White Paper and Prospectus
Asset Utility Token – AUT
This White Paper is issued on January 12, 2018
The purpose of this proposal is to introduce the Green Fire DAO, the Cryptocurrency and the advanced Blockchain applications of the “Landfill” economy.
As a DAO, a decentralized autonomous organization, Green Fire presents a new organizational structure and model of consensus management and interoperability both within our own Green Fire Landfill networks as well as global ecommerce networks within the framework of blockchain technology.
To initiate the Green Fire initial investors created a foundation, The Green Fire Foundation.
GreenFire Foundation Legal Disclaimer
Please read the following notice carefully before proceeding to read this Whitepaper document issued by GreenFire Foundation, an exempted company incorporated and existing under the laws of the Panama (hereinafter – “Distributor”). This notice applies to all persons who read this document. Please note this notice may be altered or updated.
The Whitepaper does not constitute any relations between you (hereinafter – “you” or “Holder”) and the Distributor. Acquiring of the AUT tokens is available only after accepting the Terms and Coditions of the Website (hereinafter – “T&C”).
Acquisition of AUT cryptographic tokens does not present an exchange of cryptocurrencies for any form of ordinary shares of the Distributor and a Holder of AUT cryptographic tokens is not entitled to any guaranteed form of dividend, Holders of AUT tokens are only entitled to certain rights within the T&C.
AUT tokens are not intended to constitute securities in any jurisdiction. This Whitepaper does not constitute a prospectus or offer document of any sort, and is not intended to constitute an offer of securities or a solicitation for investments in securities in any jurisdiction.
This Whitepaper is for information purposes only. The contents of this Whitepaper are not a financial promotion. Therefore, none of the contents of this Whitepaper serves as an invitation or inducement to engage in any sort of investment activity.
Prospective acquirers of AUT tokens should carefully consider and evaluate all risks and uncertainties associated with the cryptocurrencies, GreenFire Foundation and their respective businesses and operations, the AUT tokens and the AUT Initial Coin Offering. Familiarize yourself with all the information set out in this Whitepaper, Risk Notice and the T&C prior to any purchase of AUT tokens.
Ensure that you are aware of all of the would be risks prior to obtaining AUT. The Risk Statement details all potential risks that you should consider. We recommend that you seek out independent financial advice before engaging in any sort of business endeavor.
ICO GreenFire Foundation White paper Risk Statement
No regulatory authority has examined or approved any of the information set out in this Whitepaper. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of this Whitepaper does not imply that the applicable laws, regulatory requirements, or rules have been complied.
To the maximum extent permitted by the applicable laws, regulations and rules, GreenFire Foundation and its affiliates and their respective officers, employees or agents will, in relation to the website and AUT tokens, not be liable for any damages of any kind, including, but not limited to, direct, consequential, incidental, special or indirect damages (including but not limited to lost profits, loss of revenue or third party loss whether foreseeable or otherwise, trading losses or damages that result from use or loss of use of the website and AUT Tokens).
For the avoidance of doubt, The Distributor expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in this document, (ii) any error, omission or inaccuracy in any such information, (iii) any action resulting therefrom, or (iv) usage or acquisition of products, available through the website.
You acknowledge and agree that you are not purchasing AUT tokens for purposes of investment, speculation, as some type of arbitrage strategy, for immediate resale or other financial purposes.
Some of the statements in the Whitepaper include forward-looking statements which reflect the Distributor’s current views with respect to execution roadmap, financial performance, business strategy and future plans, both with respect to the Distributor and the sectors and industries in which the Distributor operates.
Statements which include the words ”expects”, ”plans”, ”believes”, ”projects”, ”anticipates”, ”will”, ”aims”, ”may”, ”would”, ”could”, ”continue” and similar statements are of a future or forward-looking nature. All forward-looking statements address matters that involve risks and uncertainties.
Accordingly, there are or will be important factors that could cause the Distributor’s actual results to differ materially from those indicated in these statements. These factors include but are not limited to those described in the part of the T&C entitled ”Risks”, which should be read in conjunction with the other cautionary statements that are included in the T&C.
Any forward-looking statements in the Whitepaper reflect the Distributor’s current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the Distributor’s operations, results of operations and growth strategy.
These forward-looking statements speak only as of the date of this Whitepaper. Prospective buyers of the AUT tokens should specifically consider the factors identified in the Whitepaper and T&C which could cause actual results to differ before making a purchase decision.
No statement in the Whitepaper is intended as a profit forecast and no statement in the Whitepaper should be interpreted to mean that the earnings of the Distributor for the current or future years would be as may be implied in this Whitepaper.
ICO GreenFire Foundation White paper results to differ materially from those indicated in these statements. These factors include but are not limited to those described in the part of the T&C entitled ”Risks”, which should be read in conjunction with the other cautionary statements that are included in the T&C.
Any forward-looking statements in the White paper reflect the Distributor’s current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the Distributor’s operations, results of operations and growth strategy.
These forward-looking statements speak only as of the date of the Whitepaper. Prospective buyers of the AUT tokens should specifically consider the factors identified in the Whitepaper and T&C which could cause actual results to differ before making a purchase decision. No statement in the Whitepaper is intended as a profit forecast and no statement in the Whitepaper should be interpreted to mean that the earnings of the Distributor for the current or future years would be as may be implied in this Whitepaper.
Citizens, residents (tax or otherwise), or green card holders, of the United States of America are ineligible to purchase any AUT tokens in the AUT Initial Coin Offering (as referred in this Whitepaper). The same pertains for residents of the Republic of Singapore and Canada. Participation in the AUT Initial Coin Offering for: This Whitepaper, or any part thereof, as well as any copies, must not be taken or transmitted to any country where distribution or dissemination of this Whitepaper is prohibited or restricted.
What is the GreenFire Foundation?
The Green Fire Foundation is a group of early adopters of the Green Fire platform who share the belief that the Green Fire and its technology has the potential to revolutionize how waste reclamation is done and how reclamation, specifically Landfill Reclamation, can provide a financial backbone for global decentralized commerce.
The GreenFire founders have invested the initial assets into the GreenFire Gold Reserve Bank.
Why Is The Green Fire Foundation Needed?
The Foundation is an organization of the initial asset contributing entities whose main role is to hold on to assets and use the voting system to establish asset value and manage the coin distribution.
In order for the Green Fire platform to grow and gain widespread adoption, a bridge is needed between the Green Fire platform, community, developers, etc. and the rest of the world who are accustomed to the old world legacy banking system to connect with the new world organism of decentralized asset backed currencies, as designed by Green Fire, that are not owned by any government or central bank.
Green Fire will continue to grow in utility (daily practical applications) and thrive, this will be achieved by the addition of the landfill Pickers (about 15 million) and Women Informal Workers (about 20 million) and more and more people simply joining Green Fire.
To grow the Green Fire platform and community, Green Fire has something that can connect and engage with the rest of the world (individuals and businesses) at a professional, hospitable, safe and secure manner.
The Green Fire Foundation can simply be viewed as an interface between an old and new financial world guided by the Green Fire community and NOT directing the Green Fire community.
The Green Fire community does not need a ‘foundation’ for the community, it needs a ‘foundation’ for the rest of the world to be able to connect with the value that Green Fire and its community offers.
A Green Fire Cryptocurrency Backed By Gold and Other Assets Tangible and Intangible.
These assets are registered as Green Fire Reserve Assets in the Green Fire Gold Reserve Bank.
What is The Green Fire Gold Reserve Bank?
The GreenFire Gold Reserve Bank is the controller and the issuer of Asset Utility Token (AUT) coins.
The GreenFire Gold Reserve Bank is the depository of all Green Fire assets. This bank will have a corresponding relationship with additional DAO-based banks for other financial functions and services not performed by GreenFire Reserve Bank.
The GreenFire Gold Reserve Bank will be the only Asset Utility Token (AUT) blockchain miner and will issue every Informal Worker or Landfill Picker on our projects a private key for trade transactions. Please see “An Economic Plan For The Children of the Landfill” for the concept explained.
The Green Fire Gold Reserve Bank Founding Assets – An ASSURANCE Smart Contract defining the asset allocation backing every Asset Utility Token (AUT) as at a fixed ratio of 1 to 1 in value. We are currently using the metric of the $1 USD to $1 Gram of gold in value. This metric may be subject to change at any time.
This smart contract will be the Prime GreenFire Gold Utility Token (AUT) smart contract.
Through the use of one user friendly wallet, owners will be able to trade and interact with any other blockchain, cryptocurrency, fiat currency, and other electronic payment systems from one platform.
The GreenFire ICO
The AUT Offer
Blockchain Startup Green Fire Engineered Reclamation to Launch Initial Coin Offering (ICO) To Raise Funds for GreenFire Landfill Projects and the “Children of the Landfill” project.
Cryptocurrency developers have
their coin as their business, the GreenFire is a
business-on-the-blockchain and has a coin, the Asset Utility Token
(AUT), for its business transactions.
Our Decentralized Autonomous Company (DAC) business is Landfill Mining and Reclamation.
The GreenFire trade currency is
the Asset Utility Token AUT coin
All purchases of AUT are transacted in Bitcoin, alt-coins and normal banking processes.
Green Fire Engineered Reclamation’s global team of engineers and professionals and their leading Blockchain developers is launching an Initial Coin Offering (ICO) for Asset Utility Token (AUT) to raise investment funds for the Green Fire Engineered Reclamation Landfill projects and the “Children of the Landfill” humanitarian Project.
- The Initial Coin Offering (ICO) of Asset Utility Token (AUT) is 1,000,000,000 (one billion) coins.
- The base value of one (1) AUT Token is denominated in USD and is valued at $50.00.
Initial Assets held by the Green Fire Foundation:
From contracted operating mines.
10,000,000 grams of gold. Estimated value, $500,000,000 USD.
Total initial assets on deposit are valued at USD500,000,000 (Five Hundred Million US Dollars)
These assets are deposited and held in the GreenFire Gold Reserve Bank.
Asset Utility Token Coin Assets
https://childrenofthelandfill.com is the host of the ICO for AUT, a gold backed convertible utility token.
AUT is a Asset backed coin.
AUT ICO projected price is $50.00USD
AUT is backed with hard assets from:
- Gold from contracted Gold Mines.
This redemption agreement is made and entered into at the time of purchase by and between Asset Utility Token, smallgoldtoken.com, (Corporation) and Aquirer (Tokenholder). Both parties are to agree to the following terms:
The Tokenholder, is the rightful owner of SmallGoldTokens in the AUT pre-ico.
The Tokenholder and Corporation mutually desire that the Corporation redeem these tokens
Therefore, the Corporation agrees to redeem the above listed Token(s) as of the Redemption date. Redemption date shall be no earlier than 180 days from Agreement Date.
The Corporation agrees to convert [one gram 999.9 pure gold] per Token:
- Redemption Clause:
- Purchaser shall redeem Token for one (1) gram of gold regardless of the spot price of gold.
The AUT Token is convertable for one gram of 999.9 pure Gold produced from contracted mining operations.
On Conversion Date, and upon successful Transfer of the AUT token, the Tokenholder agrees to fully surrender all rights and ownership to the above listed Tokens.
Note: Our policy is to purchase whatever asset that is necessary to maintain our issued token value.
ICO AUT Coin Structure
Total AUT Issuance is 10,000,000 (Ten Million) coins
Total AUT coin reserves are held by the GreenFire Foundation
Total AUT ICO issuance is 100,000
Total for sale during ICO – 100,000 coins
Current AUT coin value is $50.00USD
ICO sale price $50.00 per coin
Investors In Asset Utility Token
The GreenFire Reserve Assets are used exclusively to back Asset Utility Token (AUT) Token and the GreenFire asset exchange. As the assets are accepted more Asset Utility Token (AUT) tokens are issued.
The Asset Utility Token (AUT) Token is a Global Transaction Currency designed to provide a complete venue of financial services through secured transactions internationally and without interacting with traditional banking processes. Asset Utility Token (AUT) Token transcends all borders and ideologies.
The mission of Asset Utility Token (AUT) is to provide a secure global asset backed digital currency for international exchange.
Once the contract is created and operational, the Asset Utility Token (AUT) token holders can sell their tokens at current market rate, hold it to speculate on the platform becoming more popular relative to the fixed number of tokens, or exchange their token with the GreenFire exchange itself for one gram Gold bars as described above.
The Green Fire Engineered Reclamation process extracts gold from the landfill waste using our own patented “green” processes, our processes never pollute or contaminate. We view Landfill gold as an environmentally safe gold. It is this “Green Gold” that is literally mined with a non-polluting process that is exclusively targeted as the asset backing the GreenFire Token, the Asset Utility Token (AUT).
All reclaimed precious metals and minerals are registered and added to the asset base of Asset Utility Token (AUT) Token. Every Green Fire Engineered Reclamation landfill project adds to the Asset Utility Token (AUT) asset base and so, allows The GreenFire Gold Reserve Bank to issue more Asset Utility Token (AUT) tokens.
The GreenFire Network
The GreenFire network of federated servers is made up of the servers that exist as part of the Green Fire landfill installations.
All transactions are processed through this network. A transaction is passed through several severs simultaneously becoming virtually invisible and unavailable to any other than those that are part of the transaction.
The Green Fire network of servers will be added to the Ethereum blockchain network.
Governance and Elections
The GreenFire Foundation has a fully democratic elected Board of Directors. The Board will be elected annually after Startup stage by weighted voting by all members.
The key aims of the GreenFire organization are to provide advanced global blockchain financial solutions and applications and decentralized cryptocurrency capable of realtime transactions.
The problem of third party risk.
There are no third parties involved with Asset Utility Token (AUT). We are completely transparent about our assets, this is addressed through Smart Contracts. We make sure that you know that we have the asset we are using to back Asset Utility Token (AUT) digital currency.
What Is The Financial Structure of Asset Utility Token (AUT) Coin?
The financial structure is very straight forward. Asset Utility Token (AUT) Coin is a common cryptocurrency stabilized by identified assets, gold and other. The Green Fire Gold is the gold that is reclaimed from the landfill ming reclamation and contracted operating gold mines.
Is The Asset Utility Token (AUT) Coin a Currency?
Asset Utility Token (AUT) Is Real Money?
In the functional sense, yes; Asset Utility Token (AUT) is being used as a medium of exchange. In another sense, though, it is something entirely new in the evolution of money.
Are Asset Utility Token (AUT) Tokens really worth anything?
Most digital currencies are fiat and are worth whatever individuals choose to believe they are worth. Asset Utility Token (AUT) Coin has a recognizable value, one gram of 999.9% pure gold.
The value of the Asset Utility Token (AUT) Coin is determined by the “asset value” , the spot price of gold.
Asset Utility Token (AUT) Coin has exciting newness, high-tech nature with asset backing.
This exciting newness comes from the Asset Utility Token (AUT) Wallet’s ability to transact with any other cryptocurrency on the blockchain as well as fiat currency.
Asset Utility Token (AUT) is highly valued because of the asset backing, privacy, convenience, superior portability (instantly transferable to any point on the globe with Internet access, independent from central banks and intrusive governments.
Asset Utility Token (AUT) Coin as a true gold and real asset backed currency, is rare, there are few cryptocurrency that are “asset backed” with certifiable and provable mineral assets and reclaimed metals form waste.
The confidence in the Asset Utility Token (AUT) Coin and the public opinions of Asset Utility Token (AUT) Coin are derived from its tangible and unlimited asset backing.
What is the Public Business Model for Asset Utility Token (AUT)?
Asset Utility Token (AUT) Global Transactions and the GreenFire Smart Contract
Our innovation is to express an issued instrument, the Asset Utility Token (AUT) Coin, as a smart contract, and to link that smart contract into every aspect of the transaction payment system. This document, the Asset Utility Token (AUT) Smart Contract, forms the basis for understanding an issue and every transaction within that issue.
By this process, a document of some broad utility (readable by user and program) is drafted and digitally signed by the issuer of the instrument.
As an issuer of asset backed currency GreenFire accommodates global transaction and payment processing. Our method is to identify and describe issues of financial transactions as smart contracts.
This is the key functionality of Asset Utility Token (AUT).
A Asset Utility Token (AUT) smart contract can be defined as a single document that is:
a) a contract offered by an issuer to tokenholders,
b) a valuable right held by tokenholders, and managed by the issuer,
c) easily readable by people (like a contract on paper),
d) readable by programs (parsable like a database),
e) digitally signed,
f) able to carry the keys and server information, and
g) allied with a unique and secure identifier.
In the simplest possible terms, a Asset Utility Token (AUT) Smart Contract is a document defining a type of value for issuance over the Internet. It identifies the Issuer, being the signatory, and any terms and clauses the Issuer sees fit to add in to make the document stand as a contract.
All communications regarding transactions within the GreenFire environment are only transmitted to other Asset Utility Token (AUT) wallet holders for security reasons and in every instance GreenFire provides encrypted email services.
There will aways be a dispute-mediation clause regarding independent arbitration if all else fails. By “all else fails,” it meas in most smart contracts there will be a time-based trigger: if neither party agrees to the contracted actions by a specific time in the contract located on the ledger, the contract is sent to arbitration.
An Arbitrator may be chosen from a list of known reputable arbiters who face similar market conditions to provide unbiased service These types of default-based relationships and contractual stipulations take place today.
Smart Contract Conclusion
The smart contract is the keystone of the Asset Utility Token (AUT) issuance. Our innovation is to express all the salient details of an issuance as an unforgeable contract, unforgeably linked into every action within a payment system. In this way, a financial transaction can develop along the lines it always has done – by means of agreement within smart contracts.
By translating the institution of the smart contract into the digital domain, we build upon centuries’ and even millennia worth of experience in documenting, sharing and disputing the meaning of agreements between parties.
Asset Utility Token (AUT) increases and stabilizes its circulation through use of an expanding asset base, including Green Fire Landfill projects and other appropriate assets.
The Asset Utility Token (AUT) Basic Functions
Asset Utility Token (AUT) Functionality
Digital Asset Exchange
Secured Cryptocurrency Bank
We Are Green Fire Foundation
The market needs a trustworthy and legitimate on-the-ground decentralized blockchain application to support the environmental reclamation needs of this world and be supported by an asset backed cryptocurrency that can lead to positive change.
As a gold-backed currency with inner humanitarian value, GreenFire poses an international and unaffiliated alternative to existing reclamation solutions.
The result of careful planning and preparation, Asset Utility Token (AUT) is designed to be reliable and trade-able asset backed cryptocurrency .
Asset Utility Token (AUT) is committed to ensuring that all operations – such as customer service and the currency management mechanism – will operate under the principles of simplicity, transparency, and fairness. We need your cooperation in spreading the word and supporting Green Fire Gold.
A small investment will go a long way in leading to positive global change!
I am the Campaign Manager for an in-bound crowd funding ICO project.
I practice the art of entrepreneurship and social marketing.
I am dedicated to helping the “Children of the Landfill”,
I am seeking interested people who want to reclaim the wealth from landfill Reclamation projects and help humanity, please contact me via email: firstname.lastname@example.org, If you are interested in more information.