Share Talk spoke with Cameron Parry, Chief Executive Officer of @tallymoney and we asked him a few questions about the company since they last updated the market. In this twenty-minute interview, we cover a lot of topics.
TALLY LTD, the money innovator and developer of the full reserve banking platform and physical asset currency, Tally®, provide information to shareholders about the Company’s activities and objectives planned for the first 12 months from initial product release.
Cameron Parry, Chief Executive Officer, commented: “I am pleased to report that there are nearly 1,000 Tally® account holders currently and this has been achieved mainly through organic growth since the App was released in mid-June.
“I am also pleased to report that the Company has completed a successful pre-Series A capital raise from private investors, and we are thankful for their support. We continue to also be appreciative of our existing shareholders, who have been patiently bearing with us as TALLY has grown its product offering and business scope. And we are mindful that the revised timeline needed to list the Company’s shares may be disappointing or frustrating, but we must continue to focus on achieving relevant milestones in order to deliver a successful IPO.
All shareholders are welcome to make an appointment for a phone call or in-person meeting with myself if they’d like to discuss any issues they may have – please contact firstname.lastname@example.org to do so.
Tally is the name of the platform and also the name of the currency. 1 Tally = 1 milligram of vaulted gold. Therefore, using gold as the 100% physical reserve means your wealth is protected from inflation and bank risks of the fiat currency-based banking model.
However, it still offers the familiar usability of a personal bank account and contactless debit card. At time of writing 1 Tally = 4 pence, or put another way, 25 Tally = £1.
Tally accounts are also protected to 99% of the full value if the worst ever happened to the company behind Tally, not limited to £85K like most bank accounts, meaning all your savings are protected (less a 1% cost) no matter what happens.
You can transfer funds to your personal banking accounts like any other regular account. These automatically convert to Tally gold, owned by you and kept in a secure vault in Switzerland on your behalf. You can save it or spend Tally seamlessly every day, at home and abroad, through a Mastercard® debit card.
What makes Tally groundbreaking is that it offers the everyday usability of a traditional banking account linked to a physical asset for the first time. Consumers use individual banking accounts with full debit cards, not pre-paid cards. Most importantly, Tally offers consumers an alternative choice to currency that isn’t a cryptocurrency.
The value of Tally is directly linked to the global gold price, so you get that rate with no additional fees or mark-ups, making Tally one of the easiest ways to buy and hold gold whilst still maintaining instant access and flexibility, like cash. Whilst it’s true that the price of gold does fluctuate against fiat currency (such as the pound), historically gold has proven to hold its value – certainly against government issued currency which is designed to lose value (inflation). And with gold on a bull run at the moment there has never been a better time to add some gold into your portfolio!
There is a single monthly charge of 0.1% of your average monthly holding which covers storage, security, insurance and operational costs. Any holding above half a million Tally (t500,000) is charged at 0.05% meaning it’s great value to use a better form of money and no more hidden bank fees and charges.
Tally is as easy to use abroad as it is in the UK. Also, there are no international transaction or FX fees, no mark-ups on the FX rate and no charge for ATM withdrawals. As Tally’s value is based on the gold price, it doesn’t suddenly drop in value as you are just about to go on holiday like the Pound can do, protecting your spending power. And Tally is accepted globally wherever Mastercard is, so buying coffee abroad is the same as buying it at home.
As a special treat for Share Talk readers, we’re giving you 200 Tally (worth £8.12 as of 11:00 29/08/19) when you sign up to Tally!
Just use the code ShareTally when you sign up
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