DIGITAL GOLD: A BLOCKCHAIN-BASED PROJECT DESIGNED TO REVOLUTIONIZE THE FINANCIAL ASSETS
I read the narrative of the man guessed to be the most extravagant man that at any point lived — Mansa Musa, the leader of the Mali Empire in West Africa somewhere in the range of 1312 and 1337. He controlled a domain with a rich inventory of gold and copper which incorporates the gold shore of Africa (some portion of cutting edge Ghana). It is theorized that his total assets in the present valuation would be about $400 billion, with his massive riches being for the most part because of his gold resources.
Gold has been a significant asset some time before the hour of Musa with references being made to it as an important in antiquated scriptural writings for enhancement, development, decorations and as a proportion of riches. The estimation of gold has become throughout the years from that point forward, likewise with it, the difficulties related with getting to, acquiring, and safely putting away it.
The relative dependability in the cost of gold and how it can serve the cryptocurrency market
Gold buys in current occasions for contributing. One of the significant elements of gold in the forex market is to fill in as a store of riches asides being effectively exchanged. This can without much of a stretch be seen by the gratefulness in the estimation of gold at whatever point the quality of the statement money debilitates just like the case with the US dollar. This store of riches and relative value security could without much of a stretch serve the cryptocurrency market which is vulnerable to high instability in costs.
A brisk examination could without much of a stretch be demonstrated utilizing the value change of Bitcoin(BTC) and Gold inside the most recent thirty days. Inside this period, BTC has encountered value deterioration of over $4 000 while gold has encountered just mellow devaluation in the midst of change of about $62, this data is graphically demonstrated as follows.
How Digital Gold makes gold a simple methods for settlement
Why experience the issues of holding physical gold and its related dangers when you could claim digital tokens safely upheld by physical gold?
Except if you live in Saudi Arabia or China, it is exceptionally far-fetched for you to make a withdrawal at the ATM in gold to make buys or for settling some other financial duty. This makes gold — albeit an incredible store of significant worth — improper for everyday costs.
DIGITAL GOLD utilizes blockchain technology in the tokenization of gold to make Ethereum-based tokens which are consistent with the ERC20 convention. These tokens called the Digital Gold Token(GOLD) serve to give liquidity to physical gold of high purity(99% FINE gold) which are securely put away in the organization's vault.
In the event that you're pondering whether the vault could be empty,(because I thought of it), the vault is evaluated by BullionStar with which the project has gone into an organization. This is to guarantee straightforwardness and to confirm that tokenized gold is securely put away. At whatever point any gram of gold is tokenized, a relating measure of gold is physically dedicated to the organization's vault and the measure of gold put away can be confirmed at some random time.
Since the procedure of token purchase(which compares to the tokenization procedure) is constrained by smart contracts and safely put away on the decentralized framework of the blockchain, exchange subtleties can't be changed, guaranteeing further responsibility and straightforwardness.
What the Digital Gold Token is, its points of interest, and how it means genuine Gold.
One Digital Gold Token(GOLD) gives inclusion to one gram of 99.9% FINE gold, thus, its cost is proportional to the cost of one gram of fine gold. Since gold as an advantage is effectively being exchanged over various markets, its cost is moderately stable, though some mellow value vacillations. To make up for these variances, the spot cost of gold is used continuously in the acquiring and selling of GOLD, guaranteeing that the cost of GOLD is pair with the constant cost of gold.
GOLD offers various favorable circumstances both to the market of gold financial specialists and the cryptocurrency markets, some of which are referenced beneath:
• Liquidity for the securely put away physical asset(gold)
Gold in a vault is gold in a vault, or is it?
GOLD takes into account gold safely put away in the vault to in any case be effectively utilized for financial exercises. GOLD could be utilized to make buys, settle obligations and substantially more, guaranteeing that despite the fact that the physical resource is safely put away, its incentive as a methods for exchange and settlement is rarely lost.
• Protection against value vacillations in the cryptocurrency markets.
The cryptocurrency market is liable to extremely unstable value vacillations, this can without much of a stretch be found in the general market capitalization change. Holders of cryptocurrencies can without much of a stretch benefit from the market development, in any case, in negative market conditions, the misfortunes could be exceptionally considerable. To avoid misfortunes, cryptocurrencies could without much of a stretch be exchanged for GOLD at whatever point negative market conditions are envisioned.
• Secure responsibility for gold
Buying gold requires a great deal of administrative work and a fairly protracted procedure, this is asides the expense of verifying the physical gold itself. The GOLD token makes it simple for financial specialists to buy genuine gold helpfully and secretly utilizing any internet-empowered gadget with no problems or lawful administrative work, making it simple for people to put resources into the gold.
• High liquidity for GOLD
The parent organization of GOLD — DIGITAL GOLD LIMITED being a liquidity supplier, encourages huge volume transactions(purchases and deals) utilizing the local marketplace of the Digital Gold platform — the Digital Gold Marketplace, and other auxiliary accomplice exchanges. This guarantees there is a prepared market paying little mind to the nature and the volume of the exchange.
• Free move system for GOLD
The GOLD token being issued on Ethereum can undoubtedly be moved with no payment of exchange charges being required by the platform with just irrelevant network expenses for preparing the exchange on the Ethereum network.
The Digital Gold Marketplace
To encourage further liquidity, the Digital Gold platform has built up its marketplace for the simple buy, deals, and the trading of the Digital Gold token for different cryptocurrencies like BTC or Ether. Applicable data on the costs of gold and different cryptocurrencies like constant costs and diagrams can without much of a stretch be gotten to empower users to settle on educated exchange choices.
CONCLUSION
A demonstration of genuine certainty and evidence of significant worth; a completely created platform totally self-financed.
It is essential to take note of that inside the blockchain space where most projects go into the cryptocurrency market through some type of crowdfunding (ICO, IEO, STO), Digital Gold is a completely self-subsidized project. Most projects raise assets through crowdfunding proposing to make or build up some administration or technology that might possibly be of an incentive to the cryptocurrency ecosystem, over the long haul, also projects that come into the space expecting to cheat financial specialists.
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Exchange rate as at the hour of distributing
GOLD furnishes the cryptocurrency space with the perfect door into the gold market while likewise giving further liquidity to the gold market by making it accessible to the quickly developing cryptocurrency market, offering gigantic incentive to the two markets.
As technology keeps on propelling, the tokenization of physical resources will keep on encountering further selection in light of the decreased dangers related with obtaining and owning tokenized resources which are upheld by physical resources, their convenience, the high liquidity of the cryptocurrency markets and its benefit potential.
Keen on turning into the Mansa Musa of the digital period and profiting by the long haul gratefulness in the estimation of gold? Or then again would you like to ensure your assets put resources into the cryptocurrency market from conceivably negative market conditions? Why not become a pioneer of things to come of physical resources by obtaining GOLD today!
You can refer to more information on this project:
Website: https://gold.storage/
Facebook: https://www.facebook.com/golderc20
Twitter: https://twitter.com/gold_erc20
Medium: https://medium.com/@digitalgoldcoin
Telegram: https://t.me/digitalgoldcoin
Author: Pweedy
Bitcointalk Url: https://bitcointalk.org/index.php?action=profile;u=2231370