Lessons From the Initial Electronic Gold Growth

    With cryptocurrencies possessing captured everyone’s creativity, we typically fail to remember that the electronic gold growth of the 2000s was the first electronic currency revolution. Jackson’s original success with e-gold inspired a swarm of copycats: GoldMoney, eBullion, OSGold, INTGold, Pecunix, 1mdc, and extra. These currencies have been swapped on hundreds of electronic gold exchanges situated close to the world. The market even experienced its very own magazine, DGC Journal, and trade affiliation, the World Electronic Forex Association. At its peak in 2005, e-gold experienced close to 1.2 million accounts with transactions totalling $1.5 billion. It was almost as huge as PayPal.