Gold Stablecoin and the increasing demand for gold
Early civilizations valued Gold, because of certain characteristic properties it possesses, such as durability, scarcity, colour, reminiscent of the sun and so on. Some have even gone far as venerating it. You could recall the gold calf statue made by the offspring of Israel when Moses went to Mount Sinai? This is on the grounds that they append such a great amount of significant worth to it and they consider it to be uncommon. How at that point will gold not be profoundly esteemed? In spite of the fact that that is to disclose to you the degree to which a few people love and enhance it. Additionally, as a result of the popularity for gold, combined with its shortage, the cost keeps on expanding each year. However, a ton of requests is not met, which for the most part is a result of the conventions, decides and law that should be followed.
Digital Gold Platform
Rather than experiencing the issues associated with the buy and responsibility for, Digital Gold stage has anyway made the procedure simple for everybody, in which a token upheld up by physical gold is given on Ethereum stage, through its shrewd agreement. This has anyway made the whole procedure to be decentralized. On this stage, exchanges are automatical executed through the shrewd agreement with no pressure. The token which is given through the Ethereum stage is known as a GOLD token.
Relationship between Gold token and physical gold
Through the impact of blockchain innovation, it was conceivable to make a cryptographic token that is sponsored up by physical gold. The token, which is the GOLD token is a likeness the physical gold both in quality and in esteem. A solitary token of Gold equivalents one gram of 99.9% unadulterated physical gold. For each GOLD token that is delivered, one gram physical gold is purchased by Digital Gold organization, as a portrayal of that GOLD token, which is kept in a very much protected vault.
There is a statement that Physical Gold increments in esteem with time, which is likewise observed apparent on a GOLD token. So it mirrors that estimation of the physical gold itself. The main variety could be achieved by the general economic situation, which is constantly insignificant.
GOLD token as a Stablecoin
Truly, this isn't only a creative mind. The GOLD token is really a steady coin since it expects the steady cost of physical gold in the market. This steadiness is achieved by the connection between the GOLD token and the physical gold. To additionally fortify it, sufficient liquidity has likewise been given by the Digital Gold organization, both on the gold commercial centre on their foundation and on the various trades lodging the exchange of GOLD token.
Why is a GOLD token not affected by cryptocurrency volatility?
As prior expressed, the GOLD token is a Stablecoin that has been entrenched, to expect the cost of physical gold in the market. The cost of physical gold itself is steady and there is a yearly increment in cost, despite the fact that it may show up not to be fast. The idea of cryptographic money, for the most part, is unpredictable, yet that doesn't have any impact on the GOLD token since it is as of now upheld up by physical gold. Also, in times of crises, here is high demand for gold.
Conclusion
There are many ways to solving a problem, but one of them is definitely unique. The uniqueness of creating an ecosystem that makes it possible to buy and sell Digital Gold, a true representative physical gold on blockchain technology is an achievement, which is insurmountable by any other related project, except they decide to mimic Digital Gold project. This is truly a landmark in the history of cryptocurrency.
Useful Resources
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
Author:
Bitcointalk name: shollyen
Bitcointalk Link: https://bitcointalk.org/index.php?action=profile;u=2142952