Gold-Backed Blockchain-Based Tokens: Digital Gold- 3 Industries in 1

Hits: 192

Digital Gold Ltd. combined the solutions to these three challenges and made them into a solid solution – The Gold token. The Gold Token is a Gold-backed stable coin built on the Ethereum blockchain.

Gold and Human History 

Gold has proven itself cogent in human existence, not just as ornaments but as a store of value. In the first article I wrote about Gold I revealed some striking history Gold made in the history of money as we know it today. We can deduce from the article that, money began losing its worth when it was disconnected from its true source- Gold. Countries like the United States of America began incurring serious national debts when their money dissociated from being backed by Gold. 

What is so special about Gold? 

Gold has revealed among other assets to have a constantly increasing value over the years. For example, anyone who invested in gold in 2018 will have a 15-16% increase in value just in a year. It is a safe haven for those who want to keep their wealth stable and valuable. The secret behind this is that Gold is scarce, it is only mined by very few and it uses far outweigh its availability. Now from the laws of demand and supply, we know that when supply decreases, demand increases, in other words, you value what you don’t see every day. 

I have also established that people, because of safety, have preferred to have their golds stored in vaults where they can pay fees annually. Just like money, certainly, you won’t like to keep huge sums of money at home because of thieves. Through means like this, Gold found its way into digital streams where users can keep track of how many Gold ounces they possess and how much it is worth. With this, it becomes possible to transfer or trade Gold without having to make physical contacts with it for security purposes i.e Gold as stocks or GOLD ETF. 

The Blockchain and Digital Gold

In an article I wrote about Digital Gold I affirmed that Blockchain-based Gold-backed stable coin has combined the greatest virtue of three industries overruling all disadvantages:

  1. Gold: Physical Gold can be unsafe in the hands of the owner, ease of trading, and exchange is questionable. 
  2. Digital Gold, Gold ETF, or stocks: Entry and Exit are quite hard for beginners. Multiple fees make it difficult for low-income people to want to try to own one. 
  3. Blockchain Technology: Though very secure and easy to work with, but volatility or market price changes scare merchants off. You don’t want to sell a good for an amount of Bitcoin and in the next few days that what you received is now worth far less than what you collected at the point of sale because of sharp changes in market prices. 

Digital Gold Ltd. combined the solutions to these three challenges and made them into a solid solution – The Gold token. The Gold Token is a Gold-backed stable coin built on the Ethereum blockchain.

  1. Physical Gold is stored in a vault which can be tracked here.
  2. Smart Contract is created on the Ethereum blockchain to mirror the number of ounces of Gold owned in the vault by Digital Gold limited and also the market price mirrors the Global Gold market price.

For those who are asking: “What is the current price of Gold?” Well, here you have it:

Price of Gold Chart/ Gold Rate.

  1. Except for the normal Gas charged by the Ethereum blockchain, there are no hidden fees for transferring Gold tokens charged by Digital Gold Ltd. This makes entry and exit easy and appealing for anyone who wants to hold even a very small amount of Gold. For storing Gold in physical vaults, 0.99% is charged yearly on any amount that is held.

Digital Gold and Real Estate. 

?fit=700%2C467&ssl=1″ alt=”” class=”wp-image-851″ width=”390″ height=”259″/>
Source

I made a comparison between Gold and Real estate as an investment option in an article. It was concluded that Gold token on the blockchain combined with Digital Real Estate investment is a great opportunity that almost nobody has ever thread. This opportunity still remains untapped by everybody though lying there openly. You need to read what my findings are. 

Do you want to understand more about Gold Ltd? Follow the following links. 

WEBSITE | ANN | BOUNTY | TWITTER | TELEGRAM | STEEMIT | REDDIT | YOUTUBE | WHITE PAPER

Ayobami99 (Bitcointalk)

Cover Image Source

Subscribe:
error

Leave a Reply

Your email address will not be published. Required fields are marked *




Proudly powered by WordPress | bitcoinee by

.