Hello there! Good project! It`s a bit difficult for me to understand. What the transformation of token is about??? Can you explain the process of transformation from GAUS Token to GAUS Coin?
Thank you for question, dear Elleronie! The process of transformation from GAUS Token to GAUS Coin is described below. Fell free to ask more questions if there are after you read the operation description.
• Upon registration in the system, the manufacturer is given a GAUS ID code, a so-called Manufacturing Tag intended to be used in the emission of this manufacturer’s GAUS SMART COINS (GSC).
• In order to pay for the GAUS smart contract, the buyer needs to hold GAUS tokens. The GAUS cryptocurrency can be purchased at an exchange or via the GAUS wallet (the member area) for any other popular cryptocurrency or fiat money.
• The buyer chooses one of the standardized smart contracts available and pays for the purchased goods with the GAUS cryptocurrency, which is automatically converted into GSC tagged by the manufacturer that takes the order (GSC emission takes place the moment of smart contract settlement).
• The manufacturer receives “frozen” GSC as payment.
• The manufacturer can keep the GSC or use it as security to get the payment in fiat money from a GAUS partner bank.
• Upon vehicle receipt, the buyer activates the GSC chain. The GSC is converted into untagged GAUS cryptocurrency and can be exchanged into other currencies, fiat or crypto