Continuing to accumulate reserves in gold remains a reasonable action today. Not everyone has the way to do it, except for those that retain jewelry that they acquired in the past product of an investment or family inheritance.
In ancient times gold coins were minted, but when man entered because of the precious material he could notice that those types of coins were worth more for the type of material they were composed of (gold), than for the value figure associated with them In the economy.
In a previous installment, I could highlight how the Colombian company GEMERA created an active crypto backed by emeralds, which could function as a deposit or as an exchange in the stock market. According to that, I asked myself a question, according to the occasion:
Could a company create a Token whose value is backed by Gold?
It should be noted that today a company can create its own blockchain and launch a token with specific characteristics according to the branch of its work activity.
In contrast to the above, I also conducted an investigation about SMT tokens promoted from the Steem platform where developers can launch their own utility tokens built directly into the Steem blockchain architecture.
It was like that, as I had the idea of spreading this new material related to the possible tokenization of Gold as a raw material that supports a Crypto token. Having as reference my country Venezuela, a territory where there is the exploitation of valuable minerals, among them:
I assumed that the conditions are in place for any entrepreneur to enter blockchain with a view to making a financial Crypto economy based on some of these materials.
It should be noted that the exploitation of these resources is regulated by the national government through Sunacrip (National Superintendence of Cryptoactive and related activities) and could not be sure of how the laws apply in this case.
However, the proposal is still interesting, since it has as its current precedent, the creation of a cryptocurrency whose value is anchored to oil, which is the gross domestic product of this nation (Venezuela).
Digital Gold Platform
"In the search for an answer on the subject, I found a platform that uses Gold as a backup for its native cryptocurrency, it is called "Digital Gold" and I found it interesting to review its current project."
It is an ERC-20 Token built in the main Ethereum network, it is decentralized gold, which increases its cryptographic value constantly to the same extent that it increases the price of gold worldwide.
The company responsible for the issuance of the DIGITAL GOLD LTD token, is based in Saint Vincent and the Grenadines and is backed by a group of accredited professionals in Singapore, where they maintain the gold storage vault.
The GOLD cryptocurrency, created to maintain the anonymity of its holders, has its equivalent in real gold, stored under strict security parameters in vaults, and can be exchanged for physical material (gold), if the client wishes.
Digital Gold is considered a Stablecoin given its support in real gold, the intention is that the currency can strengthen the market and be used to make all kinds of purchases or exchanges anywhere in the world.
The backup gold is of high quality with 99.99% purity and a GOLD Token = 1 gram of Gold.
The form of cryptographic storage offers security to the user, since it can be freely traded as real gold without the need to carry it physically, which would represent a social risk.
Additionally, I was able to investigate a very relevant feature which I am pleased to know; The payments made with GOLD, as well as the exchanges made from your digital portfolio, do not generate any type of commissions per transaction, this being a valuable condition since in most cases the customer is affected because a considerable part of their values Digitals are consumed within the framework of the exchange.
GOLD can be considered an advantageous cryptocurrency in front of the FIAT, since being anchored to the price of gold worldwide, it is not subject to volatility or sudden changes in value.
Exchanges are allowed 24/7 from anywhere in the world, through compatible exchanges or through the wallet contained in its Official Web Site.
Through this video, you can expand the information about "Digital Gold"
I can recommend you read the road map, to appreciate how the company has achieved its goals since its genesis in 2018, until its current plans in 2020.
"After making this thorough review I can issue the following personal assessment regarding the subject of study."
Gold deposited as a backer of financial assets is of great advantage because of its stable value without expiration time. Blockchain technology allows the construction of virtual tokens which serve to store values in a secure way and under strict confidentiality patterns, based on these two aspects, the company DIGITAL GOLD LTD, offers its ERC-20 token "GOLD" with which you can acquire, exchange or store digital values backed by real gold, which will be available in your portfolio 24/7 from anywhere in the world.
"I hope this article has been
to your liking and has served to expand
your knowledge in
the Cryptographic area"
to read the White Paper if you need more information."
"Review conducted by @nachomolina, for dissemination and information purposes. It does not correspond to any contest or any other type of commitments. It is recommended to seek advice before making any financial decision on the material described above."
"Your opinion is important, I will gladly answer your comment"