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History of Free Market Money

The free market money industry began in 1990 with a proof of concept. One of the genius minds involved in some of the most significant work in open source crypto, David Chaum, founded Digicash. Chaum's work in blind signatures, undeniable signatures, and mix networks continue to have prominence in computer data security. Digi-bank was built and operated for a few years. "David Chaum pioneered an advanced payment system where anonymity is guaranteed 100% and not only anonymity in financial transactions, but his system also offers total anonymity for any personal records and documentation on the same principle of untraceable communication protocols." ~ Hans Schicht

In 1996 acting on a long-standing interest in monetary matters, including a desire for finality of settlement and freedom from exchange risk, Doug Jackson opened e-gold.com. Some years later, in 2000, the e-gold system was dramatically re-vamped. Using a very innovative referral fee system, e-gold rapidly became the industry leader in gold and silver stored, offered other metals including platinum and palladium, and became the leader in total user accounts. At the system's peak use near the beginning of 2007, something on the close order of $50 billion in economic activity was moving through the e-gold system.

In 1998, the Liberty Dollar system was developed by Bernard von NotHaus.

The year 2000 saw e-Bullion.com come on the scene.

In 2001, two other services arrived: GoldMoney.com, and 1MDC.com. The e-dinar system which started operating in 2001 formally separated from the e-gold system in 2004.

The year 2002 saw the arrival of Pecunix.com

December 2005 saw the first of a series of attacks on the free market money industry, with the seizure of the e-gold servers in Florida together with numerous company records. In 2006, these records were returned. A witness who got to see the piles of boxes and the complete mess reports, "It was like a room in which a tornado had touched down. The government literally didn't care what they destroyed or whose business was harmed."

The year 2006 saw the development of Loom.cc and related asset services.

The year 2010 the Global Settlement Foundation was developed.

The Vertoro Association

est. 2004