Now She Launches a Currency Called “The White Standard.”
A woman named Elizabeth White made a business out of trading in cryptocurrency holders’ digital wealth in for luxury items such as Lamborghinis, designer fashion, as well as yachts. These days, Elizabeth launches her own cryptocurrency, which is a “stable token” that is called the “White Standard.” For a crypto community, the hashtag #whenlambo target the Lamborghini as the embodiment of the aspirational wealth which they hope to possess one day. But for Elizabeth White, the hashtag only conveys a personal challenge. In 2017, when she started trending in cryptocurrency forums, White said that she thought to herself “You know what, I can get these people a Lambo.”
Cars seem to be a big seller, according to White
Affluence may probably abound in the cryptocurrency community, but it is not always an easy thing to transform digital wealth in for real-world assets. Pushing transactional fees, as well as low daily exchange limits on trading platforms and widely fluctuating values can make trading digital currencies in for fiat a problematic endeavor.
As she was working in the racecar industry for an extended period, White decided to leverage her connections to hedge funds and luxury car dealerships to provide the holders of cryptocurrency access to the Italian supercar of their dreams.
White says that there is so much new wealth in the cryptocurrency community so that cars seem to be a big seller, as it establishes you as a cryptocurrency holder.
Typically, the initial exchanges of White take place over the secure messaging app Telegram. She also says that she can facilitate a deal for a luxury car in exchange for cryptocurrencies in a matter of days.
She said that they had a massive sale to a buyer in China from a seller in California for a $4 million card. The negotiation was very quick, and it took less than a week and the settlement took about 30 minutes, she explained.
The White Company
White also says that her company, which is suitably called “The White Company,” can handle such fast-paced deals in a mix of fiat, as well as digital currencies as of the liquidity of the hedge fund, Apis capital Management with which she is working.
She says that they can become quickly covert the holdings of someone at any moment. She explained that she could take these vast amounts of money, as well as to buy the items for her client, and then re-ingest their cryptocurrencies back into the fund.
Some of the transactions that White handled were deals for Super Bowl suites, as well as yachts, honeymoons, luxury fashion items and engagement rings.
The ability to cash in digital assets for real-world goods is an important, as well as validating function for cryptocurrencies, says White.
She also said that everything goes back to offering cryptocurrency holders something which they need. They need the ability to buy something in the real world with their digital wealth.
Finance Partner, Edgar Radjabli
Her experience with cashing in cryptocurrency assets for tangible goods has inspired her in an entirely new direction. These days, working together with her finance partner Edgar Radjabli, White is going to launch her own cryptocurrency, which is called “The White Standard” which she hopes someday is going to be used to handle the majority of online transactions.
Unlike Ether, as well as Bitcoin, which have both been historically traded as a method of speculation, “The White Standard” is a “stable coin” – a digital token with the primary goal of serving as a means of digital commerce. White also said that each White Standard that is built on the blockchain application Stellar is going to be backed by an American dollar, ensuring that the coins maintain a real-world value.
Her finance partner Edgar says that as they gain adoption, White Standards are going to be trade-able on some other exchanges. He also confirmed that people will always have the ability to trade Ether and Bitcoin in and of the White Standard.
He also said that both of them took in consideration the possibility of their own dollar-backed digital currency when rumors started swirling that Tether, which is another dollar-backed stable token, was not accurately representing the fiat backing for their coins.
Being backed by the hedge fund of Radjabli, The White Standard has plans on building a foundation of payment networks for cryptocurrency trade around the world.
In the end, he said that they want to build a coin which is going to let people instantly buy a cup of coffee or a Lambo with cryptocurrencies at any place in the world.