Why does it represent a Digital Gold risk for world banks?

lugube17
5 min readJul 8, 2020

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BBC News London (December 2017). Post a note explaining the risks of cryptocurrencies to traditional banking, limiting that technology evolves so fast that it makes what happens in the financial world in the next few hours almost unpredictable. Bitcoin has increased its probability in recent years, generating great interest and different unknowns about whether cryptocurrencies can really dethrone traditional banks and, in turn, Fiat money.

Currently, a lot of cryptocurrency traffic is observed globally, for example, today 07/13/2020 according to CoinMarketCap, which is a platform created to track the capitalization of different cryptocurrencies, the number of operations that the controlled ones and the current price converted to fiat currencies, the volume of money that is traded in 23,152 markets was $ 66,983,047,379 and the total capital that supports around 5,714 Cryptocurrencies is $ 272,880,200,837.

Image 1: Current BTC chart

A bank is essentially a financial institution that provides “security” in loans, controls, payments, among other services, it does not seem difficult to carry out this task, anyone who lends temporary money can make a small amount of money to a friend and charge interest. The difference is that public banks have several private funds that are then used for loans and investments where a percentage of 0.01% is satirically earned.

This has caused that in most countries they have begun to denote mistrust or loss of control in banking platforms since they do not generate suitable and competent functions expected by people, but this is not all, the lack of balance storage Total, very little profitability, commissions, difficulty in hiring, limitations when withdrawing money for a specific amount, very little security in your capital and assets, little comfort to make: payments, collections, transactions, deposits, among others.

As time goes by, people have the instinct to evolve and progress positively with the sole objective of facilitating their experience. This leads us to generate some unknowns such as: is it a good option to invest? What is good to invest in? In reality, investing is one of the best options from an economic point of view, a type of mattress is generated, where this is in charge of protecting us from possible emergencies and inconveniences in the future, this invested asset is growing exponentially progressively with a single purpose where you can use it when you consider it necessary.

Now, knowing this there are many options to make a good investment such as: stock market, real estate, invest in companies, franchises, businesses, gold, cryptocurrencies, among others. But let’s emphasize two of these, gold and cryptocurrencies. Why gold? As time goes by, people who have had the sublime mentality of investing in it, since with the current situation of the banking system, men are looking for better methods, since with banks they are tempted to keep their money under the bed, making it lose value. , a difference of gold that maintains its value (per ounce: € 1,575.42) (per gram: € 50,651) or is included in such a way that it does not generate losses if it does not win.

Image 2: current gold chart

We continue with the next point, why cryptocurrencies? Cryptocurrencies have been a revolutionary boom in the world economy for many reasons, mainly for this reason they are not controlled by a banking institution or a government, crypto transactions are carried out with a high degree of anonymity and privacy because they are driven with blockchain technology, thus making your purchase and sale transactions undetectable; The costs for making a transaction are very low compared to traditional money, in addition to this ease and comfort of withdrawals, payments, transactions when we please.

And what happens if we join these two points mentioned above? These points can be combined thanks to the existence of the DIGITAL GOLD project, which is compatible with Ethereum of the ERC20 type (it is simply a subset of Ethereum tokens that is adapted to delimit parameters). It is necessary to know that each DIGITAL GOLD token has an equivalent value of one gram of gold (99.99%) of pristine gold; It is worth mentioning the great security that DIGITAL GOLD possesses since this cryptoactive is backed by physical gold protected in a vault in Singapore with high security, protected 24 hours a day, 7 days a week. Additionally, the insurance covers all possible risks, which is provided by one of the largest metal insurance companies known as Chubb Insurance.

DIGITAL GOLD not only gives us great security, but also offers us high privacy by remaining anonymous when trading GOLD, since it will only be necessary to provide the wallet address of your choice, such as: MyEtherWallet, MetaMask, Trezor, Guarda and Ledger Nano S. On the other hand, DIGITAL GOLD contains high liquidity in the market since you can have large amounts of buying and selling this token at the time you want without a stipulated time. DIGITAL GOLD is the evolution, it is no longer necessary to invest in physical gold with all the risks that it may have, now you can do it from the comfort of your home, or wherever you want digitally, knowing that your investment will always be irrefutable .

Image 3: DIGITAL GOLD

· If you want to know much more about the DIGITAL GOLD project and go deeper into the subject, click here: https://gold.storage/en/home

· ANN: https://bitcointalk.org/index.php?topic=5161544.0

· Telegram of the project: https://t.me/digitalgoldcoin

· Reddit of the project: https://www.reddit.com/r/golderc20/

· YouTube channel of the project: https://www.youtube.com/channel/UCUo-D88vDTvntg2QhxDqBGQ

· Twitter of the project: https://twitter.com/gold_erc20

· MY PERSONAL PROFILE: https://bitcointalk.org/index.php?action=profile;u=1362518;sa=summary

· Nombre: luguber17.

· Ethereum wallet address: 0x27C14BCf0F67D54404Fc87746B4f4CEa441E4aE6

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