TORONTO- Goldmoney Inc. (TSX:XAU) (US:XAUMF), a precious metal financial service and technology company, announced that its subsidiary company Totenpass Inc. has today launched its digital storage drive solution in beta.
Totenpass Inc., based in Rochester New York, has been developing a permanent digital storage drive constructed from solid gold that requires no energy and has no movable parts. Digital data is written onto the drive by way of a proprietary light-diffraction process which imprints images, documents, and other files that can be stored as either human readable without the aid of computers or machine-readable with the employ of a smartphone.
This technology allows for the permanent storage of precious digital data, thereby eliminating any future dependence on the internet and the vast amounts of energy required presently to store content. By consequence, this technology will empower both individuals and corporations to decentralize, preserve and fully control their precious digital data once and forever.
The company was founded by Goldmoney CEO Roy Sebag, Bruce Ha, the former director of optical media at Kodak, and Goldmoney CTO Alessandro Premoli. Goldmoney has made a series of investments in the company since 2017 and currently owns a majority of the outstanding shares.
The Totenpass is being initially launched in two sizes which retail for $50 and $75 USD respectively. The company offers global shipping and accepts payment via credit card or cryptocurrency.
A 22 page white paper has been published providing further information about the technology: https://www.totenpass.com/pdf/Totenpass-Whitepaper-January-2021.pdf
“Today, through our subsidiary company Totenpass, Goldmoney embarks on a new journey to disrupt the digital storage market. Over the past four years, Goldmoney has been inspired to expand our business activity beyond the custody and storage of savings, seeking to empower users to have autonomous and permanent custody of their precious digital information through the unique medium of gold. More so than any of our past ventures, Totenpass exemplifies the interdisciplinary nature of the group and our willingness to take risks, disrupt and compete with existing industries. Totenpass was born of a simple and yet ancient idea: to indelibly inscribe information upon precious metals in order to preserve them for future generations. We married this historic, cultural tradition to brand new technology in order to extract digital files (stored as binary code) from the omnipresent Cloud and embody them in physical gold. We learned about cutting-edge material science and light refraction technology. We then developed a team of leading experts in their fields who researched and developed a ground-breaking solution to the problem of digital storage. This has been an extraordinary feat which may very well be remembered as the greatest contribution that our group has made yet.
The vision and goal of Totenpass has now been achieved: users can save their precious digital files offline and retain true ownership of their data once and forever. While improvements and developments may still be made, we have decided to launch in Beta mode so that users can experience Totenpass for themselves. I personally believe that this initial use case will sufficiently serve as the foundation to build an original, exciting business with great potential for year-over-year revenue growth and profitability. We now must wait and see whether consumers agree.
I would like to thank Bruce Ha, Alessandro Premoli and the team led by Carmelo Chiarenza for their outstanding work in bringing this technology to life. I would also like to thank our patient shareholders who have expressed their personal desire to see Totenpass launched as soon as possible. We will begin to update investors on the progress of Totenpass in our quarterly financial results and other communications.” – Statement from Roy Sebag, Chairman and Chief Executive Officer
Goldmoney Inc. (TSX: XAU) is a precious metal focused global business. Through its ownership of various operating subsidiaries, the company is engaged in precious metal sales to its clients, including arranging delivery and storage of precious metals for its clients, coin retailing, and lending. Goldmoney clients located in over 150 countries hold nearly $2.5 billion in precious metal assets. The company’s operating subsidiaries include: Goldmoney.com, SchiffGold.com and Goldmoney Lend & Borrow. In addition to the Company’s principal business segments, the Company holds significant equity interests in Menē Inc., which crafts pure 24-karat gold and platinum investment jewelry that is sold by gram weight and Totenpass Inc. which has developed a permanent digital storage drive constructed of solid gold. Through these businesses and other investment activities, Goldmoney gains long-term exposure to precious metals.