AI and Fintech Company, TruthGroup.social, Closes in on Plans to Asset Back Truthcoin, with 400 Million in Shares
TRUTHGROUP IS A AI, FINTECH, AND FREE SPEECH PLATFORM GROUP OF COMPANIES.
It owns an array of Independent Media platforms and free speech social media platforms, and soon launches its censor-free search engine and its TruthChat GTP app as an alternative to ChatGTP.
It has its one Digital Currency which is listed as Truthcoin, the mid-tier crypto exchange, AZBITS on July 30th, 2022 at $0.20 cents USD. It’s traded between $0.03 cents and as high as $1.03 cents, since.
Talks have been reportedly held for TruthGroup, to take a majority stake in Truthcoin, as it’s keen to fast-track its TruthPay app, an alternative to PayPal.
It is now developing its own TruthChatGTP app to counteract the massive left-wing political bias of ChatGTP.
It’s also using AI to develop its search engine, Truthlook.com, to ensure searches aren’t censored or Independent Media and others penalised like Google Search does, for speaking against the Government narrative.
Elon Musk’s rapid turnaround of Twitter to becoming the go-to source for Independent news sources and diverse political views shows the massive demand for uncensored search, AI, and social media platforms.
All niches the TruthGroup has been investing in.
It plans to 10X its current 50,000 users on its Facebook alternative platform called Truthbook.social, after major improvements and benefits are soon added.
It also will start to market its YouTube alternative in TruthTube.video
However, the biggest development is the report it’s in discussions to receive an equity stake in a new Digital Bank, to access licensing for Truthcoin, as once its asset is back with 400 million TruthGroup shares, it becomes a security token, verse a current utility token.
One way it may do this is by agreeing to asset back the 400 million Truthcoin, with 400 million shares to be issued in TruthGroup. If it were to do this, it would make the cryptocurrency even more attractive, as it would be an asset-backed crypto, with real intrinsic value. Overcoming a major criticism of many cryptos, which are backed by nothing. It would work via a holder of Truthcoins, who could request an equivalent amount in TruthGroup shares, to be issued for a nominal administrative fee. Although holders wouldn’t be required to, as they would have peace of mind that they can be issued at any time in the future, at a 1-1 ratio of one Truthcoin to one TruthGroup share. A decision is expected to be decided within months if such a plan is to proceed. It would mean effectively one could buy crypto (which is backed by shares) via the licensed crypto exchanges, such as Azbits, that Truthcoin is listed on under the TRP ticker code or direct via Truthcoin.social. Knowing they can then request TruthGroup, to issue an equivalent amount in shares for a small administration fee. The shares though would only be transferable or redeemable based on showing ownership of the Truthcoins if purchased this way. (and only whilst holding them).
Or sophisticated investors could access TruthGroup shares by way of limited discounted Private Placements, which become available from time to time via TruthGroup, or broker or exchange platforms. However, retail investors from most countries and US and Singapore Residents, are not allowed to partake in private share purchases this way. But most countries allow citizens to purchase cryptocurrencies via licensed exchanges, but with warnings about the risks of many not being backed by anything. If TruthGroup were to reach some of its milestones of even 10% of its $1 billion valuation goals within 5 years, Truthcoin holders or purchasers would do very well by holding what would be an asset-backed crypto, if the deal proceeds, which is now likely according to latest reports.
For further information on TruthGroup visit www.TruthGroup.social It is the owner of the censor-free social media platform Truthbook.social and YouTube alternative in TruthTube.video and soon Truthlook.com and TruthChatGTP.com amongst other assets and platforms, and is buying up independent news networks as well to expand its databases. Its biggest asset could become it PayPal alternative in TruthPay which would also facilitate crypto payments, not just credit and debit cards.
