German Sterligov, a Russian businessman known for the fact that he sells the most expensive bread in Russia (almost $25 a loaf), decided to get involved in cryptocurrencies. One may wonder how a man who stands against the Internet and calls for cutting off power supply all over the world came up with an idea to introduce his own digital money.
Mr. Sterligov established his first commodities exchange in the early 90s. Recently, he has founded a crypto exchange. However, this project failed, so the extraordinary businessman, who thinks that all scientists are wizards, decided to create the CryptoSterling. According to Sterligov, this is going to be the first ICO that will be backed by silver. One CryptoSterling is equal to one silver sterling the price of which is linked to silver price on the London Metals Exchange. Mr. Sterligov said that the crypto exchange was closed as silver coins have finally been minted. The businessman plans to open a grocery store at the former exchange. Sterligov’s cryptocurrency is already traded on the Waves platform. Besides, the CryptoSterling is expected to be introduced on other platforms in the nearest future. Sterligov plans to mint gold coins as well. Their price will also be linked to gold price on the London Metals Exchange.
Though Sterligov claims to be a real patriot, he links his CryptoSterlings to the sterling but not the Russian ruble. It may seem a bit illogical, but who cares whether he sticks to his principles or not when it comes to implementing great business ideas.