GOLD AS A DIGITAL ASSET! – Aunty jmary
Introduction
Many rich people in history pride themselves with gold as being their greatest asset.
The value of gold has increased over the years since ancient times. Having gold also comes with associated challenges such as accessing, purchasing, and securely storing it.
In recent times, most people buy gold for investment purpose. One of the many functions of gold on the forex market is to serve as a store of wealth aside being used for trading purposes. This is very clear in how people see the appreciation in the price of gold . Gold used as a store of wealth and relative price stability can easily be used to serve the cryptocurrency market which is highly susceptible to volatility in prices. A good comparison can easily be used to check the price fluctuation of Bitcoin(BTC) and Gold within the last few days. The relative stability in the price of gold can serve the cryptocurrency market with some real good stuff.
DIGITAL GOLD
Possession of physical gold comes with it’s associated risks hence it is a good move to go for a project that allows individuals to possess digital tokens that are fully backed by physical gold.
DIGITAL GOLD as a project makes use of blockchain technology in tokenizing gold to create Ethereum-based tokens in accordance to the ERC20 protocol. The tokens are known as the Digital Gold Token(GOLD). This provides great liquidity for physical gold of high purity(99% FINE gold) that are safely stored in the company’s vault.
No need to worry about the authenticity of the vault as it is audited by an independent firm known as BullionStar with which the project has entered into a great partnership. This will ensure great transparency and also verify the number of tokenized gold stored. Anytime any gram of gold is tokenized, an equal amount of gold is physically placed in the company’s vault and this can be verified at any point in time. More information can be found on; https://gold.storage
The process of buying gold is controlled by smart contracts and decentralized infrastructure of the blockchain, transaction details cannot be easily altered, this ensures further accountability and transparency.
Digital Gold Token
Each Digital Gold Token(GOLD) can be equated to one gram of 99.9% FINE gold, hence, the price is equal to the price of one gram of fine gold. Since gold as an asset is traded actively across numerous markets, its price is fairly stable. The spot price of gold is used in real-time in the trading of GOLD, ensuring that the price of GOLD is in compliance with the real-time price of gold.
GOLD provides numerous advantages both to the market of gold investors and the cryptocurrency markets, some of which are highlighted below:
DIGITAL GOLD LIMITED being a liquidity provider, provides large volume transactions(purchases and sales) using the marketplace of the Digital Gold platform — the Digital Gold Marketplace, and exchanges where Gold tokens are listed. Hence, there is always a ready market regardless of the nature and the volume of gold tokens involved in any transaction.
There is always high liquidity for the safely stored physical asset(gold).
GOLD securely stored in the vault can still be used for active trading digitally. GOLD can be used to make purchases, settle debts and ensuring that the physical asset is safely stored away, thus its value as a means of exchange and settlement is still maintained.
Again, there is great protection against the price volatility on the cryptocurrency market.
The cryptocurrency market is always susceptible to price fluctuations, this can easily be seen in the market capitalization. Holders of cryptocurrencies are able to profit from the market growth however, in the case of negative market conditions, the losses can be very devastating to all holders. With Digital Gold platform, these loses can be minimized since the price of gold hardly fluctuates or deprecates.
Digital Gold platform allows users to securely purchase or own gold.
Buying of gold usually requires a lot of bureaucracy, aside the cost of securing the physical gold itself. The GOLD token makes it very simple for investors to buy real gold conveniently and anonymously online without any stress of running up and down or legal paperwork.
Making of transactions on the Digital Gold platform also comes no charges.
The GOLD token as issued on the Ethereum blockchain network can easily be transferred without any payment of transfer fees required by the platform except the gas fees charged by the Ethereum network.
Conclusion
It is worth noting that within the blockchain space where most projects enter into the cryptocurrency market in a form of crowdfunding (ICO, IEO, STO), Digital Gold is a project which is fully self-funded. Usually new projects raise funds through crowdfunding to create or develop some form of service or technology that may or may not be of importance to the cryptocurrency ecosystem. At the end of the day, most of these projects end up as scams. DIGITAL GOLD provides the cryptocurrency space with the right gateway into the gold market while providing good liquidity for the gold market by making it available to the fast-growing cryptocurrency market.
As blockchain technology advances, the tokenization of physical assets such as gold will continue to experience further adoption due to the reduced risks that comes with having digital currencies that are backed by physical assets such as gold. This is a great chance to become part of the future of stable coins by sticking with Digital Gold at it’s early stage!
For more information about Digital Gold, please visit:
Website : https://gold.storage
Whitepaper : https://gold.storage/wp.pdf
BTT ANN: https://bitcointalk.org/index.php?topic=5161544
Telegram : https://t.me/digitalgoldcoin
Twitter : https://twitter.com/gold_erc20
Medium: https://medium.com/@digitalgoldcoin
Reddit: https://www.reddit.com/r/golderc20
PROOF OF AUTHORSHIP
https://bitcointalk.org/index.php?action=profile;u=2511518
Published at Thu, 30 Jan 2020 11:23:01 +0000
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