GOLD Token: Integrating Blockchain and the GOLD Market

When the blockchain technology was introduced at first, potential users thought its applicability was exclusively limited to cryptocurrencies. However, it was not too long before people changed that orientation as more people started discovering that blockchain technology carry greater prospects that can change the whole financial market. However, blockchain technology can achieve even more than this.

For instance, business analysts, project developers as well as business moguls are fast realizing that blockchain technology can change majority of how things is done nearly in all industries all over the world.
Bringing digitalization into gold market will definitely raise the level of acceptability of the rare metal which has always been a treasured possession to humans for countless ages. Marrying gold and blockchain technology is yet another very important usecase instance that depicts how much blockchain can change the financial industry for good.

The Financial Market and Digital Gold Token

A huge sum of money, up to the tune of several billions US dollars are being transacted daily in the global financial market. From time immemorial, and of course, traditionally, banks are usually the only industry offering the financial services. Notwithstanding, things are beginning to change with the emergence of better service-oriented financial institutions where users can make transaction with much flexibility.
The fundamental problem with the present financial system is that a good majority of the entities deliver service that are not fast enough for business life, costly to operate or requiring Hugh technicalities to execute. Nonetheless, blockchain can process just about any and every type of financial transaction in as much as blockchain-oriented services used.

GOLD Token’s custom Fintech Market hosts a whole lot of blockchain-hosted gold services making gold gain more consumer acceptance. It develops a coin, the GOLD token which serves as a monetary replacement in gold-oriented investments. GOLD token makes it possible to buy and sell gold and usable as a means of securing payments. It brings flexibility into payment system which has hitherto been in existence.

Gold token ensures asset safety as it is backed by tangible gold and has the potentials of bringing more investors into the gold market, since security concerns are no longer there. A good majority of people who invest in gold do not prefer to store it in their homes because it is very risky to do so.
Digital gold platform offers a repository where stored gold can be safe-kept in a vault and tokens is given to investors. The digital gold is so secured in a way that it can not be hacked because it uses the blockchain technology. Additionally, investors gain because increase in value of the gold reflects immediately on the token that they hold. A very dynamic smart contracts on the platform marries each token purchased by 1 gram of 99.9% pure gold. This is the focal point of Digital Gold platform.

Conclusion

Digital Gold is a blockchain-oriented platform, built to incentivize the introduction of cryptocurrencies into the global financial market as well as other ancillary tools. Digital Gold uses the GOLD token as the local currency of the platform, an ERC-20 standard type token. Digital Gold platform offers liquidity for end-users such that their funds can be easily retrieved, low cost of transaction as well as safe network that is not prone to external attacks.

Digital Gold Links:
Website : https://gold.storage
Telegram : https://t.me/digitalgoldcoin
Twitter : https://twitter.com/gold_erc20
Whitepaper : https://gold.storage/wp.pdf
Medium : https://medium.com/@digitalgoldcoin

Author: Wotoby

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Eth address: 0xF65362D74d7bfF02c1837DA39C378384f7dCB42e