Giracoin is the first Swiss crypto currency issued by a financial intermediary in Switzerland. This means that all fiat transactions are monitored in accordance with anti-money-laundering regulations and that its evolution is constantly reviewed by government agencies. Participants within the system are properly checked using know-your-customer (KYC) rules to ensure no manipulation takes place.
GFG was founded in mid-2016 and launched the GiraUno, the first product based on SHA-256 encryption. As the community has grown, so have the needs and ideas for this cryptocurrency, ultimately resulting in a fork towards the end of 2017 which resulted in the Giracoin 2.0 as a new lead product.
The Smartcontract capability of Giracoin 2.0 opens up completely different possibilities and is a way forward from the simple digital complementary currency to an intelligent blockchain token.
In September, GiraUno will be the first product to go on an external exchange in response to high demand from the community and will serve GFG as a proof of concept. The commercial value of this product will depend solely on and be determined by the community.