Please enable JS

ABOUT US

Money is really anything that people use to pay for goods and services and to pay people for their work. There are, of course, major challenges in exchanging one commodity for another, such as a cow for a chicken, when they are of different values. To solve the problems of using commodities as a way to pay for goods, governments introduced fiat money (paper and coin money). Unfortunately, in order to manage the movement of fiat money banks were introduced and the costs and rules of monitoring the movement of fiat money has resulted in more than 1.7 billion people being excluded from the banking system and from accessing loans, savings and insurance.

By creating a digital commodity in the form of digital money voucher and linking the value of the vouchers to the value of known and trusted fiat money values, we have created a new way to hold value, transact and access products and services without having to own a bank account. Sellers accepting 6DOT50 Money as payment can convert their value back to fiat money at any time.

Commodity Money

This is the oldest form of money and is closely related to (and originates from) a barter system, where goods and services are directly exchanged for other goods and services. The critical thing to note about commodity money is that its value is defined by the value of the commodity itself. In other words, the commodity itself becomes money. Examples of commodity money include gold coins, beads, shells, spices etc.

Fiat Money

Gets its value from a government order. That means, the government declares fiat money to be legal tender, which requires all people and firms within the country to accept it as a means of payment. Examples of fiat money include Dollars, Pounds, Euros, Rands etc.

6DOT50 Money

6DOT50 Digital Vouchers have been designed as commodity money where the value of each voucher is derived from the value of a known and trusted fiat money value. For example, each 6DOT50 Digital Rand is equal to 1 ZA Rand and each 6DOT50 Digital Dollar is equal to 1 US Dollar. By creating a digital commodity and linking it to the value of fiat money, 6DOT50 Money is a viable new way to pay for goods and services and to access financial services without the need to own a bank account.

6DOT50 Account

The 6DOT50 platform offers each member access to a secure day-to-day transactions account. It stores the value of your Digital Vouchers and keeps a record of your transactions. You can BUY Digital vouchers, SEND them to any other member, hold them until you need to use them or USE them to pay for goods and services from those sellers who accept 6DOT50 Money as payment.

6.50 was the ZAR-USD rate in 2011 and highlights the ongoing deterioration of emerging market currencies against the US Dollar. Our 6DOT50 Digital Dollars (launching soon) are the easiest way for customers living in emerging market to protect their wealth by accessing and holding US Dollar value without the need for a bank account.

OUR LEADERSHIP TEAM

img

WARREN VENTER

DIRECTOR @ 6DOT50

Founder of M4JAM, South Africa’s fastest growing and largest micro-jobbing platform, with 10 years' experience in tech start-ups.

img

MARC TISON

DIRECTOR @ 1FOR500

Founder of Alfinanz and COO of Old Mutual’s Mass Foundation cluster with a 30 year career in financial services.