Digital Gold: Digitalizing Real Gold & Redefining the Concept of Stablecoin

The History of Gold

For us to have a better understanding of the his history of Gold, we will need to go back to 5000 BC when it all started. This history is a product of Archeological research. Gold has been in existence for many generations of humanity but its history in more than world all started in 1803 at the United States of America where a first registered with a weight of 7.8 Kilograms was found. As a precious stone, the storage of it is always in a vault like money especially in financial institutions like banks for its safety. The world largest gold reserve is the federal reserve bank of New York and the vault of the bank have up to 540, 000 gold bars deposited into it. We can find gold in planets which are Earth, Mars, Mercury & Venus.

Gold has some intrinsic physical features which I will share in this write up. It is a very soft and malleable metal with a high melting point. As a soft malleable metal, it is good conductor of electricity and heat. Gold is stretchable and also has high density though there are some metals that are more denser than it.

A real gold is mintable and the procedure of minting it has been with us for more than a century. We all known that gold is one of the most precious metals and very scarce to buy and this is one of the reasons why up to 70% of gold mint in years back are still with us now. As a matter of fact, we all want to be a owner of this precious stone but the reality on ground is that gold is too expensive and also very hard to see if you even get money to buy it.

Why Cryptocurrency Adoption is Very Important

In many rural areas of the world, many don't have access to banking services and some have to visit a bank that's very far from their residential place. Another thing is that the interest rates and transfer fees of most commercial banks is high especially in my country and there's a way the need of third-party before any transactions can be successful. Another important thing is that bank is not 100% risk free place to keep your money because any bank can go bankrupt at any unexpected time which can make you lose all your savings. We shouldn't forget also that the value of Fiat currency always depreciate with time and cryptocurrency has proven to be a solution to issues of Fiat currency, therefore having investment in Gold token which is a stablecoin back by Gold will protect your assets from all what I listed above.

What's the Reason why Gold Token is Stablecoin?

We all known that the crypto market is not stable and it is highly volatile and for anyone to be successful in crypto, he must keep himself abreast of all the events that can swing the market per time which will help you to make a good decision of either to sell off, hedge or even buy more of it. But the reality of happenings in the industry, no matter how knowledgeable you think you are, there are days when the bear market will catch up with you unaware and this is the major reason why stablecoin is more better than other crypto assets in the market. Stablecoin is a crypto asset that is back with real tangible asset and its price is always stable. Gold token is a stablecoin backed by real physical gold.

Gold Stablecoin Backed By Physical Gold

There is nothing 100% perfect in this world. Most stablecoin I know are backed by fiat currency and this make them to be prone to inflation which can depreciate their value but gold token is far different from others because this coin is backed by real physical gold and it is not affected by high volatility in crypto market nor inflation in the fiat world. Almost every time, the price of gold always appreciate with time and this means that the stablecoin will also appreciate because it is backed by gold and this is the big difference between gold tokenand other stablecoin out there. Other stablecoin are backed by fiat currency and with time their values depreciate whereas the value of gold token will always appreciate with time.

The Digital Gold Marketplace

The reason for the creation of [Digital Gold] (https://gold.storage/) project is for the platform to ensure a simple and efficient model for buying and selling of gold within a digitalized ecosystem. The marketplace of Digital Gold will also serve as medium for buying and selling of this gold token. The marketplace will display the pricing details of gold per time in Gold token, Bitcoin and Ethereum for every users and visitors to the site to see. The platform is highly efficient and secure and they're always ready to serve the interest of their users. It can be access either through mobile/desktop browser or through mobile app. This is the link to the marketplace. https://gold.storage/market

Features of Digital Gold

The goal of the platform is to digitalized and tokenize real gold asset and improve the use of the innovative blockchain technology. With their model, ordinary people will be able to buy physical gold with gold token without going through all the bureaucracies needed to do so in the conventional world. A gold token is backed by an auditable 1 gram of 99.9% of real physical gold, so this means for every gold token you hold, there is a proportional real physical gold for it kept in a secure and auditable by third-party vault. Below are some of the benefits you will enjoy in the platform:

Buying of real gold with Gold token with no transaction fees. You can also make unrestricted payments with the token with no fee. The only fee you will have to pay is the transaction execution fee that will be deduct by the Ethereum network which very minimal.

The platform also create an enabling opportunity for its users to hedge their crypto assets against volatility with the stablecoin so far nothing is constant in the crypto market and with this, the fear and risk of losing money to volatility will be drastically reduced.

As I said before that the token is backed by real gold and this means holders of it will be able to secure ownership of gold which is the dream of many. You will be able to do this without revealing your details and going through the rigorous paperwork. The platform will eliminate all this stress for you and furthermore, there won't be need for you to be paying any storage fee to keep this gold assets.

Conclusion

This innovative Digital Gold platform offers an array of solutions to the issues of buying, selling and storing of gold assets and the service charges for doing those three core things are absolutely free. The platform also redefined the concept of stablecoin by creating a token that is backed by asset that don't depreciate with time thereby eliminating the risk of inflation. This is truly an amazing feat that will be with us for a very long time.

Useful Links
Official Website : https://gold.storage/
White paper: https://gold.storage/wp.pdf
Telegram: https://t.me/digitalgoldcoin
Twitter: https://twitter.com/gold_erc20
Medium: https://medium.com/@digitalgoldcoin
ANN thread: https://bitcointalk.org/index.php?topic=5161544

Article Authored by Morrin
https://bitcointalk.org/index.php?action=profile;u=2587898