It is Backed Up Community Shares or Backed Up Crypto Shares.
You chose what you like better. It's all that and much, much more.
BUCS looks and acts like a crypto currency but it is no currency. It represents a shares in SCCS Ltd. company. Those shares are encrypted and written in electronic form into the smart cards. That is why we call them crypto shares.
What is done with money? It is invested into the pool of holdings. What is in the pot? Precious metals. Each BUCS share is 100% backed up by the stored value of physical silver and gold bars. Those bars represent a company core value. That core value belongs to shareholders.
Increase in core value is not dependant on precious metals going up but also every time BUCS shares are purchased there is a contribution of 1% that gets re-invested for everyone to benefit from. Even investor’s own purchase affects a future value of BUCS. So increase in value is mathematical certainty and not dependent on unfounded bidding. While other crypto currencies are based on “finding a greater fool “ principle BUCS are not.There are many asset classes somebody could use to protect his current and future wealth. Money in the bank, art, jewelry, land, real estate property come to mind.
BUCS could be perfect way to preserve and increase wealth. Precious metals will never go to zero value. Quite opposite, they could increase in value dramatically due to overall currency, economical and political crises.