Gold, probably is the first metal discovered by prehistoric humans. According to archaeological finds, gold discovery and usage dating back to 4000 years ago. However, due to the limited resources of gold, mining is too difficult and money/time consuming, to the extent that even low-grade resources (with one part per two million parts) of gold can be economically extracted too. As a result the amount of gold mined so far can be easily accommodated in three Olympic swimming pools.[2]
But, a decade ago, a serious competitor for gold was appeared: Digital Currencies.This new creature, which had many basic differences with gold, was welcomed by investors and traders in a short time and became a true warrior against gold.
Despite the structural differences between gold and digital currencies, they are very similar: Both of them are valuable because they have limited resources, 2nd similarity related to their wide popularity , also over time mining of digital currencies become harder and harder; exactly like Gold. Furthermore you will probably be surprised if find that price charts of Gold and BTC are almost identical !!
Above mentioned similarities shows that combination of two treasures, will definitely be a successful approach and this is clever idea behind “ DIGITAL GOLD ” project.
Digital Gold
The Digital Gold aims to create a smart ecosystem which unites gold metal and digital currencies.This creative association will expunge problems of Gold trading such as finding of trustable supplier, storing in a secure Bank or treasury which brings time wasting procedures and boring paperworks, constant annual fees, probable thefts and robberies. Moreover, Digital Gold will solve common problems of trading of cryptocurrencies such as volatile price, trading limits, KYC issues and country limitations, etc.
This ecosystem utilizes blockchain technology to establish a new digitalized platform. Key object of this ecosystem is “GOLD”; An Ethereum based stable token which backed with real Gold. This means that each coin being pegged to one gram of 99.99% FINE gold that is stored in the company’s vault. As a result, community members could use gold for pecuniary transactions or as a wealth storage method. Stability of GOLD tokens will protect token holders from volatility nature of cryptocurrencies. Additionally, they will gain profits through upraising of gold prices.But this is just beginning and trading of gold via GOLD tokens will provide some special advantages which will guarantee success of investment:
✔️ Possessing a low-cost token without any transfer fees
✔️ Keep wealth in a safe haven
✔️ Secure gold ownership
✔️ High liquidity Digital Gold
✔️ A private gold ownership experience
✔️ Guaranteed long-term life expectancy of purchased GOLD
TRUST matters
After an amazing boom in 2018, tragedy of scam projects and tokens have frustrated all of investors of crypto world; Based on “Wall Street Journal” analytical report which released on Q2 2018, about 271 raised distinctive red flags found during technical review of 1450 ICO and project.[6] This trend shows that Trust is probably the most significant criteria for digital traders. Thus, DIGITAL GOLD plans to bring a real confidence to GOLD investors, in this regard following precautions has been considered to create a consolidate reliability:
✔️ Audited Smart Contract : “ChainSecurity ” [7] which is one the well known blockchain security companies (headquartered in Zurich,Switzerland) has reviewed and audited smart contract of GOLD token. This will satisfy investors about compatibility of GOLD with ERC-20 standard and all of ETH wallets and exchanges. Audit report could be accessible through below link:[8]
✔️ Live Audit of Stored Backed Gold : All of purchased tokens are backed by physical gold. This amount of bullion gold will purchased on behalf of consumers, and stored in a Singapore based secure vault. Singapore is probably the best country in the world for trading and storing of bullion gold. Strong legal supporting rules for investors and costumer friendly regulations (no bullion tax, no reporting requirements,…)have made it best option for storing of Bullion gold[9] and “Bullionstar” is one of the best options for this purpose in Singapore.[10] Therfore DIGITAL GOLD team, decided to choose “Bullionstar” for storage of backed gold.
All of token holders could find real quantity of circulating GOLD tokens via any Ethereum blockchain explorer. This is equal to gold metal which is stored in “BullionStar” safe vaults and users are able to get a third party audit report on a quarterly basis on official website[11] this data could be verified based on “Bullionstar” live audit report which is accessible for all of investors which confirms value of gold being stored.[12]
✔️ Strong Insurance Contract : In addition to above safety precautions and to minimize potential hazards, all physical gold is insured at full replacement value. The insurance contract is arranged by Chubb Insurance Company [13] which is the world’s largest publicly traded property and casualty insurer with operations in 54 countries around the world.
Tokenomics
As mentioned above, Digital Gold team has designed GOLD token based on ERC-20 standard and requirements of ETH blockchain. Consequently it covers all of benefits of the Ethereum blockchain including instant transactions, fund security, immutability, automatic records and smart contract functionality. Also it’s a stablecoin which pegged to the price of one gram of 99.99% gold (the most stable asset during history). This policy, not only will protect GOLD token against volatility of market but also will increase wealth of investors because since 1900, US Dollar has lost 98.2% of its purchasing power, while gold rose 53.9 times during the same time retaining purchasing power in full.
The Digital Gold Marketplace
Digital Gold has developed an online integrated marketplace to ease instant trading and exchanging of GOLD token with other currencies and to promote liquidity of GOLD. Additional information has been provided to members such as online prices and charts to help a better and profitable deal. Also access link for some trusted currency exchange are considered on this page. (Currently CRYPTEX , LIVECOIN, BITFOREX, are available) These exchanges have provided different payment methods so that users can enjoy a profitable trading experience without any time or amount limit.
Conclusion
Long story short , detailed technical analysis shows that “Digital GOLD” could be a trustable option for hereafter investment and could guarantee future success of traders and investors, so you are recommended to participate on this valuable project and enjoy this profitable contribution.
Further data about “Digital GOLD” project could be found via following links :
Website: https://gold.storage/en/home
Telegram : https://t.me/digitalgoldcoin
Twitter: https://twitter.com/gold_erc20
Steemit: https://steemit.com/@digitalgoldcoin
Whitepapaer: https://gold.storage/wp/White_paper_en.pdf
My BitcoinTalk profile link : https://bitcointalk.org/index.php?action=profile;u=2520929
References:
[1]- “As Good as Gold.” — Charles Dickens
[2]- https://www.forbes.com
[3]- https://www.toikinzan.com/en
[4]- https://cryptobuzz.news
[5]- https://twitter.com/Pladizow
[6]- https://www.wsj.com
[7]- https://chainsecurity.com
[8]- https://gold.storage/Statement-of-Security-Audit-for-Gold.Storage.pdf
[9]- http://bullionexperts.com
[10]- https://www.bullionreviews.com
[11]- https://gold.storage
[12]- https://www.bullionstar.com
[13]- https://www.chubb.com
[14]- https://www.facebook.com/JohanochLottafotar/
