INTRODUCTION
Globalisation have made digital asset a necessity in the world today, this digital ecosystem have introduced smarter and more efficient value management and storage system called, blockchain technology. Blockchain technology on its own is refered as a decentralized, transparent, immutable, shared and incorruptible database network that can be leveraged to record and store value. It transparency help in improving the overall trustworthiness of the network, whereas its cryptographic support allows for highly-secure, yet cheap transactions to be carried out instantly. For some couple of years, blockchains technology was only limited to digital currencies. The market fully appreciated its potentials by venturing into decentralization of digital asset and storage.
Gold is one of the world’s oldest trading commodities, as society has used it for thousands of years. During its long-span history, gold served many uses. It acted as a superior payment method, trading commodity, and excellent storage of value. Today, the prevalence of gold as a payment method has decreased, yet people continue to seek it as an excellent monetary storage potential. However, purchasing, storing and trading gold is not easy. Complicated procedures, alongside high purchase requirements have led to a decrease in gold usage by the general population. Digital Gold represents a courageous and innovative project, meant to bridge the gap between gold and the digital ecosystem. This blockchain initiative will make gold tradable, and usable as a payment mechanism, thus removing the restraints imposed on the market.
WHAT IS DIGITAL GOLD?
Digital Gold is a blockchain-based project, designed to encourage the digitalization of the financial markets, and their afferent investment instruments Using ERC-20 Ethereum-based GOLD token to purchase coverage in physical gold to achieve it mission.
The main purpose of the Digital Gold project, is to create an Ethereum-based,
ERC-20 token that users can leverage to easily buy, sell, trade, store, or transfer
investment-grade gold. These actions can be carried out conveniently and
securely, while preserving user anonymity. client's can use this platform to instantly purchase the GOLD token, each coin being equal to one gram of 99.99% FINE gold that is stored in the company’s vaults. As such, the tokens enable users to indirectly use gold to make monetary transactions, or to leverage it as a wealth storage method.
COMPARATIVE ADVANTAGE OF DIGITAL GOLD
Secure: Digital Gold is online gold in the strict sense of the term and being that as it may every gram of digital gold that is issued will be backed by actual physical gold to the extent of 100 % of the quantity of gold issued. That means there is no proportionate risk for client at any point in time in the future. You can actually execute the entire gold buying or selling transaction within few minute without any complaints . The entire execution including the actual transaction, the debit to your bank account as well as the credit to your online Digital Gold account happens seamlessly. There is no involvement of physical gold at all in the entire process making the entire process largely peaceful and hassle free and all exchanges are irreversible because of decentralized structure of blockchain innovation.
Low Investment and operational Cost: with this blockchain initiative's clients can buy digital gold in the lowest fractions of grams. So it is almost like a mutual fund where you can invest very low amounts. This makes the Digital Gold accessible even to small and medium sized investors. Also since your gold is stored in electronic format and there are no risks and storage costs, it becomes more attractive for small investors. In fact, it offers a very smart way of participating in gold with small investments and as a hedge against the uncertainties of the market.
High Liquidity Ratio : with this initiatives customers do not have to consider waiting for local business hours for them to execute transactions since the service is available 24/7.
Liquidity is therefore available on demand, and the rates always closely match
current gold market prices. Token backer organization is a liquidity provider empowering buy and clearance of huge measure of tokens at near market rates.
Secrecy and privacy : Dealing with physical gold entails that users disclose personal information to remain in compliance with national regulatory frameworks. The general lack of standardization backed by the sheer amount of data collection, has led to the appearance of a society that is more privacy conscious.
Conclusion
For further clarification on the purchase procedure for the GOLD token, it is essential
Finally it is worthy to note that Digital Gold is not an Initial Coin Offering (ICO) as such, the management team is not in need of public-based crowdfunding to finance and launch the project. Instead, self-owned sources of funding will be used to finance this project.
For further inquiry and clarifications on this project, please do visit the links below:
Website: https://gold.storage
Whitepaper: https://gold.storage/wp.pdf
Twitter: https://twitter.com/gold_erc20
Telegram: https://t.me/digitalgoldcoin
Facebook: https://facebook.com/golderc20
Author's Details
Btt username : cryptoboss255
Btt profile link: https://bitcointalk.org/index.php?action=profile;u=2106798