David Seaman & BitGold, Goldmoney

nigelmarkdiasnigelmarkdias Posts: 1,322 Silver ✭✭✭✭
edited August 2016 in About Goldmoney

Fixing the fractured financial system.

From David Seaman

I flew up to Canada to learn more about BitGold, and its parent Goldmoney. An entrepreneur around my age, Roy Sebag, had grown the publicly traded Goldmoney and built its popular subsidiary BitGold into a million-plus community of users transacting in verifiable, insured physical gold. We became friends and I used it as an opportunity to learn as much about the business as possible. Goldmoney had hired former PayPal Canada CEO Darrell MacMullin to helm its BitGold unit, and attracted a number of other thought leaders in the space, including Peter Schiff’s SchiffGold, which was recently acquired by Sebag’s company. The company is funded by a number of savvy financial elites including precious metals entrepreneur Eric Sprott and the legendary Soros family.

The deeper I dug, the more admiration for the self-made Sebag, both personally and as a sound money supporter.

Sebag, a former hedge fund manager, set his sights fully on fixing the fractured financial system. And to him, building a payments network on the immutable, ancient first currency - gold - just made more sense, not only ideologically, but mathematically: you can move gold ownership around the world faster and cheaper than fiat currency, which was Sebag’s breakthrough realization after years of working within the traditional financial system and profiting from it. It’s a realization that could net Sebag and his Colorado born co-founder Josh Crumb a number of devoted users in the years ahead.

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