Why invest in Gold
Gold is a universally-recognized means for investors to preserve wealth and protect against financial calamity including inflation, currency fluctuation, market collapse, and societal unrest. However gold is expensive to purchase, transfer, and store.
Given a price rise of over USD $1,000 since the turn of the century, it’s no surprise that investor interest in gold continues to grow worldwide. Gold also tends to go up when other investments decline, providing a stabilizing effect for your portfolio.
Gold is a bulwark against inflation. You don’t have to pay capital gains tax until you sell.
Nobody has to know you have it – if that matters to you.
In worst-case financial scenarios, such as massive currency devaluation, you can use gold to buy and sell. That may sound crazy – but it has definitely happened in other countries.
Cons of owning physical Gold
The risks of it been stolen
Add to that the hefty locker charges you pay to store it.
Lots of paper documentation. And so on
Gold meets Blockchain
Gold is not practical to deal with in today’s global markets, because it’s really cumbersome. Using blockchain, major problems associated with trading and storing gold are being fixed. Blockchain enables transactions to be highly secure, whilst dealing costs virtually disappear.
Gold-Asset management on-the-blockchain holds great potential in reducing friction and enabling trusted transfer of digital gold tokens, transactions & settlements. Blockchain as public distributed ledger technology allows for immutability and transparent accounting of all transactions, a forge proof record of transactions is stored on thousands of nodes across the world so that it is practically impossible to manipulate or more importantly fraudulently change ownership records. My personal belief is that blockchain tech will usher in a new level of transparency & security which will add significant value to the gold industry whilst increasing the number of participants leveraging gold as an asset.
Digital Gold
This is a new innovation brought by a very innovative team…the Gold token. Allow me to bring to you the best and easiest way you can securely buy, store and make payments in gold digitally through Digital gold using the gold token.
Digital Gold is a cost-effective, convenient, and secure way to invest in physical gold using digital speed.With Digital Gold, you receive the stability and wealth preservation of physical gold and and cost-efficiencies and speed of technology.
The main purpose of the this project, is to create an Ethereum-based ERC-20 token(gold token) that users can leverage to easily buy, sell, trade, store, or transfer
investment-grade gold which can be done anonymously with unlimited number of transactions. This token which would be backed by gold physically so its as stable as gold.
What Digital Gold offers (solutions).
Using gold token or digital Gold solve a lot of problems faced in investing in physical gold. I mentioned why i wont like to hold physical gold earlier but with the amazing idea of digital gold i am willing to stake all in this.
-With One GOLD token users can purchase a coverage of 1 gram of 99.99% FINE gold and all gold purchased via the GOLD token is stored in the company’s secure vault, in partnership with BullionStar.
-It solves the problem of theft as only you owns your gold token in your secured wallet.
-Securely stored in your own wallet(metamarsk, imtoken, Trezor wallet, my ether wallet etc)
-Secured, safe and swift transaction.
-Ease of trading through the platform
-A low-cost token that entails no transfer fees
-GOLD ERC-20 token= 1 gram of gold which is 99.99% FINE
-Ease of trading Gold
Apart from being a stablecoin, the GOLD token is an ERC-20 compatible token
that is based directly on the Ethereum blockchain. This means that users can
expect to leverage all of the advantages associated with the Ethereum blockchain,
including instant transactions, immutability, fund security, automatic records,
and smart contract functionality.
Conclusion
Digital Gold is the future and with the blockchain technology it is bound to break limits set in the past. Alot have come like this but Digital gold brings a kind of innovation like no other.
The Ethereum-based blockchain provides a degree of trustworthiness that many
other cryptocurrencies fail to achieve and with this its is bound to surpass all expectations.
Other useful links:
Official Website : https://gold.storage/
White paper: https://gold.storage/wp.pdf
Twitter: https://twitter.com/gold_erc20
Medium: https://medium.com/@digitalgoldcoin
ANN thread: https://bitcointalk.org/index.php?topic=5161544
Writer details
Author: Sheymus
Bitcointalk username: Sheymus
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2506913;sa=summary