Golden Currency is the first completely gold-backed currency offered as a digital token. The gold backing will be made transparent and will be audited. The tokenization of gold makes it possible to leverage the benefits of a backed-currency in the digital era in a seamless manner.

Read on to learn about this project’s strengths.

Golden Currency SWOT Analysis

SWOT analysis sheds light on the potential of a project.

The mass adoption of cryptocurrencies is evidence that a growing number of people want to gain access to currencies that are not tampered by governmental intervention. Golden Currency’s strength lies in the fact that it is delivering a new-age value transfer that a growing number of people already seek.

Additionally, Golden is not the one to pave the market for digital currencies; this currency benefits from being the first mover in developing a completely gold-backed currency while enjoying the paved path left by previous digital currencies. Golden is entering an established infrastructure of digital currencies and carries it to a more trustworthy standard by providing a digital value storage that is backed by a trustworthy asset.

The cryptocurrency market is presently in a bearish market. One of the key early utilities of Golden Currency would be establishment as a stable coin. The development of a strong asset-backed stable coin would have received much welcome only a few months ago.

However, present market sentiment is rather pessimistic. Golden Currency would still be able to establish itself as a great new stable coin but its ascent would not be as fast as would have been possible during a bull market.

The cryptocurrency market has a valuation of 100s of billions of dollars and involve heavy trading on a daily basis. Despite these factors, the focus on developing asset-backed currencies has been minute.

Project targeting all kinds of markets are undergoing hurried development; currencies of all formats and functionalities are being put into motion. Interestingly, there has been little movement in stable coin development. Golden Currency has the unique opportunity of developing a coin that has limited competition in the cryptocurrency market; this is factor most projects cannot asset.

A gold-backed stable coin will play a vital role in the market and given that the number of exchanges is ever-growing, Golden Currency will have the opportunity of developing partnerships with a high volume of exchanges that will critically need a stable coin for high-demand pairs. Golden Currency has the ability to build partnerships in this competitive market as it has taken the opportunity to provide a utility that has been largely overlooked.

Wrap-Up: Golden Currency could have had a more advantageous start had it been launched earlier this year. However, the demand for currencies that do not face political intervention is growing and cryptocurrency projects have almost completely ignored stable coins. Consequently, there’s plenty of ripe opportunity for Golden Currency to exploit.