Gold assets are one of the assets that have been used by humans to maintain their assets for thousands of years. Gold has a stable price stability and is certainly superior to all fiat currencies in the world today. It is normal that at least everyone invests their money into gold. Unfortunately, currently the process and the funds needed are quite complex and expensive. Well, what if the project gives us an ecosystem where gold is combined with blockchain technology? Curious? If so, you can see the article I will write below.
Introduction
I remember reading the story of the man speculated to be the richest man that ever lived — Mansa Musa, the ruler of the Mali Empire in West Africa between 1312 and 1337. He controlled a territory with an abundant supply of gold and copper which includes the gold coast of Africa (part of modern-day Ghana). It is speculated that his net worth in today’s valuation would be about $400 billion, with his immense wealth being mostly as a result of his gold assets.
Gold has been a valuable resource long before the time of Musa with references being made to it as a valuable in ancient scriptural texts for adornment, construction, ornaments and as a measure of wealth. The value of gold has grown over the years since then, as with it, the challenges associated with accessing, purchasing, and securely storing it.
Digital Gold Marketplace, What is that?
This is a platform that facilitates us to make the process of buying or selling gold-backed token easily and more efficiently. By using the Digital Gold marketplace platform, when users are interested in buying gold tokens or selling them, they only need to fill out the form on the website and when they finish filling out the form, their system will start a smart contract automatically, after all the transaction processes are completed, New gold tokens will be printed automatically. The purpose of this Marketplace platform is to facilitate each transaction process for the instant purchase or sale of Gold tokens without the need to go through a complicated step, of course this will make it more effective.
Their platform also provides us with information on gold prices in the global market. With this feature, of course, it will provide customers to research potential gold price trends at this time efficiently and maximize their portfolio. Besides that they also provide a chart column feature for Gold price lists in major Cryptocurrency such as Bitcoin (BTC) and Ethereum (ETH). Not only giving us a marketplace platform, Digital Gold also gives us important features such as the current gold price trend chart, this makes it the all-in-one Gold Marketplace Platform. Well, maybe you are interested in trying it? You can do a calculation experiment or analyze the chart on their marketplace website here: https://gold.storage/market
How Digital Gold makes gold an easy means of settlement
Why go through the hassles of holding physical gold and its associated risks when you could own digital tokens securely backed by physical gold?
Unless you live in Saudi Arabia or China, it is highly unlikely for you to make a withdrawal at the ATM in gold to make purchases or for settling some other financial responsibility. This makes gold — although a great store of value — inappropriate for day-to-day expenses.
DIGITAL GOLD employs blockchain technology in the tokenization of gold to create Ethereum-based tokens which are compliant with the ERC20 protocol. These tokens called the Digital Gold Token(GOLD) serve to provide liquidity for physical gold of high purity(99% FINE gold) which are safely stored in the company’s vault.
In case you’re wondering whether or not the vault could be empty,(because I thought of it), the vault is audited by BullionStar with which the project has entered into a partnership. This is to ensure transparency and to verify that tokenized gold is safely stored. Whenever any gram of gold is tokenized, a corresponding amount of gold is physically committed to the company’s vault and the amount of gold stored can be verified at any given time.
Since the process of token purchase (which corresponds to the tokenization process) is controlled by smart contracts and securely stored on the decentralized infrastructure of the blockchain, transaction details cannot be altered, ensuring further accountability and transparency.
What is Gold Token?
Gold tokens are native tokens issued by the Digital Gold Team, this token uses Ethereum Blockchain technology (ERC-20) which makes it more safer also faster and certainly makes it more efficient because of the smart contract technology in Ethereum Blockchain technology can do hundreds of transactions in one second, this makes gold tokens meet the criteria to become standard tokens that represent Gold Assets in the cryptocurrency world. Gold tokens are backed up by real gold which makes the value will be in accordance with the gold assets owned by Digital Gold at this time, of course this makes it an alternative to investing in gold.
Gold tokens can also be exchanged instantly in their marketplace 24/7 without the need to bring physical gold like the traditional system used today. Besides making it more efficient, this makes it safer and they are also committed to ensuring liquidity with low spread and no slippage. As I wrote earlier, we only need to fill out the form and then exchange the Gold token into the Major cryptocurrency that we choose, it's easy right? Anyway, You can verify the gold token issued by their team which is backed up by physical gold through their audit page here: https://gold.storage/audits
Conclusion
A show of true confidence and proof of value; a fully developed platform completely self-funded.
It is important to note that within the blockchain space where most projects enter into the cryptocurrency market through some form of crowdfunding (ICO, IEO, STO), Digital Gold is a fully self-funded project. Most projects raise funds through crowdfunding intending to create or develop some service or technology that may or may not be of value to the cryptocurrency ecosystem, in the long run, not to mention projects that come into the space intending to defraud investors.
GOLD provides the cryptocurrency space with the ideal gateway into the gold market while also providing further liquidity for the gold market by making it available to the fast-growing cryptocurrency market, offering immense value to both markets.
As technology continues to advance, the tokenization of physical assets will continue to experience further adoption because of the reduced risks associated with purchasing and owning tokenized assets which are backed by physical assets, their ease of use, the high liquidity of the cryptocurrency markets and its profit potential.
I think it's enough for now, Do not forget to follow & upvote, I will give some links related to Digital Gold Platform below. Thank you very much!
Website: https://gold.storage
Facebook: https://facebook.com/golderc20
Twitter: https://twitter.com/gold_erc20
Telegram: https://t.me/digitalgoldcoin
Bitcointalk: https://bitcointalk.org/index.php?topic=5161544
Whitepaper: https://gold.storage/wp.pdf
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Cre: Khuongcute2503