Gold is one of the earliest means of payment and storage and is known to appreciate in value. While regular gold investments take place on highly regulated stock markets with investors undergoing a tedious KYC procedure. With the advent of Blockchain, Digital Gold seeks to democratize gold investments and make it easier for users to access — buy, sell, and trade it.
Digital Gold eliminates the problems of complex paperwork, thefts, and huge broker fees bringing transparency to the gold market as one unit of gold is pegged to one gold token. Blockchain technology has low cost with seamless transactions that can be tracked on the Ethereum blockchain.
Challenges of Traditional gold investments
· Portability
The physical gold is known to be heavy requiring movement for safe keeping as it is not portable. The digital gold project changes all that as it makes transfers very easy and portable.
· Insecurity
Investors are known keep physical gold in bank’s safe/vaults for safekeeping as it is insecure to keep it at home. With Digital Gold, you can purchase as many gold as you want as its secured by the Ethereum Blockchain.
· Transparency.
Usually, purchasing and storage of gold has to go through a third party. The activities of third party also covers all legal paperwork including identity information procedures and trade. Most times, there are very low transparency in these dealings and sometimes, the gold purchased does not exist. With the blockchan technology, all Digital Gold transactions will be on the blockchain and can be viewed using a blockchain explorer like etherscan with all gold token bought having equal amount in physical gold.
The Solution — Digital Gold Token
Despite all inflations associated with world fiat currencies even in difficult financial disasters, Gold has proven to be profitable. Digital Gold has make gold investment and trading very simple as easy. Investing in gold is done via smart contracts which is verifiable on explorers.
Features of Digital Gold
· Low cost of purchase and storage
With digital gold, cost of transactions on the platform are low with users being charged 0.99% annual storage fees.
· Safe haven
Cryptocurrency market is very volatile with multiple up and downtrends. Gold has a relatively stable outlook and it’s a powerful addition to an investor’s portfolio.
· Secured ownership of gold
In buying gold, a reliable and secured supplier and paperwork are part of the challenges with getting and storing gold. Digital gold investors can safely store their gold through a partnership between the platform and Chubb Insurance Company. Thus preventing theft from cyber and physical criminals.
· High liquidity digital gold
Through the Digital Gold marketplace and exchanges, users can buy and sell different amounts of gold tokens. The marketplace runs 24/7
· Privacy
All investor’s identity and personal details are kept anonymous. All transactions done on the platform is safe with users identity kept private. Your privacy is a major concern for us.
For more information, you can check the following links:
Website: https://gold.storage/en/home
Twitter: https://twitter.com/gold_erc20
Telegram : https://t.me/digitalgoldcoin
Whitepaper: https://gold.storage/wp.pdf
Article Written By Thermytee
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1715288;sa=showPosts
