It has been proven in ages that investing in Gold is a reliable investment with less risk when compared to other valuable assets. Even global currency value rely on foreign reserves this precious Metal deposited in World Bank. Gold is more popular than other precious stones like diamond though the later is a little expensive than gold but diamond is not being used as standard of money like gold because diamonds is very hard to find and it is not that much like gold.
Money has evolve through many stages and the age way we are now is the age of digitalization that has also digitalized money and in this, gold also shouldn’t be excluded and this is the reason why am writing this article to discuss my view about a blockchain project that is digitalizing gold by blending it with crypto assets, the name of the project is Digital Gold.
As we know that blockchain has proven itself to be one of the sophisticated innovations out there that is determined to disrupt almost all industries. Part of the benefits of blockchain is the birth of new decentralized payment and investment system which lead to the creation of many crypto assets out there like Bitcoin and many other cryptos but as I said before, the focus of this article will be about Digital Gold not any other cryptos.
Digital Gold is a crypto token whose worth is in direct equivalent to the worth of real physical gold. The price of one digital coin is equivalent to one gram of real gold. This is well explained here.
One of the weakness of crypto that its critics always talk about is high volatility & this has make it not to be widely accepted as a medium of exchange as it should be but with Digital Gold which is directly equivalent to gold which is a stable real tangible assets, the issue of volatility will be easily solved. We have seen this before with some stable coins out there like USDT, TUSD & many mor
About Digital Gold
A Gold token is a age crypto asset known to be a stable coin that is backed by real physical gold stored in a secure and auditable vault storage. It is an ERC20 compliant token, so the issue of straightforwardness, anonymousity, security, and stability is exactly what the project offers to crypto enthusiasts & precious gold investors.
The company behind this amazing concept is DIGITAL GOLD LTD which is fully registered in St. Vincent & Grenadines. The team is made up of skillful & experienced professionals in the field of banking, finance, legal, wealth management, IT and blockchain.
The mission of this company is to come up with a highly liquid, simple to use and non volatile token on Ethereum blockchain and backed by real physical gold. The platform will be a major solution in providing a comprehensive solution which gives investors an opportunity to always hedge their crypto assets against crypto instability, & also opportunity to invest directly in digitalized gold.
The company is committed to building a fiat-less business model by working with cryptos and gold assets thereby avoiding fiat-like currencies like USD, NGN, YUAN & others. With this approach, they will be able to reduce risk, costs and offer a secured liquidity and storage platform to holders of Gold token.
Security Precautions
Digital Gold team has done so much in building this platform, they don’t just come out of nowhere to do it. They do so by obtaining professional advice from experts in legal, tech & finance fields. The team has a comprehensive security measure in the creation of a smart contract after testing it so many times.
The smart contract used by the platform was created by a company that has developed over 100 products in blockchain & exchange platforms. The management of this smart contracts is available only to the top team members of Digital Gold project.
Benefits
1 Token = 1 Gram Of Gold 99.99 Purity
As I said before, all the Gold tokens are backed by real physical gold stored in a well secured gold vault. The vault is audited in real time & can be verified by anyone online.
The token is an ERC20 on Ethereum blockchain & the amount of it in circulation always equal the number of gold bars stored in the vault.
High Liquidity
The company that created the token is a liquidity supplier which help in buy and sale of huge volumes of the token at a price very close to the market price.
Holder of the token can easily sell it or even buy more on the official website of the project or partner crypto exchanges.
No Transfer Fees
When transacting with Gold token, you don’t need to pay transactions fees even if you made multiple payments and with this many will be eager to make the token part of their daily routine or regular business transactions.
Low Cost
The cost of having or holding gold token which is backed by real physical gold is far cheaper than holding real gold which makes it a better alternative when trying to invest in gold.
Secure
As I said before, the Gold token is backed by physical gold which is verifiable. The amount of gold bars stored is also equivalent to the number of tokens in real-time. All transfers on the platform are irreversible & no one can block or limit his account because of the decentralized nature of the amazing blockchain innovation.
Privacy
You don’t need to reveal your identity before you can buy Gold token which is backed by real gold. This is not possible when trying to buy gold because before doing so, you will have to reveal your identity & this make not to be enticing to those that are not ready to reveal their identity but with Gold Tokens, all they need to do is to provide their erc20 wallet address to buy it.
Useful Links
Website : https://gold.storage
Whitepaper: https://gold.storage/wp.pdf
Twitter: https://twitter.com/gold_erc20
Facebook: https://www.facebook.com/golderc20
Telegram Group: https://t.me/digitalgoldcoin
