Gold: this precious metal has been used to keep wealth relatively stable through times of economic uncertainty. We all know that Gold market is ever flourshing and always gives value to it buyers and investors but buying gold isn’t convenient, It is only available in fixed amounts, so accumulating it can be costly. Add to that the hefty locker charges you pay to store it.
Many crypto-enthusiasts seriously believe that bitcoin, or another cryptocurrency, will replace gold as the primary store of value on the economic world stage. However, these digital assets can be linked with physical assets such as gold, rather than replacing them.
What this means is that instead of a lot of paperwork and all, you could buy a stake in gold — real world bullion that’s in a vault somewhere — but that ownership would take the form of a digital token held in a digital wallet.
Alot of improvements, innovations have been linked to the Blockchain technology and since its inception its been used in transactions and storing digital currencies like bitcoin etc because of its immutabilityand very strong and dynamic database.
Blockchain can be used as the intermediary between Gold and the crypto world. How great would it be if you could buy and store your gold easily?
Solutions Digital gold brings.
With digital Gold we can attain this feat. This is a new development for blockchain…one of the first of its kind. Alot has come up with almost the same idea but Digital Gold is promising and the most ideal of them all. This brings the capital world to the digital world where you can purchase gold token equal to 99.99% of fine gold for each token and can be stored digitally.
The main purpose of the this 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 which can be done anonymously with unlimited number of transactions. This token which would be backed by gold physically so its as stable as gold.
One GOLD token will allow users to purchase coverage of 1 gram of 99.99%
FINE gold and all gold purchased via the GOLD
token is stored in the company’s secure vault, in partnership with BullionStar.
GOLD ERC-20= 1 gram of gold which is 99.99% FINE
Using digital gold comes with a lot of added values but permit me to tell you about the core ones
- No cost fees other than the usual gas fees for erc-20 based transactions
- Gold can be stored digitally and anonymously
- Ease of buying gold and the safe storage digital gold offers.
- Access to high quality gold and much more
Digital gold token can also be stored in diverse toke compatible wallets which includes
- Trezor
- My ether wallet
- MetaMask
- Guarda
- Ledger nano s
And many more.
Conclusion
With digital gold there would be and easy buying and selling of gold, Safe and secured transactions and no restrictions. All this is through blockchain which is the future of the finance sector.
Other important links and also useful information can be found here:
Official Website : https://gold.storage/
White paper: https://gold.storage/wp.pdf
Twitter: https://twitter.com/gold_erc20
Medium: https://medium.com/@digitalgoldcoin
ANN thread: https://bitcointalk.org/index.php?topic=5161544
Writer’s details
Bitcointalk username: chucho4o
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2515427
