DIGITAL GOLD – DIGITALIZING THE COMMON GOLD.
Gold is a natural mineral that is mined due to the special property it possesses such as durability and of course for its monetary value, gold have been known to be one of the most important and expensive mined mineral, beiing a scarce resource also contributes to it being expensive. Over the years gold have advanced from being a common mineral to a type of currency, this is because the modern day trading markets such as Forex has trading pairs of gold against other major currencies. This was actually a good advancement for gold but it has become a traditional thing now, gold should be more than just a tradable entity, it should become something anyone could easily buy, hold and even make payments with and not just something for a selected few. Gold needs to become fully digitalized.
A solution to this has been designed known as DIGITAL GOLD that utilizes the Blockchain Technology in order to solve the issue facing gold. Digital Gold is a blockchain-based project, created to encourage the digitalization of the financial markets, and their various investment instruments and It hopes to achieve this by enabling users to purchase coverage in physical gold, through its special
GOLD TOKEN which is based on the ERC-20 Ethereum platform.
The blockchain technology have been known to properly adhere to issues of this kind as it holds special benefits such as fast transaction speed, provides and guarantees security of assets and data and lastly it is a transparent network.
The integration of the Digital Gold platform with the blockchain technology will enjoy the benefits presented by the blockchain and also make the platform a digital marketplace where Gold tokens can be sold or bought.
Now back to Digital Gold, how will individuals easily purchase and store their own Gold?
The Digital Gold platform has its unique internal cryptocurrency known as Gold Token and each token is equal to one gram of 99.99% FINE gold which is stored in the company's vault so, you will have to do a little bit of math to know how many FINE gold you want to keep. This means that when a user owns any amount of Gold Token they automatically have gold saved up for them in the company`s vault also the tokens allow users to indirectly use gold to execute financial transactions, or to leverage it as a wealth storage method and it does require very simple steps to achieve. Another interesting thing about the Gold token is its assured price stability and this is because it is controlled with the value of the gold spot price and because the value of gold Exchange-Traded Funds (ETFs) exceeds the $100 billion threshold it adds to the further assurance that Gold token price would hardly crash thus making it a good form of investment as well.
The integration of Gold with the Blockchain Technology is proof that the blockchain has the potential to revolutionize the financial market, showcase the benefits of this unique technology and at the same time making this Gold digitalization increase its global appeal and the Gold Token and the Digital Gold marketplace won`t be left out of this amazing revolution.
For more information, refer to the links below;
Bitcointalk username: Beneze
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2190968