Digital Gold Platform; Letting you buy the true Gold easily using Blockchain Solutions.
Since bitcoin ruled complaints in 2017, leaving a whole lot of human beings in an initial earnings earlier than large losses; there had been various strategies carried out to ensure that price range may be saved in a solid cost and steady rate over a big period of time (greater than twenty years). And since then we were introduced to the importance and forte of Stable coins.
Stable coins are neutrally known as solid cash because they ensure that your money or coin continues a stable fee over huge length of years. This has brought on several blessings to buyers as well as a pivotal therapy to the volatility existent in crypto foreign money today and admittedly speak me, solid coin is the way. And equally, it has furnished options to the banking device.
Interestingly inside the olden days, the mode of strong cash (keep of wealth) was gold and diamonds and other reliable natural sources that may be mined and renewable, which have secured values; but when you consider that blockchain generation became delivered we have visible series of Stable coins together with tether, usdt, usdc, and so forth.
The blockchain technology serves a very useful purpose in our world today as it has greatly influenced the world financial and economic sector. It has also affected other sectors of the world such as the industrial, health, banking sectors, etc. Thus bringing about a great revolution to the world at large.
A blockchain is a collection of records called block, which are linked together using cryptography. It is an open distributed ledger that can record transactions between two parties efficiently, in a verified and long-lasting manner. Its great features help keeps information more secured because they are linked with cryptography which is difficult to alter.
The ability of blockchain to withstand the alteration of data has made it a very vital and sophisticated tool in the digital world. The blockchain technology act as the backbone of crypto-currency which is focused on elevating the global financial and economic sector to its peak.
Owing to its advantage, a lot of industries has decided to integrate its advantage into their framework to make their operations an efficient one.
The Digital Gold Platform
What is Gold?
Gold is one of the dateless assets of mankind. It is widely used throughout the globe as money (for its excellent monetary value) for efficient exchange (trade and barter), as ornamental, for medicinal purposes and as an immense store of wealth. These uses and many more have made it still relevant and important till this day. Amongst all, the use of gold as a means of exchange (money), and as a store of wealth has made it more prominent. However, the is a reduced rate of global adoption of Gold by the masses. This is due to the challenges and risk associated with Gold.
These challenges include;
CUMBERSOME VERIFICATION PROCESSES; The purchase of gold in the world today requires much verification process which is stressful and time-consuming. These verification processes are not convenient for a lot of people. This reduces their interest and hence reduce the global adoption rate of people in the gold industry.
HIGH TRANSACTION FEE; Some business and financial transaction are done with Gold. However, these transactions are done at a stipulated amount of money which are most times high and not affordable by all. This affects the trade in Gold and it’s global adoption rate as the high fee discourages people from the trading/using Gold.
HIGH COST OF STORAGE: Due to its high monetary value and vital uses. Gold is never free from theft. The storage of Gold (to be free from theft) is one one of the major priority of Gold owners as the Gold can’t be stored at home. To store the Gold safely, it is kept in the bank which stores them securely in a vault. This adds to the cost of purchasing and storing Gold. This also dissuades the adoption of people in the Gold industry.
Also when purchasing gold, it could take a long time for the gold to get to buyers. Before it’s arrival, the buyer’s need for it might not be there anymore, this leading to an uneasy trade and transfer.
These challenges and many more dissuade people from participating in the Gold industry thus reducing the global adoption of Gold.
However, all hope is not lost in the Gold industry because good and positive efforts are been made to provide reliable solutions to these flaws in the industry. They include the utilization of the blockchain technology in the creation of blockchain-based project which will help in transforming refined (physical) Gold into Digital Gold.
The creation of these blockchain-based project will encourage the interest of people in the gold industry, thus acting as an incentive to global adoption of Gold. A perfect example of such a project is Digital Gold Limited. This project is the first of it’s kind.
What is Digital Gold Stable coin?
Digital Gold Stable coin is a blockchain based project which focuses on transforming refined (physical) gold into digital gold to provide a lasting solution to the flaws of the gold industry. This project will guarantee the efficiency and transparency of the industry.
What are the solutions provided by Digital gold limited to the gold industry?
Digital gold token with the aid of the blockchain technology and its design is prepared to successfully tackle the defects of the Gold industry.
Digital gold token has created an ERC-20 token called Digital Gold which is backed by pure physical gold stored in the company’s vault which will be used to facilitate operations on the platform. Each token is equivalent to one gram of 99.99% pure gold. These token can be used for transaction purposes, store of wealth and much more like the physical gold.
In dealing with the price of the token, the price of the digital gold token is steady as each token is always equivalent to the price of one gram of pure physical gold. More so, the company being a liquidity provider ensures the stability in the price of the token.
With Digital gold token, purchase and sale of gold will be made easy, convenient and affordable, as it utilizes the digital gold token which does not involve cumbersome verification processes for purchase and sell, thus leading to increased participation in gold trade and global adoption of the gold industry.
Digital gold will also tackle the issue of the slow speed of transaction by leveraging the blockchain technology to ensure the digital gold token are transferred at a faster rate (in seconds).
The issue of trust and transparency in the gold industry is handled by Digital gold limited through the use of smart contract which ensures the amount of token circulated is equal to the amount of physical gold in the company’s vault.
Also, the vault will be audited regularly by bullion star which is in partnership with the company and also token owners are welcome to audit, to ensure transparency and trust of Digital gold limited.
The issue of storage is also handled by Digital gold limited as it ensures the gold is stored safely in the company vault. With the digital gold token, the stored gold can still be used for transaction purposes. Moreover, the gold tokens are stored safely by the owners in a digital ERC-20 wallet (because the Gold Token is an ERC-20 Crypto currency).
Also, the transfer of the gold token does not require any fee, and the token can be transferred from one digital wallet to another (anywhere in the world). The ERC-20 wallet guarantees unlimited and speedy transfer of the Gold Token daily. More so, the gold token can be exchanged for Bitcoin or Ethereum on the Digital Gold marketplace (gold.storage). You can also buy the gold token using Bitcoin or Ethereum (still on the marketplace). And you can trade your gold stable coin on the following exchanges:
_Cryptex: https://cryptex.net/exchange/GOLDUSD
Catex: https://www.catex.io/trading/GOLD/BTC
Consbit: https://coinsbit.io/trade/GOLDUSD
Livecoin: https://livecoin.net/en/trading/GOLDBTC
https://www.bitforex.com/en/spot/goldusdt_
Conclusion
Digital gold limited has proven that it is capable of elevating the gold industry to the zenith. By adopting the blockchain technology in its framework, it will ensure reliability, efficiency, transparency and increased adoption of the gold industry for business transaction and also as a store of wealth.
_For further insights; do look below:
Official Website: https://gold.Storage/
White paper: https://gold.Storage/wp.Pdf
Telegram: https://t.Me/digitalgoldcoin
Twitter: https://twitter.Com/golderc20
Medium: https://medium.Com/@digitalgoldcoin_
Author: hushpupppy
Link: https://bitcointalk.org/index.php?action=profile;u=2650208