GOLD STANDARDS FOR YOUR CRIPTO ( GOLD Stablecoin )
Over the last couple of years, the digital ecosystem was introduced to a smarter and more efficient value management and storage system, referred to as blockchain technology. Its entire implications upon society are not completely understood at this moment, since the full potential of blockchain has not yet been unveiled.
Blockchain technology is generally described as a decentralized, transparent, immutable, shared and incorruptible database network that can be leveraged to record and store value. The initial use cases of blockchain were limited to digital currencies. The market fully appreciated its features, since it brings decentralization to digital asset storage. This concept is essential to the success of blockchain technology, granted that it prevents any central authorities from editing the stored data. Transparency improves overall trustworthiness of the network, whereas its cryptographic support allows for highly-secure, yet cheap transactions to be carried out instantly.
For several years, blockchains were used solely to record cryptocurrency transactions. Bitcoin’s rapid success and growth as the world’s most valuable digital asset convinced people throughout the world that value could indeed be securely stored online. It also opened up a box of possibilities, as most people that are well-versed in blockchain agree that it can disrupt and revolutionize most of the world’s industries. At this time, full-scale implementation is closer than most people think, granted that governments, financial institutions, NGOs, corporations, and start-ups are actively researching and developing blockchainbased projects.
Gold, on the other hand, is one of the world’s oldest trading commodities, as society has used it for thousands of years. During its long-span history, gold served many uses. It acted as a superior payment method, trading commodity, and excellent storage of value. Today, the prevalence of gold as a payment method has decreased, yet people continue to seek it thanks to its low price volatility, and excellent monetary storage potential. However, purchasing, storing and trading gold is not for everyone. Complicated procedures, alongside high purchase requirements have led to a decrease in gold usage by the general population. Its relevance remains, however, and it is believed that gold will continue to play an important role in the worldwide financial and asset markets.
Digital Gold represents a courageous and innovative project, meant to bridge the gap between gold and the digital ecosystem. The purpose of this white paper is to describe why and how blockchain technology can be leveraged to trade, store and use gold, via a method that is easy to comprehend and carry out.
THE DIGITAL GOLD PROJECT
Before focusing on the Digital Gold project in-depth, it is appropriate to give a bit of perspective on why digitized gold is highly relevant for the cryptocurrency market. Currently, the financial market holds several huge gold exchange-traded funds (ETFs), with enormous amounts of funds. For instance, the SPDR Gold Shares (GLD) currently has a market cap of over $36 billion, thus proving that gold remains an attractive asset for people worldwide.
The total value of the gold market cap is difficult to determine, yet it exceeds the $100 billion threshold The sheer amount of capital invested into these funds, when compared to the amount of gold that is purchased and stored, leads to a simple conclusion: The general public is not keen on buying, storing and transacting physical gold. The reasons backing this claim vary, yet many users are already accustomed to the financial market as it is. Buying and storing actual gold leads to complications, such as following strict legal procedures, and ensuring security measures.
Therefore, consumers prefer hiring a third party to handle these aspects for them. In this scenario, a suitable alternative to ETFs is purchasing tokenized gold. This is exactly what the Digital Gold project aims to do, while also providing users with several benefits. By leveraging the GOLD token to purchase digitized gold, customers do not face the risk of having their accounts blocked.
This often happens with brokers due to their strict terms, such as limited country availability, trading limits, or invasive requests for personal information. On the other hand, the GOLD token allows users to trade as much as they would like, without needing to disclose their identities.
The Features of Digital Gold
The GOLD token boasts several impressive features that aim to facilitate the usage of blockchain for digitizing assets. By purchasing gold via the token, customers get access to:
♦ A low-cost token that entails no transfer fees Thanks to its Ethereum ERC-20 support, customers can choose to send the token anywhere in the world, without having to worry about volatile transfer fees, since all transfers are free. Users are also permitted to make unlimited payments, as the service does not impose account limits. Users should note that transfers still entail the ‘gas’ tax charged by the Ethereum network.
To make the project sustainable, a service cost has been implemented. As such, GOLD token users can expect to have a small percentage of their holdings charged on a daily basis. It is important to consider that the service cost is designed to be either comparable, or lower than the fees associated with storing gold at a depository or bank. Users can expect to pay a 0.99% annual storage fee.
♦ The opportunity to diversify portfolios, and keep wealth in a safe haven The current cryptocurrency market conditions usually involve volatile price swings, thus giving all purchases a high-risk factor. Most of the currentlyavailable coins are not trusted to keep their value in the long-run, as the market is still in its nascence. However, gold represents a financial asset that has held its value for thousands of years. With time, it gave holders access to unprecedented purchasing power backed by stability.
Without a doubt, gold is one of the world’s safest assets to own for wealth storage. Its digitization via the GOLD token enables users to purchase coverage in physical gold, which can then be used to exercise protection against poor market conditions, volatility and regulatory changes. The GOLD token can be easily and instantly purchased, sold, and traded, thus proving why it represents a powerful addition to current customer cryptocurrency portfolios.
♦ Secure gold ownership The challenges related to purchasing and storing gold have been briefly outlined above. The process generally involves quite a bit of hassle. To purchase gold, those who are interested need to find a reliable supplier, handle paperwork, and then proceed to secure the newly-purchased precious metal. Hosting it in a bank is a safe choice, yet it involves even more paperwork, alongside storage fees. The inherent dangers associated with storing gold at home are well-known, since to this day, burglary remains a problem that society has to protect against.
These challenges can be disregarded with Digital Gold. With the GOLD token, customers purchase coverage in actual gold, stored by the company in secure vaults. All physical gold is insured, therefore the risks are minimal. All risks are covered at full replacement value. The insurance contract is currently provided by one of the world’s largest insurance underwriters, the Chubb Insurance Company. The insured gold is stored in Singapore, which is a perfectly-viable location thanks to its strong property rights.
It is also relevant to mention that blockchain technology provides security against cyber-risks as well. So far, blockchain remains impenetrable, granted that no public blockchain ledger has been hacked to this day. Security on the user-side can be ensured as long as token users protect themselves against key-loggers and other forms of computer malware. However, no third party can gain access to a user account without discovering the wallet identifier and the associated private key.
Additionally, blockchain immutability ensures that all transactions are permanent, thus token users face no chargeback risk. Lastly, 100% of purchased tokens are covered by physical gold. With this in mind, the total amount of GOLD tokens put into circulation can be confirmed via any Ethereum block explorer.
The amount is equal to the value of physical gold that is purchased on the behalf of consumers, and stored in a BullionStarbased secure vault. Users are free to carry out their due diligence by verifying the BullionStar live audit reports. As such, a third party audit report is issued on a quarterly basis, thus confirming the value of gold being stored.
♦ High liquidity Digital Gold The GOLD token ensures high liquidity, since the token issuer company, DIGITAL GOLD LTD, also works as a liquidity supplier. Users are permitted to instantly purchase and sell large amounts of tokens, via the Digital Gold Marketplace, or partner exchanges.
Another benefit worth pointing out is that with Digital Gold, customers do not have to consider local business hours, since the service is available 24/7. Liquidity is therefore available on demand, and the rates always closely match current gold market prices.
♦ A private gold ownership experience As briefly mentioned above, dealing with physical gold entails that users disclose personal information to remain in compliance with national regulatory frameworks. The general lack of standardization backed by the sheer amount of data collection, has led to the appearance of a society that is more privacyconscious. The GOLD token allows for physical gold ownership while remaining private.
♦ Guaranteed long-term life expectancy of purchased GOLD Most financial analysts agree that the life expectancy of gold vastly outweighs our own. This conclusion is backed by the Lindy Effect, a concept that describes how the future life expectancy of an asset is directly proportional to its current age. Gold’s prevalence for thousands of years guarantees that the precious metal will remain relevant for many years to come.
ADVANTAGES
♦ 1 TOKEN = 1 GOLD GRAM WITH PURE 99.99% PURE
All GOLD tokens are bound by gold stored in a secure warehouse. Can be audited and verified online.
Each token is made through an Ethereum smart contract and the amount will always match the amount of gold stored in the Bullion warehouse.
♦ HIGH LIQUIDITY
Companies that release tokens are suppliers of liquidity so that the purchase and sale of tokens in large quantities can be valued at market prices.
Token owners can sell or exchange tokens on our website or exchanges in collaboration with Digital Gold.
♦ NO TRANSFER FEES
There are no transaction fees. Make as many payments as you want. GOLD can be used as part of everyday transactions that you do.
♦ LOW COST
Low service costs compared to the cost of storing gold in banks, without any difficulty when dealing directly with problems related to the storage of precious metals.
♦ SECURE
All tokens are tied to real gold. The amount is always in accordance with the gold in the storage room. All transfers are irreversible and there is no way to block or limit your account because of the decentralized structure of blockchain technology.
♦ PRIVACY
Have GOLD while preserving your privacy. Another alternative to owning gold requires your identity when buying or exchanging your gold. To buy or sell GOLD in any amount, you only need the wallet address you have.
SIGNIFICANCE OF STABLECOIN
Stablecoins — digital forms of money that are progressively picking up footing — are substantially more fixed than typical cryptographic forms of money. This is on the grounds that their qualities are pegged to different resources, for example, the US dollar or gold.
Thus, stablecoins appreciate the numerous advantages of being a cryptographic money (straightforwardness, security, protection, and so forth.) without the extraordinary unpredictability that accompanies most different kinds of computerized coins.
Stablecoins were made to be utilized the manner in which cryptographic forms of money were planned — as an oversimplified, balanced out, versatile, and secure method for exchanges. All things considered, most organizations, naturally, aren’t keen on tolerating a cash like bitcoin that may tank in worth the following day.
WHY GOLD BUSINESS SHOULD BE TOKENIZE?
Tokenizing gold metals opens up new potential outcomes that are right now physically troublesome, for example, partitioning up a gold bar into littler divisions, moving overwhelming amounts all the more effectively, or loaning the advantages out more proficiently,
Be that as it may, the estimation of most digital forms of money, particularly bitcoin, vacillates once a day. And keeping in mind that the virtual monetary standards intend to encourage progressively secure exchanges, their qualities are progressively revolved around theory.
WHY WE USE GOLD STABLECOIN?
Gold Stablecoins are not expose to the outrageous value unpredictability that different digital forms of money are influenced by. Gold Stablecoins is straightforward secure, unchanging, it has advanced wallets, quick exchanges, low expenses, and protection.
PROJECT ROADMAP
Project roadmaps are essential for giving users insight on how companies plan
to evolve in the short-term future. Here is the pre-planned roadmap of the
Digital Gold project:
Solutions
GOLD is a digital crypto asset backed up by physical gold, which is purchased every time a token is issued and stored in a secure vault in Singapore. GOLD is a safe, convenient and quick solution that serves many purposes from investment and portfolio diversification to secure transactions and gift to your relatives.
GOLD is a transparent financial instrument, where physical gold purchased by our company is easily matched real-time against the amount of issued tokens.
Price Information
FOR MORE INFORMATION:
★Website: https://gold.storage/
★Facebook: https://www.facebook.com/golderc20
★Twitter: https://twitter.com/gold_erc20
★Medium: https://medium.com/@digitalgoldcoin
★Telegram: https://t.me/digitalgoldcoin
★ Whitepaper: https://gold.storage/wp.pdf
★ Youtube: https://www.youtube.com/channel/UCUo-D88vDTvntg2QhxDqBGQ/
AUTHOR:
✎ BITCOINTALK USERNAME: antoarwadi
✎ PROFILE URL: https://bitcointalk.org/index.php?action=profile;u=510710;sa=summary
✎ ETH : 0x9119E1338782C7B9D6Dfe2F579FddC6153FE8397
