DIGITAL GOLD: 100% LIQUID STABLECOIN BACKED BY GOLD
Ever since the evolution of the blockchain, we saw the birth of the first truly decentralized cryptocurrency known as the bitcoin, which was created by an anonymous computer programmer in 2009. The price of the bitcoin has experienced great exponential growth with a lot of successes, this has led to the creation of other coins also known as altcoins, which solves degrees of daily society problem.
The blockchain is a decentralized public distributed ledger which transactions are immutably stored, the blockchain is not subject to hacking as long as rules are strictly adhered to. And the imputed data are securely kept in which no one can alter the valued as recorded on the chain. This makes it a great innovation not just for financial purpose but for a wide range of daily work.
DIGITAL GOLD PROJECT
The Digital Gold is a gold-backed token, an ethereum-based ERC20. In which a digital gold is equivalent to 1 gram of 99.9% Fine gold. the Ethereum network makes use of the blockchain technology. The Digital Gold token is not an ICO, it’s a self-funded projected, so there is no pressure from private, angel or ICO contributors to deliver. Whenever a trader purchases a Digital Gold token, they are equally eligible to real gold which is pegged at 1 Digital Gold to 1 gram of Fine gold, which can be redeemed to Fine gold, this makes Digital Gold token a very valuable blockchain project.
WHY OWN A DIGITAL GOLD TOKEN?
Investing in Fine gold can be very complex and risky due to financial regulations and safekeeping of the purchased gold. The Digital Gold gives holders right of ownership of gold, which are safely stored in a vault, Digital Gold project partners with Bullionstar for security and Bullionstar equally carry out an audit for accountability. The audit ensures that there are enough and gold to cover the available tokens. So the cost of maintaining a stored gold by a third-party manager wouldn’t be incurred except a yearly fee of the Ethereum network platform which is minimal. One need not have the complex skill and financial intelligence in dealing with the gold market before one can own a fine gold with the technological innovation of Digital Gold project which has simplified the gold investment and ownership. Buyers of the Digital Gold need not fear about the security of their tokens as it’s safe on the ERC20 platform which makes use of the blockchain and this is not hackable as long as owners don’t compromise their private keys and login details.
DIGITAL GOLD AS A STABLECOIN
Digital currencies are characterized by high volatilities which majorly cause potential investors to abandon the idea of investing and opt for a more stable investment. I personally loss huge amount of dollars from a volatile altcoin, which has made me be conservative and selective of what I buy and trade store for future boom. In 2017 we saw a major growth of bitcoin to an all-time high ATH of $20,000, this was followed by a massive dumping of the bitcoin price to $3,300 in March 2019. That certainly is not for the faint-hearted, sure.
The Digital Gold will also act as a stablecoin to allay the fear of volatility, this is possible because it’s backed by gold, wherein a Digital Gold is pegged to 1 gram of 99.9% Fine gold. As earlier mentioned, it will be ensured that the amount of Digital Gold in circulation is equivalent to the amount of gold in the vault, this is to cut any sudden volatility that may want to lead to dumping in price. It’s worthy of note that while many Stablecoins in the market are been pegged against fiat and backed by fiat, but Digital Gold is been backed by gold. The gold has been around for thousands of years has been valuable all throughout ages and remains a good store of value, which is majorly available to the rich, and it has a very robust market.
The gold global exchange-traded funds market(ETFs) is over $100b, so there is enough liquidity in the gold market. The Digital Gold is equally a liquid provider, so there is no problem with trading the token.
The Digital Gold can be stored in an ERC20 ethereum compatible wallet such as: Myetherwallet.com, Imtoken wallet, Trust wallet, etc.
WEBSITE: https://gold.storage/
WHITEPAPER: https://gold.storage/wp.pdf
Medium: https://medium.com/@digitalgoldcoin
Author: Leonard Egharevba
Bitcointalk Username: Lizzylove1
MY BITCOINTALK PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=2349242;sa=summary
