DIGITAL GOLD PROJECT — GOLD YOU CAN SPEND!

7 min readSep 6, 2019

Introduction:

This is a story I have heard from a friend. In early June 1970, 27-year-old Rogelio Roxas — a former soldier in the Philippines army, who worked as a repairer of a lockpocket was searched by a judge from Pio Marcos, a court in Baguio City, Luzon Island, Philippines. General Yamashita’s gold storehouse — believed to be buried in the area before the end of World War II.

After more than 7 months of digging, on January 24, 1971, Roxas found a part of the gold store but disaster struck because Judge Pio Marcos was related to Philippine President Ferdinand Marcos.

Speaking of ancient times, gold used to be a valuable resource long before Musa, with references considered to be a valuable document in ancient texts. points, construction, decoration and a measure of wealth. The value of gold has increased over the years, as well as the challenges associated with accessing, buying and storing it safely. That’s why the Digital Gold project was born, giving everyone a gold standard for your cryptocurrency.

“Digital Gold is a blockchain-based project, designed to encourage the digitalization of the financial markets, and their afferent investment instruments. It hopes to achieve this by enabling users to purchase coverage in physical gold, via the ERC-20 Ethereum-based GOLD token. The project holds numerous advantages for its users, the gold market, but also for blockchain technology as a whole”.

The relative stability in the price of gold and how it can serve the cryptocurrency market

Gold has a profound impact on the value of currencies in the world. Although the gold standard is no longer used, gold is still a special commodity that can be used as an alternative to other currencies and is used as an effective barrier against inflation. There is no doubt that gold will continue to play an integral role in the forex market. Therefore, gold is an important metal with special ability as a barometer for the health of regional and world economy.

A quick comparison could easily be shown using the price fluctuation of Bitcoin(BTC) and Gold within the last thirty days. Within this period, BTC has experienced price depreciation of over $4 000 while gold has experienced only mild depreciation amid fluctuation of about $62, this information is graphically shown below.

How Digital Gold makes gold an easy means of settlement?

As you know for thousands of years, gold has been used to preserve wealth. The stability of long-term purchasing power of gold is unmatched and superior to any currency. Understanding this, Digital Gold has been created, to address requirements such as: Transaction costs, security, confidentiality of transactions, etc. DIGITAL GOLD employs blockchain technology in the tokenization of gold to create Ethereum-based tokens which are compliant with the ERC20 protocol. These tokens called the Digital Gold Token(GOLD) serve to provide liquidity for physical gold of high purity(99% FINE gold) which are safely stored in the company’s vault.

Do not worry about its security because all of the Digital Gold Token is stored is stored in the company’s Safes, in cooperation with BullionStar. This is to ensure transparency and to verify that tokenized gold is safely stored. Whenever any gram of gold is tokenized, a corresponding amount of gold is physically committed to the company’s vault and the amount of gold stored can be verified at any given time. Since the process of token purchase (which corresponds to the tokenization process) is controlled by smart contracts and securely stored on the decentralized infrastructure of the blockchain, transaction details cannot be altered, ensuring further accountability and transparency.

Advantages and features of Digital Gold

Advantages:

1 TOKEN = 1 GRAM OF GOLD 99.99 PURITY: All gold tokens are backed by physical gold stored in a secure vault. The gold stored is audited in real-time and can be verified online. Every gold token is issued using Ethereum smart contract and the amount of tokens in circulation always equals the total amount of gold bullion held in vault.
HIGH LIQUIDITY: Token issuer company is a liquidity supplier enabling purchase and sale of large amount of tokens very close to market rates. Token holder can instantly purchase or redeem tokens at this website or partner exchanges.
NO TRANSFER FEES: No fees on transactions. Make as much payments as you like. GOLD can be used as part of your daily routine or regular business transactions.
LOW COST: Low service costs comparable to the cost of storing gold at a bank, with no hassle of actually dealing with precious metals storage related issues.
SECURE: 100% backed by physical gold. Amount of physical gold stored can be matched against the total number of tokens real-time. All transfers are irreversible and there is no way to block or limit your account due to decentralized structure of blockchain technology.
PRIVACY: Own GOLD while remaining private. All other gold ownership options involve disclosing your identity at the time of the purchase or redemption. To purchase or sell any amount of GOLD, you just need to provide a destination wallet address.

Features:

SAFE HEAVEN: Gold is an asset that has proven its value over thousands of years. Its unprecedented long term purchasing power stability has made it the safe heaven asset of choice. GOLD as a token fully backed by physical gold, is your hedge against volatile price swings and poor cypto market conditions. The token can be instantly bought, sold and transferred making it a great addition to your portfolio.
NO TRANSFER FEES, LOW COSTS: Make payments in GOLD with absolutely no transaction fees. This means that you can make as much payments as you like whenever you need to, free of charge. GOLD can even be used for daily financial routine such as payments to your friends and business transactions. Service costs are comparable or lower to storing gold at a depository or bank, with no hassle or paperwork. The cost is a small percent of GOLD holding charged daily on your GOLD balance.
SECURE: 100% of GOLD is backed by physical gold. Amount of physical gold stored can be matched against the total number of tokens in real-time. All physical gold stored in vault is fully insured, 100% of the time.
The insurance covers all risks at full replacement value and is provided by one of the world’s largest insurance specie underwriters, Chubb Insurance. Storing physical gold on your own has a number of inherent dangers/problems that can be avoided by using GOLD. Such dangers include home burglary and security risk going to and from the bank, if you choose to store gold at home or limited access if you choose to keep your gold at a bank.
HIGH LIQUIDITY: Token issuer company, DIGITAL GOLD LTD, is a liquidity supplier enabling purchase and sale of large amounts of tokens very close to market price. Token holder can instantly purchase or sell tokens at this website or partner exchanges.
While using GOLD, you are not bound to local business hours that may prevent you from accessing and selling physical gold at a favorable price or if an urgent personal need arises. There is no need to physically take gold to a dealer to be sold. GOLD token’s liquidity is exceptional, because the tokens can be sold 24/7.
PRIVACY-CONSCIOUS: It is a common knowledge that physical gold dealing requires disclosure of personal information and compliance with local regulations that vary widely from country to country. In the age of NSA, and almost everyone urge to collect data, GOLD is your opportunity to own physical gold while remaining private.
LIFE EXPECTANCY: The Lindy effect is a concept that the future life expectancy of asset or technology is proportional to their current age, so that the longer the asset exists the longed future life expectancy. Applicable to gold, that has officially lost its role as money, but has thousands of years behind it ensuring its value for centuries, if not thousands of years to come.

The Digital Gold Marketplace

To facilitate further liquidity, the Digital Gold platform has developed its marketplace for the easy purchase, sales, and the exchanging of the Digital Gold token for other cryptocurrencies like BTC or Ether. Relevant information on the prices of gold and other cryptocurrencies like real-time prices and charts can easily be accessed to enable users to make informed transaction decisions. The DIGITAL GOLD platform is a completely practical environment which has its very own MarketPlace. GOLD tokens can without much of a stretch be traded for crypto coins like Bitcoin and Ether. The Marketplace is outfitted with essential instruments to help with market analysis and price projection. The buy and sell framework is conveyed by smart contracts, taking into consideration consistent exchanges. So as to encourage further liquidity for GOLD, it will be recorded on more trades.

For more details:

TELEGRAM : https://t.me/digitalgoldcoin
WHITEPAPER : https://gold.storage/wp.pdf
TWITTER: https://twitter.com/gold_erc20
WEBSITE: https://gold.storage/

Author: likeface093

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