Digital Gold-The Cryptocurrency Backed Physical Gold 

Pieces Of Gold History

So as to completely comprehend the aim of gold, an individual has to return to the beginning of the gold industry. While gold's background started in 3000 B.C, once the ancient Egyptians began forming jewelry, it was only in 560 B.C. that golden began to function as a currency. At that moment, retailers wanted to make a standardized and readily transferable type of cash that would simplify commerce. The inception of a gold coin stamped with a seal appeared to be the response, as gold jewelry has been widely accepted and understood throughout various parts of the planet.

After the dawn of gold as a currency, its significance continued to rise throughout Europe and the U.K., together with relics in the Roman and Greek empires prominently exhibited in museums across the world, and Great Britain growing its metals-based money in 1066. The British pound (representing a pound of sterling silver), shillings and pence were based on the total amount of gold (or silver) is represented. Finally, gold represented wealth throughout Europe, Asia, Africa, and the Americas.

Gold In The Modern Economy

Though gold no more backs the U.S. dollar (or alternative international monies for that matter), it carries importance in modern society. It's still very important to the international market. To confirm this stage, there isn't any need to look farther than the balance sheets of central banks and other financial associations, like the International Monetary Fund.

Currently, these associations are responsible for holding roughly one-fifth of the planet's source of above-ground gold. Additionally, many central banks have added to their own current gold reserves, representing concerns regarding the long-term worldwide market.

Gold Preserves Wealth

The reasons for gold's importance in today's economy centers around the fact that it has preserved wealth throughout thousands of generations. The same, however, cannot be said about paper-denominated currencies. In the early 1970s, one ounce of gold equaled $35. Let's say that at that time, you had an option of holding an ounce of gold or simply keeping the $35. They'd both buy you the very same things, like a brand-new small business suit or fancy bicycle. But if you had an ounce of gold now and converted it to the costs, then it would still be sufficient to buy a brand-new lawsuit, but the same can't be said for the $35. In short, you would have lost a substantial amount of your wealth if you made a decision to hold the $35 compared to the one ounce of gold because the value of gold has increased, while the value of a dollar was eroded by inflation.

Gold as a Diversifying Investment

Generally, gold is viewed as a diversifying investment. It's apparent that gold has served as an investment which may add a diversifying part for your portfolio, whether or not you're concerned about inflation, a decreasing U.S. buck, or perhaps protecting your wealth. If your attention is only diversification, gold isn't connected to shares, bonds, and property.

The New Way Investment In Gold

Currently, with blockchain technology established as a protected accounting method, as well as Bitcoin, getting better known to the general public, a fresh age of gold-backed cryptocurrency is now emerging. There's a proverbial (and literal) gold rush occurring today in the crypto world, as well as nations are wanting to issue their particular gold-based
cryptocurrency.

Digital GOLD Project

And now, I am introducing The GOLD token is a stablecoin backed by actual gold bars stored in safe and auditable vault storage in BullionStar. 1 GOLD token equals to 1 gram of gold. The token relies on Ethereum blockchain (ERC-20 benchmark ) and is now issued and issued by DIGITAL GOLD LTD business.

A minimum, the cost of the coin will remain equal to the present gold price. In case the GOLD Token gets popular then the purchase price of the coin can possibly raise in value, higher than the worth of gold. In case the GOLD Token does not remove than the value stays as the worth of this gram of gold. It is like a built-in stop-loss.

Gold Token Features

The GOLD token boasts many notable features that aim to ease the use of blockchain for digitizing assets. By buying gold through the token, Clients access:

1. A low-cost token that requires no transfer fees
Users can opt to send the GOLD Token anywhere on the planet, without needing to be concerned about volatile transaction Fees, because of all transfers is free. Users are also allowed to create unlimited Payments since the service doesn't inflict account limitations. Users must note that Transfers still demand the gas tax billed by the Ethereum network.

Therefore, It's important to consider that the support price is Made to be comparable, or lower than the charges related to storing Gold in a depository or lender. Users may expect to cover a 0.99% yearly storage fee.

2. Diversify portfolios, and keep wealth in a safe haven

The Present cryptocurrency marketplace conditions generally involve volatile cost Swings, hence providing all purchases a high-risk element. The Majority of the currently available coins Aren't trusted to maintain their worth from the long-run, since the Marketplace

But, gold signifies a monetary advantage that has held its worth for tens of thousands of years. Backed by equilibrium. Certainly, gold is among the world's safest resources to Have For storage. Its digitization through the GOLD token empowers users to Buy Coverage in gold, which may subsequently be utilized to exercise security against Inadequate market conditions, regulatory and volatility changes.
The GOLD token could be readily and immediately bought, sold, and traded Thus demonstrating why it reflects a strong addition to present client cryptocurrency portfolios.

3. Secure gold ownership
The challenges associated with buying and saving gold are briefly outlined previously. The procedure normally involves quite a lot of hassle. To buy gold, individuals that are interested have to discover a trusted provider, manage paperwork, then proceed to fasten the newly-purchased metal. Hosting it at a bank is a safe option, however, it involves much more paperwork, together with storage charges.

The inherent risks associated with keeping gold in a home are well known, because of this day, burglary remains an issue that society must protect against.
These challenges could be disregarded using Digital Gold. Together with the GOLD token,
clients buy coverage in real gold, saved by the business is protected vaults. The insurance coverage is presently supplied by a single of the world's biggest insurance underwriters, the Chubb Insurance Company.

The guaranteed gold is saved in Singapore, and it is a perfectly-viable place as a result of its powerful property rights. It's also pertinent to say that blockchain technology offers protection against cyber-risks too. Thus far, blockchain remains impenetrable, given that no people blockchain ledger was hacked for this day. Safety on the user-side could be guaranteed provided that token users protect themselves from key-loggers and other sorts of malware. But, no third party may obtain access to an individual account without finding the wallet identifier along with the related private key. Furthermore, blockchain immutability helps to ensure that all trades are permanent, thus nominal users face no chargeback risk.
Finally, 100 percent of bought tokens are coated with gold.

The sum is equivalent to the worth of physical gold that's purchased on the benefit of customers and kept in a BullionStarbased protected vault. Consumers are free to perform their due diligence by checking that the BullionStar live audit accounts.

4. High liquidity Digital Gold
The GOLD token guarantees high liquidity because of the token issuer firm,
DIGITAL GOLD LTD also functions as a liquidity provider. Users are allowed
To instantly buy and sell considerable quantities of tokens, through the Digital Gold
Marketplace, or spouse buys.

Liquidity is so accessible on-demand, and also the rates consistently closely fit
Current gold market rates.

5. Private gold ownership experience
As briefly Mentioned Previously, coping with physical gold involves that consumers
Disclose private information to stay in compliance with federal regulatory
frameworks. The overall lack of standardization endorsed from the sheer quantity
Of information collection, has caused the look of a society which is more privacyconscious. The GOLD token permits for physical gold possession when staying
Personal

6. Guaranteed long-term life expectancy of purchased GOLD
Most financial analysts concur that the life expectancy of gold vastly outweighs Our own. This conclusion is backed by the Lindy Impact, a concept that describes The way the future life expectancy of an asset is directly proportional to the current Age. Gold's prevalence for thousands of years ensures the precious metal Will remain relevant for many years to come.

The concept of a gold digital currency has always had an appeal for those looking for an alternative payment system. And Digital GOLD is the answer to everybody that is looking for the easiest, safe and guaranteed for the investment value.

Project links:

Website | Whitepaper | Twitter

Author:

Bitcointalk account: roberdecryptos