The Gold Token: Providing the best opportunity to invest in gold-backed cryptocurrency

Since the advent of bitcoin in 2009, cryptocurrencies have been always criticized for not having a physical backing. Also, the lack of a central authority controlling issuance and supply has rendered the value of cryptocurrencies questionable by financial experts. Add to all of this the high volatility levels of cryptos which is one of the main obstacles hindering mass adoption of cryptocurrencies.

To mitigate these challenges, the concept of gold-backed cryptocurrency has emerged. These currencies operate in a similar fashion to traditional cryptocurrencies, except that they are backed by tangible gold, via allocated or unallocated gold storage. Stablecoins are a form of asset backed cryptocurrency which was developed to address crypto’s extreme price swings. A stablecoin is a cryptocurrency whose value is “pegged” to assets with stable value including fiat currencies (e.g. USD, EUR, etc) and precious metals. Gold-backed cryptocurrencies are special forms of stablecoins, the value of which are pegged to that of gold. Combining the innovative capabilities of the blockchain technology with gold offers a convenient solution to the highly volatile cryptocurrency market.

The list of gold-backed cryptocurrency has been growing steadily. One of such currencies is Gold Token. Issued by DIGITAL GOLD LTD, Gold Token is combining the best attributes of gold and blockchain technology. Simply stated the Gold Token is delivering a gold backed currency to the market, while providing a secure and private ecosystem.

Gold Token aims to resolve the questions regarding cryptocurrency not having ‘intrinsic value’ by linking its value to gold. The company will provide investment opportunity to its costumer by allowing them to exchange Gold Token for any major cryptocurrency at a favorable price. The Gold Token is 100% of backed by physical gold. Amount of physical gold stored can be matched against the total number of tokens in real-time.

This gold backed digital currency is set to create a new benchmark in the cryptocurrency industry as the best crypto to invest in. People who firmly believe in using gold as a measure of value can find real value with this gold backed digital currency. Moreover, Gold Token also provides secure environment for investors by provided an agreement with the world's largest insurance specie underwriters, Chubb Insurance, to cover all risks at full replacement value of physical gold stored in vault. This is an ultimate model that offers a two-in-one benefit to investors. It is one of the best asset backed securities and asset backed investments that ever existed in the cryptocurrency platform.

In addition, the technology allows users to buy, transfer and make a payment using Gold Token. It supports transferring between users or business transaction with very low fees compared to traditional banking services to send money.

As a novel digital gold currency, Gold Token digitize their value to the Blockchain that facilitates gold commodification, thereby they lessen the volatility of cryptocurrency and enable small investors to participate in the gold commodity with the Gold Token.

The Gold Token is set as an ERC20 token standard on Ethereum Blockchain. The value is pegged at 1 GOLD = 1 gram of gold (99.99% FINE). The amount of physical gold stored that backed the Token can be verified any time at gold.storage site. Moreover, the website is featured with built-in marketplace where the Gold holder can instantly exchange Gold Token in BTC or ETH.

In conclusion, the Gold Token project aims to:

• Protect the costumer with gold-backed digital asset
• Decentralize the opportunity to invest in a multi-million dollar gold industry;
• Enable anyone to securely store and transfer value anytime, anywhere

For more information, you can visit these following links:

Website: https://gold.storage/
Whitepaper: https://gold.storage/wp.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5161544
Telegram:  https://t.me/digitalgoldcoin
Twitter :  https://twitter.com/gold_erc20
Medium :  https://medium.com/@digitalgoldcoin

Author's Bitcointalk Username: Tpq01349
Profile Link: https://bitcointalk.org/index.php?action=profile;u=1972940
ETH Address: 0xA73fA2565C18218AC6510c8CD3B220F5794f3B84