My name is David Dorr, and I’m the Founder and new CEO of Coro Global. You may have seen my videos on our YouTube channel or heard my interviews on popular podcasts – such as Palisades Gold Radio and The BigBiz Show.
For over 20 years, my brothers Brian, Cameron, and I have discussed the implications of a destabilized U.S. dollar on our country and our families. Since 1971, when President Nixon removed the United States from the gold standard, we’ve seen the purchasing power of the U.S. dollar drop 97%. This has had devastating consequences, including the loss of the middle class, reduction in real wages, loss of savings, diminishing income, higher debt levels, and the ongoing overconsumption of natural resources.
Money is a critical element of society. It’s the “magic” tool that allows each of us to voluntarily cooperate with one another and freely exchange goods and services, providing a medium for creativity – to bring ideas, literally, into being. For most of us, it accomplishes this without a second thought. For the leadership and technical team here at Coro Global, it’s not quite so simple.
For me, it comes down to three simple money “lessons”:
Lesson 1 – Money is a Magnifier
Many of you may have grown up in households where money was scarce. That was certainly the case for me and my brothers. Some of you may have even come to resent money or those that had it. I’d like to share with you a different interpretation, one that is key to understanding Coro Global’s mission, vision, and values.
Lesson #1 is that money is neither good nor evil – rather, it is a magnifier that amplifies your good and/or bad traits. I suspect you’ve all seen enough of this to know exactly what I’m talking about.
Lesson 2 – Society requires sound money
Every day, we hear economists and politicians flexing their intellectual muscles as to how economies work. We rarely hear from them, however, when they are proven wrong over and over again. Success in academics and politics is not successful in the real world. The correlation between wealth and IQ has been frequently determined to be about 1%.
MMT or Modern Monetary Theory posits that governments can print money with little to no consequence. Tell that to the community of Venezuelans living in Miami. Lesson #2 is that society demands money to be sound; based on reality. Sound money is gold. Gold is real; the promises of politicians and professors are not.
In future letters to you (and some of the video content we’re creating), I’ll expand on these themes and connect the dots so you can understand how sound money is synonymous with a sustainable planet.
Lesson 3 – A sustainable planet requires sustainable money, and sustainable money is sound money
The third lesson about money is that if we are to have a sustainable planet, we must first have sustainable money. There’s a lot to unpack in that simple sentiment, so I’m going to save those details for future correspondence.
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With these three lessons in mind, let’s talk about Coro Global. I’ve been fortunate to work with my brother Brian for nearly 20 years. He is the Co-founder of Coro Global and has taken the COO position to continue leading alongside me.
You might be curious to know when the idea for Coro Global was born. In fact, it was right after Bitcoin was born. Bitcoin was and remains an incredible invention. It was created as “digital gold” that couldn’t be controlled by anyone and could move freely across borders. Brilliant!
Unfortunately, when we started to dig a little deeper into how blockchain technology works, we quickly discovered that while Bitcoin was making a tremendous contribution to computer science it was best viewed as a first draft, in need of substantial improvement(s) before it could truly be considered “digital gold.” And for us, the biggest drawback was that it ignored Lesson #2 – it wasn’t real, so it wasn’t sound.
We spent the next seven years carefully studying the technology advancements of distributed ledger technology (the “blockchain”), watching for our wishlist of improvements to be made. When Dr. Leemon Baird invented the hashgraph consensus algorithm, we knew that the time had arrived to combine the physical aspects of gold with distributed ledger technology to make the money for today – and tomorrow. This was a real opportunity to bring gold back as money, and more importantly, through technology, to make it accessible to everyone.
That’s CORO’s mission: to democratize access to gold as money.
I’m grateful to my predecessors for steering the company through its startup phase, and for them passing the baton to Brian and me to lead the company into the next, critical phase – growth.
Brian and I couldn’t be more excited to deliver on this mission, one that we dreamed about over family dinners more than two decades ago, now.
From our family to yours, thank you all for being on this journey together with us. We are just getting started!
Founder & CEO
Coro Global Inc.