The Cento team constantly strives for improvement and perfection
The history of Cento begins with the creation of the Switzerland-based company, Sovereign Mint. It is the parent company of Cento and was created in 1905. Sovereign Mint is a company that has vast experience in working with precious metals, and this is one of the factors that prompted the idea to create Cento.
In the summer of 2013, a technology company was created that began to work on ideas that eventually formed the basis of the Cento Smart Currency. Prior to 2013, we studied available and emerging technologies, building modern financial models, and working with AI in the financial world.
Over several years we tested various blockchain technologies that Cento could optimally work with. This was done because Cento appears to be a simple system, but internally it is a complex idea that requires the best technologies to function properly. As a result, the choice was made to use the new Substrate blockchain from Parity Company. If superior blockchain systems are developed in the future, we will transfer the Cento system to it.
The first designs of the Cento SmartSafe were made in early summer 2019. By September 2021, we switched to Beta status. Work on Cento SmartSafe is ongoing and, in the near future, we plan to release it is a mobile application.
Prior to formally launching the Cento system we created an Early Access service. Each person who has reached legal age will be able to make an application for early registration. When the Cento system is officially ready to operate, early registrants will be given top priority to purchase Cento.
In order to simplify work with suppliers, we created a Purchase Metal Supplier System. In it, suppliers can sell metals, enter into contracts and make shipments of sold metals.
We plan to launch the currency exchanger during early summer so that every Cento holder will be able to exchange his Cento for fiat money or buy Cento from other Cento holders
Work with AI began in the spring of 2019. Thereafter, the team began collecting additional information in order to begin instructing others about the AI model to be used with Cento Smart Currency.
We make every effort to be as transparent as possible so that our community can find answers to their question and have a place for communication and exchange of ideas.
Cento is based on a large number of systems and processes, one of which is full of all precious metals that are connected to supply contracts. To simplify the work of auditors, we developed a custom audit system.
The refinement of the minting formula and the full development of the minting system was completed in January 2021
In order to simplify and facilitate the Vault’s staff work with metals, conduct internal audits, have access to databases, etc., we decided to develop a Cento Vault System.
Cento minting involves an extensive number of processes and the service of many people and companies. These processes need to be perfectly coordinated and professionally accurate. The Cento team plans to conduct the first minting to ensure that the system is fully operational.
After years of extensive development, this will be a milestone event for Cento and those who purchase this smart currency!
We are working to obtain a Swiss Light Banking License and plan to do so in May 2020