In the current fierce global economic environment, if the central banks of the countries take conservative attitude toward the digital currency, they possibly will be left behind by the high-speed train of digital financial technology.
Libra, a fed-backed program run by Facebook, is viewed conservatively by some governments, such as Iran, which seized 1,000 bitcoin mining machines in recent days and banned trading in mining. However, more countries are gradually relaxing their policies and entering this innovation with a more positive attitude.
Changing times and technological advances are pushing people to move to online mobile payments, reducing the amount of cash in circulation. Asian countries such as South Korea, China and Singapore are leading the way in pushing electronic payments over cash. The digitization of money will become a trend, but the fiat money with the state’s credit endorsement is still affected by inflation, economic crisis and other unstable factors.
Over the millennia, the world’s consensus on money has coalesced into gold and silver. Because gold and silver meet these characteristics: small size, high scarcity, great value, easy to partition, uniform quality, stable chemical properties, not decay, easy to carry, difficult to forge, etc.
Therefore, people all over the world, regardless of their cultural, ethnic, religious or political differences, have always accepted gold and silver as a recognized hard currency. As an independent precious metal resource, it is also the investment with the lightest tax burden. Many investors choose to invest in gold coins, bars and other gold products to combat inflation and avoid risks. The interaction between future market risk and economic growth will drive demand for gold, which will play an increasingly important role in the portfolio.
In the traditional sales method of the gold industry, the concentration of the store market is low, resulting in low efficiency and high cost in acquiring customers. Besides, traditional gold is difficult to cover ordinary citizens due to poor liquidity, insufficient investment convenience and poor exchange channels. Traditional gold products are also difficult to realize, and have various other limitations, like high investment threshold, complicated trading, price differences between buying and selling, and incapability on the gold price link in real time.
AurumOx Protocol applies blockchain technology to digitize physical gold , uses the characteristics of blockchain technology in the entire industrial chain of gold production, processing and trading, and builds a golden digital ecological chain, which is superior to gold in characteristic and perfectly releases the liquidity of gold.
The public chain system of AurumOx Protocol adopts advanced blockchain technology to realize the digitization and warranting of gold. We set the main network pass (Token) to GGEC (Global Golden Exchange Coin), which will be permanently anchored with gold (100GGEC=1g gold). GGEC is the first important asset communication Token to be published in AurumOx Protocol.
AurumOx Protocol issues a gold asset token called “GGEC”, which achieves an absolute anchor with physical gold quality of 100:1 and provides consumers and investors with absolute anchors of physical assets under the principle of compliance and legality. GGEC uses the blockchain technology to realize the digital application of physical gold, forming a global circulation alliance mechanism, and through the circulation of digital token，constructing an innovative application ecosystem based on physical gold.