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DGC
January 2012 #50
An Interview withDr. Douglas Jackson
 
6 § DGC Magazine January 2012 Issue 50
tension – reconciling the benecial monetary prin-ciples with the requirements and realities of govern-ment regulation – has generated a much more sophis-ticated synthesis.In other words, the intellectual property underlyingthe e-gold system continued to evolve. My hope isthat one day soon this robust IP can be licensed toa nancial institution or agency, whether new or established, that is fully acceptable to regulators andlicensable in the various jurisdictions.
(Q) Is there any plan or chance that your originalcompany e-gold Ltd. will come back into dailyuse as a licensed and regulated payment systemhere in the US or perhaps somewhere else in theworld?
(A) No. e-gold Ltd. and G&SR, the company that did business as OmniPay®, are in the process of beingwound up.That is not to say however that the monetary principlesthat e-gold® embodied—both as amedium of exchange and a valuetransfer mechanism—have beeninvalidated or will be abandoned.The core concepts weresubstantially rened during theten plus years the e-gold systemwas operational. In many respectsthese renements involved precisedelineation of how e-gold wassimilar to, and how it differed, fromgovernment monetary authorities.From a dialectic perspective onecan regard those principles asthesis.The ordeal of criminal prosecu-tion, though a personal tragedy for me and my fellow directors, endedup serving as a powerful and ulti-mately productive antithesis. The
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“The ordeal of criminal prosecution, though a personal tragedy for me and my fellow directors, ended up serving as a powerful and ultimately productive antithesis.” 
 
8 § DGC Magazine January 2012 Issue 50
4 months back on August 12th, the we read thefollowing post on the e-gold blog: e-gold ValueAccess Plan – Monetization Preparation. Thispost outlined what appears to be most of the
nal steps in the “Value Access Plan” or “VAP”
whereby the value of precious metal remaining ine-gold accounts would be distributed back to the
rightful owners. “The agreement identies three
distinct groups of value: Criminal Proceeds Value
(“CPV”), VAP Value, and Residual Value and sets
forth the process by which each of these values
will be monetized and distributed.” I know you
had worked very hard on this plan to distributevalue back to those original e-gold accountholders.(Q) According to gov. documents,[1] there were609 accounts holding a value of about $8.6million which were linked to criminal activity,labeled CPV and forfeited. If I remembercorrectly, that should have left about $80 millionin account value, most of which could then beclaimed and distributed back to the originale-gold account holders. Here we are today, 4months later, can you share with us how much of the left over value (approx $80 million USD) hasmade it back to the original account holders?
(A) This arrangement with the government isunprecedented; it involves the appointment of a federal claims administrator and requires theexecution of multiple steps. Of course, I never wouldhave guessed it could take this long. But the processwas complex and extra care was taken to ensure thequality of the bullion being sold conformed preciselyto specications long published on our Examiner  page.
(Q) Do you feel that the recipients, the original
e-gold account holders, are satised with the
government’s distribution of their funds?
(A) The distribution of funds pursuant to the VAPhas not yet begun. We anticipate that a number of account holders may get frustrated with the processonce it begins if they have not yet completed the morerigorous Customer Identication Process that is nowrequired. We understand some may be reluctant untilthey are condent that value will actually be returned.I can only hope that once distribution gets underwaythat the remaining account holders step up to validatetheir identity and claim what is theirs.
(Q) Will the e-gold system remain online after the
nal distribution of these remaining funds?
(A) The e-gold system has not been operational for three years and it will not resume operations after thenal distribution. As I noted earlier, we hope the IPwill be licensed by an unafliated third party and thetrademarked term “e-gold®” used. Of course, thiswould require the licensor to undertake appropriate branding and reputation rehabilitation strategies. Itwould also be nice if there was a pathway enablingsomeone eventually to be able to resurrect the slogan“e-gold: Better Money since 1996”.
(Q) Are their any plans to work with anothercompany licensing your technology?
(A) Yes, we are in negotiations to license the IP butno deal has been signed. A major factor in concludingsuch a deal is the ability of the potential licensee toobtain regulatory approvals to operate the systemusing the IP.
(Q) At this time in the history of the UnitedStates, January 2012, do you feel that digital goldcurrency is more important or less importantthat it was in the late 1990’s when you startede-gold Ltd.? Why?
(A) Before answering I have to point out that I willalways cringe when I hear the term “digital gold
“Yes, we are innegotiationsto licensethe IP but nodeal has beensigned.”
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