An account of commerce history over the years and centuries past seemed to have portrayed gold as one of the major commodity for exchange and its value have only continue to get better because it’s a major store of value as well as a chased-after ornament; but with the evolutions in money as a much more better means of payment the prevalence of gold as a payment method seems to be winding down due the attendant challenges and risk in its purchase, storage, trading and complicated transactional procedures/requirements. But nevertheless one cannot still bluntly deny the fact that gold is still very much a relevant factor in the international financial space and asset market today.
UNDERSTANDING THE DIGITAL GOLD PROJECT
GOLD token give users for the first time the ability to easily carryout anonymity trading. Digital gold is has in it a number of very powerful features that can aid the use of blockchain for the digitalization of asset through the purchasing of gold using token. The Digital gold will:
Ensure customer accessibility to low-cost token with no transfer fees attached, the digital gold token leverages on the Ethereum ERC-20 support to ensure an easy sending of tokens to anywhere, any day and anytime with no fear of incurring exorbitant transfer cost, the low-cost token also eliminate the need for limited payments Although users are expected to pay a very minimal gas tax charged by Ethereum on transfers. In other to ensure the sustainability of the project and also the full commitment of the user,digital gold charges annually a very minimal 0.99% on storage which is quite minimal when compared to the cost charged by erstwhile contemporaries like banks & depository
Security of wealth/risk: the major challenges of most crypto based investment ranges from price volatility but gold in it's natural form enjoys a stable price factor that is unparalleled & so the digital gold leverages on this stable price factor to digitalize the ownership of good for more number of people at low cost, full security, unsusceptible to poor market fluctuations/regulations & hedge against inflation.
Hassle free, secured and efficient gold ownership mechanism: for the first time digital gold is poised towards eliminating the hassle and bustle of purchasing, processing paperwork’s and securing gold with its gold token customers can actually purchase coverage in actual gold, that are safely stored inside the company highly secured vaults, with requisite insurance cover (chubb insurance), the security of ownership is further intensified with incorporation of blockchain security features that makes the system impervious and unsusceptible to any form of cyber attacks. there are also mechanisms in which 100% of tokens are covered with an equivalent physical gold, in other words the amount of token is equal to the amount of physical gold with modalities like bullion star audit reports for users to easily confirm/verify.
CONCLUSION
The digital gold project is a blockchain oriented project that is designed to foster the digitalization process of the financial markets by giving users a digitalized blockchain coverage in physical gold through the ERC-20 ethereum based gold token, it comes with it a plethora of superfluous advantages and is compatible with wallets like MyEtherWallet, MetaMask, Guarda, Ledger Nano S and Trezor.
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: Deathproxy
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=58767