There is no doubt that gold is a very expensive and precious mineral resource in the world at large, it has over the years been used as a means of making payment and a means of storing wealth for people who have what it takes to purchase it, gold is also used worldwide for setting currency standards and values and sometimes used for paying international debts between nations, the relevance of gold as a precious metal cannot be overemphasized as nations in possession of this great mineral do all it takes to ensure its protection and security. But then the use of gold as a means of payment is gradually decreasing even though it remains relevant compared to how it used to be the use of gold as a means of payment is decreasing although rich people still acquire gold as a means of storing wealth. The decrease in using gold as a means of payment can be traced to the risks and the very stressful procedures involved in the purchase of gold and in making transactions with gold, this decrease which is caused by certain factors such as lack of security, heavy bank charges, slow rate in transactions with the bank, lack of transparency, lack of trustworthiness, theft and bugle and limited number of transactions allowed by the financial institutions. These factors have discouraged a whole lots of people from participating in gold trading, but the fact that gold retains it relevant in the financial market still makes people invest in it. Designing a digital gold platform that will work with the blockchain technology will offer great level of solution to the barriers in the gold trading as blockchain has retain its reputation over time. The rise in bitcoin as the most valuable digital commodity is a hope for the digital gold to bring back the fine gold to the digital market community where it can be used as a means of payment thereby offering monetary values for the gold investors.
WHAT IS DIGITAL GOLD?
Digital GOLD is a blockchain based project which is designed to create Etherium based ERC-20 Token which can be used in making transactions such as buying, selling, trading and transfer of investment grade gold with great level of convenience, security and users privacy digitally.
BENEFITS DERIVED FROM DIGITAL GOLD
Great Level of Trustworthiness Digital gold platform is created in such a way that trustworthiness is guaranteed, it offers a fraud free and a trust worthy world market by it cross implementation with blockchain technology, digital gold platform is an Etherium based system and is bound to be worthy of trust for all the participants involved in transactions on the digital gold community, immutabilty of the system of transaction and transparency is for sure as well as decentralized system of transaction.
Consumer Acceptance of Gold
The inability of gold to replace money has made people to loose interest in investing in it but with the aid of digital gold using blockchain technology gold will become tradable again which means the market will be without bound.
Asset Security
With digital gold, security of asset is assured which solves the problem of people not wanting to buy gold for lack of security, most people don’t want to store gold at home because of the risk involved in doing so but with the blockchain based digital gold token backed by physical gold a very high level of security is achieved as digital gold cannot be hacked, the issue of tracking and illegally mining of gold is also handled by the platform using the blockchain technology.
Revolutionizing the Digital Market
Having gold a very precious commodity with great rele4vance coming on the blockchain technology which is seen as a very transparent and trust worthy transaction system for keeping assets digitally is really going to be a boost to the blockchain technology and as well attract more users of the technology in world at large.
CONCLUSION
All purchase and transactions shall be carried out using the Etherum based digital gold tokens it takes the form of stable coins, the token is also backed by physical gold stored in the company’s secured vault. A gold token will allow the user to buy one gram of 99.99% fine gold, with the token, transactions are carried out easily with great level of security.
For more information visit:
Website: https://gold.storage
Facebook: https://facebook.com/golderc20
Twitter: https://twitter.com/gold_erc20
Telegram: https://t.me/digitalgoldcoin
Bitcointalk: https://bitcointalk.org/index.php?topic=5161544
Whitepaper: https://gold.storage/wp.pdf
Author: Ajprotocol
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2539305