How Blockchain Technology is Increasing
the Value of Gold
A blockchain is a digital ledger where the records are maintained for the transaction of various assets and services by an organization and provides many advantages over any traditional system.
The main benefit of the blockchain is that it is transparent and independent; meaning it can be viewed by anyone on the internet without any restrictions. This allows users to interact with one another regardless of their geographical location or any other restrictions such as censorship, which may prevent the use of traditional financial institutions.
Gold plays a major role in a blockchain system. One of the benefits of this is that it does not require large storage space; in fact, it is often stored directly within the servers and does not require any extra space at all. The only thing needed is a computer to access the blockchain data.
This makes it much easier to store gold in a blockchain system and is less prone to theft or loss. As the security of the system increases, the value of gold increases as well.
One of the other main benefits of blockchain systems is that it enables the transfer of funds online. This means transactions can be processed in a matter of seconds, making it possible to transfer funds between multiple parties with little effort. And the confirmed transaction can not be undone, a feature that will lower any chances of fraud.
When transferring Gold to a recipient, it is required to pay a fee for the privilege. This process is less hassle when done in a blockchain system; allowing users to directly trade gold without paying fees.
With blockchain technology, the whole process becomes easy. Using the privacy of the blockchain ledger, a user can pay a tax without anyone knowing about it, or by marking a paper receipt.
https://www.youtube.com/watch?v=D3riJkjfby4
This is what is applied by the company at gold.storage with its gold token called ERC20. The token is backed up by real gold so every 1 token is equal to 1 gram of 99.99% fine. Having ERC20 will give you all the benefits of keeping gold but without all the disadvantages of keeping physical gold.
ERC20 is also very liquid as you can buy or sell the token anytime you want at the website gold.storage or at any other popular exchangers.
An individual can easily create gold and transfer it to another account without anyone ever knowing; because the public ledger is open source, this process can be done anonymously. This also makes it possible to change the gold into something else if it is in fact no longer needed; and even more importantly, it removes the need for banks, which is another advantage of the blockchain system.
Although it is true that some users may have a need for the traditional gold-backed form of money, the Internet has opened up many opportunities for the transfer of gold. With the use of a blockchain system, it is now possible to transfer gold at almost any time.
For complete information, you can follow the official Digital Gold here:
Website: https://gold.storage/en/home
ANN: https://bitcointalk.org/index.php?topic=5161544
White paper: https://gold.storage/wp/White_paper_en.pdf
Telegram: https://t.me/digitalgoldcoin
Twitter: https://twitter.com/gold_erc20
Reddit: https://www.reddit.com/r/golderc20
Author: samidbangkit
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2297707
