or monthly payment. To help keep track there are emails that can be automatically sent out for late payment or reminders that payment is due. Management of payments is a breeze with a full break down of all payments received and due with all able to be viewed and downloadable in the statements. Pay Caddy If you need a payment sent to you from a friend who owes you money or a customer who has purchased something from you or maybe simply someone owes you money why not do it professionally and send them a "Pay Caddy". Here's how it works. First you need to have a Federal Gold account, then you add details of the payment you are requesting using the email address of who will be paying you. A particular date and time can be set which could even be on a regular basis. Just set the details and wait for the payments to arrive in your account.
News Article Details Article ID: 152 Article Date: Thursday May 24th 2007 1:53:00 PM (UTC +11:00) Article Publication: Public Article Title: Federal Gold payment service release News Article Content The Federal Gold e-currency payment service has been released. Federal Gold is a stand-alone payment service that provides secure account storage and payment options for anyone to fund an account from a bank and make payment to anyone with as little as an email address or to receive payments from someone around the world. There are services offered by Federal Gold that an account holder will find ideal to use all within a secure environment that is a step above what is available in the marketplace. The secure escrow payment option is ideal for the auction seller and the advanced subscription feature will be a useful service for the business that has a customer base that needs to make regular payments. Federal Gold accounts will also be transferable to and from DXSynergy accounts instantly and operate within the DXSystem as a separate currency between account holders. DXSecurity now operates as a separate service maintaining the security of all account holders’ profile information in a central service that is accessed by DXSynergy and Federal Gold with other businesses being added. This means that once profile documents are accepted by DXSecurity, which operates as the central monitoring service for Federal Gold the authorization only needs to be given when a new account is being created in another portal site. This flexibility allows for any update to the profile details in DXSecurity are automatically duplicated across to the other portal site such as DXSynergy or Federal Gold.
Federal Gold Pass-Through InXchange Information DXSynergy, as a central exchange service is providing all DXUsers with the ability to simply and easily transfer funds from their e-bullion or e-gold accounts into the new safe and secure environment of Federal Gold. How does this work? It's simple! The steps involved are outlined below: 1. You create a special pass-through InXchange from e-bullion or e-gold. 2. You then transfer the nominated e-currency from your account to the e-currency account of the processing DXMerchant. 3. Upon receiving the e-currency from you, the processing DXMerchant then proceed to create a special Federal Gold deposit which is linked up to the InXchange you created. 4. The DXMerchant will then proceed to complete the deposit by transferring the required funds to your Federal Gold account. 5. At the completion of the transfers, the InXchange is reversed in DXSynergy leaving you with the the funds in Federal Gold. How much does it cost? The initial pass-through InXchange has a transaction processing fee of 3.00%. What is required? All that you are required to have is an active Federal Gold Account and funds in either e-bullion or e-gold to InXchange. What if I don't have a Federal Gold Account? Federal Gold uses the DXSecurity service which means that by being a DXUser you've already partially registered, you simply need to 'Authorize' Federal Gold to access your DXProfile details and you're set. If you want to activate your Federal Gold Account now, click here Where do I start? If you would like to create a Federal Gold Pass-Through InXchange now, simply click on the button below! You can find this information under: Personal > DXAccounts > InXchange > Federal Gold Pass-Through Information
News Article Details Article ID: 153 Article Date: Tuesday May 29th 2007 10:46:00 PM (UTC -05:00) Article Publication: Public Article Title: Federal Gold InXchanging available News Article Content A new DXAccount service function has been released for DXUsers to fund their Federal Gold account from their e-gold and e-bullion accounts. The DXUser can now InXchange funds from an e-gold or e-bullion account to their Federal Gold account for a 3% fee via a Pass-Through using the DXMerchant Global Network. To find out more check out the link "Federal Gold Pass-Through" that can be found in the DXAccount menu under InXchanges. The DXMerchants that is linked to receive the InXchange will continue the process and credit the Federal Gold account of the InXchanger. Funding the Federal Gold account will provide the option to transfer to the DXAccount with the "tagged" Federal Gold funds that will then be able to transfer between DXAccounts, DXPortfolios and out to Federal Gold whenever needed. The service involves the DXMerchant Network who will provide the InXchange Pass-Through to the Federal Gold accounts. DXMerchants are able to check out details from the link in the DXMerchant menu.
It seems better than all the payment processors .Moreover it is a government owned one.This way you wont get cheated
What is Federal-Gold? Federal Gold is an electronic currency that has a 100% reserve ratio at all times. What does that mean? That means that the value held in your Federal Gold account is mirrored in real currency or metals in the Federal Gold Reserve (find out more about the structure of Federal Gold here). We have adopted a Corporate Compliance Model, which we provide to the Government of Vanuatu, and under which we are bound. It requires that we instigate and maintain an ‘external’ audit program conducted by a Registered Company Auditor to ensure our perpetual accordance with the 100% reserve ratio and adequate liquidity. An Anti Money Laundering and Terrorist Financing Program (AML Program) is also in place to ensure we conform with both the licence and financial reporting requirements. The AML Program, along with our Terms of Service and Privacy Policy may be accessed via the ‘Legal’ link on the homepage. Offering a complete online service, Federal Gold incorporates the provision of e-currency with payment service capabilities. Not only do account holders have complete access to facilities to send and receive multiple payment structures and types to anywhere in the world, along with asset protection, invoicing and checkout service, but they are all free to access. You only pay for the services you use – no access fees, no ongoing account fees – only small service fees which are clearly displayed before you commit to any given transaction. Refer to the ‘Fees’ link on the home page for a complete schedule of applicable fees. How do I open a Federal Gold account? Quickly and easily, that’s how! Access the ‘Registration’ link on the home page and complete the form provided. By completing registration, you will be issued a DXProfile by our data management provider, DXSecurity. Once your DXProfile has been established, you will have access to your account and will be able to link it to any authorized bank account. These accounts are those that you will fund your Federal Gold account from, and withdraw funds to at any time. Federal Gold undertakes a Customer Due Diligence (CDD) process (see our AML Program for more details) which may require you to submit certain documents to verify your identity. You will receive prompts when you log into your account about what is required from you and how to submit such information to us. Some elements of the account may be restricted until we have completed the CDD process. How can I be sure my information is secure? Using state-of-the-art data protection facilities, your profile will be stored and managed by DXSecurity, ensuring that your valuable personal data and documents are safeguarded from hackers and identity thieves. DXSecurity have over eight years experience in storing and protecting a wide variety of data and not one provider-end breach has occurred. The more people who have your details, the more places the details will be stored and therefore the likelihood that they will be stolen increases exponentially. In offering you the ability to store all of your details centrally – identity documents, credit card details, other personal information – you can be assured that this high-risk information is stored only in ONE place. Allowing you to make payments to businesses and other individuals via the Payment Gateway means that those businesses and people never have access to your information – a concept quickly growing in popularity with online payment services. We have undertaken numerous studies of other e-currency providers and payment services in the market and how they manage data. From this information we can offer a service that will not make the same, numerous mistakes of other issuers that have cost their customers dearly. What can a Federal Gold account be used for? A Federal Gold account can be used in any way a regular bank account can be used – but on a world-wide scale: Store money - Store money in a wide variety of currencies and metals, available and exchangeable instantly Earn interest - Make gains by storing your funds in an alternate currency or precious metal Make payments to creditors - Make payments to creditors instantly online, anywhere in the world Send money to friends or family - Send money to friends or family online, instantly, anywhere in the world Set up a direct debit - Set up a direct debit (subscription) with companies anywhere in the world Send payments for goods or services - Send secure, escrow payments for goods or services Request payments from debtors by giving them your account details - Request payments from your debtors by sending them an email with a fully configured payment link to make payment quickly and easily instead of your account details. How can I fund my Federal Gold account? Currently, there are only two ways for account holders to fund their Federal Gold accounts: 1. From your bank account By using the ‘New Deposit’ function of your Federal Gold account, you can transfer any amount from your nominated bank accounts into the Federal Gold account. Not all banks are able to be listed as authorized banks – if you are having difficultly listing your bank, please contact Federal Gold Support. 2. From another Federal Gold account If you have one Federal Gold account established with a positive value, you can transfer any amount from that account into your second Federal Gold account. In offering these two methods, not only are your funds available in a very short time, our CDD processes are reinforced, as all authorized banks have similar processes, in addition to which usually include physical sighting of customers. Although not currently in place, we are investigating the ability of accepting deposits via credit or debit card. How is Federal Gold Structured?
More importantly it is regulated and Federal Gold will maintain an ‘external’ audit program conducted by a Registered Company Auditor. I think Federal Gold is the sort of payment processor that alot of governments would back as they are basically setting themselves up and regulating themselves exactly the same as any high street bank and that is exactly what will be required in the future as governments clamp down on companies such as IntGold and E-Gold.
Tell us, Simon, which government is backing Federal Gold? It is certainly not the government of Vanuatu. The following may be verified with Jenny Tari of the Vanuatu Financial Services Commission (jennytari@vfsc.com.vu):
Here you go: ==================== QUESTION: ==================== There has recently been some confusion over a recently established IOC based in Vanuatu called Federal Gold Inc. We have been shown an email claiming to have come from yourselves revealing that you maintain no relationship with this company despite them claiming to do so in their legal documents placed on their website: What is Federal Gold? Federal Gold Documents It would be greatly appreciated if you could clear up this confusion. Also find attached the contents of the claimed correspondence with yourselves. ============ RESPONSE: ============ The VFSC responded accordingly to the email, which had been written in a manner using hearsay and misleading comments of other parties. If you have details of anyone or website regarding any misleading information that is contrary to the official information written on the Federal Gold website please forward it to us for our legal staff to follow up appropriately. ================================================= Seems like Jenny needs to ask management before replying to emails properly! Now, what names should I pass on who have made slanderous, unsupported comments about Federal Gold? So MervynJCopperwaite or Sterna, you seem to use so many, I hope you are confident because they have the legal power to get hold of your real details if need be.
Thanks for posting this response. I'll make three observations about it: 1. It confirms the authenticity of the original message from Jenny Tari which you claimed on another forum was likely fake. 2. It says nothing to contradict or refute what Jenny Tari said in her message. 3. You yourself are one of the "other parties" responsible for the "hearsay" and "misleading comments" to which the VFSC is referring, that being your erroneous claim that Federal Gold is backed by the government. Please note that the response you received in no way affirms your claim. I frankly don't understand the point of your gratuitous insult of Ms. Tari.
Government approved / backed / regulated. You can use whatever word you wish, maybe I shouldn't have used that word as it seems to have created massive controversy, guess some people have too much time on their hands to analyse things. It had been given the seal of approval from the government for a central reserve of which Federal Gold is just one part. There are many more payment services to come which will make up the central reserve:
No you can't. Words have meaning and "backed" does not mean "regulated." Exactly. And what does that mean? I think we all agree that since Federal Gold is operating in Vanuatu it comes under the regulatory oversight of the Vanuatu Financial Services Commission. But that has nothing to do with having any kind of approval, beyond permission to do business, which is a trivial claim. Nobody is disputing that they have permission to do business. What exactly makes it the world's first of it's kind as you announced in your opening post? What is the unique nature of their "approval" from the government that is different from what every other digital currency has had until now? Maybe there is something, but I have not divined it from what you have said or the information on their website. As far as I can tell, the only thing Federal Gold is really claiming is the obvious - that they operate under the laws of the jurisdiction where they do business. Now for GDT, that would be unique in their history - that they are operating according to the law - but it would hardly qualify them as the first in the world of some such thing.