Effect of Blockchain Technology on the Gold Industry and It market
DIGITAL GOLD LIMITED - Combination of the gold industry and technology.
We all live in an era were different technologies are being produced on a daily basis. This technologies has helped in the betterment of life and has affected every sector of our lives ranging from communication, transportation, health, economic and financial sector. A popular example of as such technologies is the internet were any information can be gotten from. The internet has transformed the world into a global village.
Another example of the technology produced is the blockchain technology. The blockchain technology is a very powerful tool for change(development) in our world today. It provides a lot of amazing benefits which includes, a decentralized system for operations, exchange of data between two parties without modification etc.
The blockchain technology birthed the cryptocurrency which together has helped move the world economic and financial sector to greater level and it is also making headway in improving other sector of the world.
The potential of the blockchain technology is hampered by lack of adoption by the masses and some industries as not everyone knows about this wonderful creation. This issue of lack of adoption has greatly affected the technology.
Gold has been in existence for a Long time and it is regarded as one of the earliest asset of man. It was first used by man as means of exchange (money) and in the designing of artifact which has validated its history. But today gold is also used as ornament, for medicinal purposes, construction purposes and as a superior store of wealth.
It worth is steady and it price doesn't fluctuate easily like other asset, thus making it a reliable means of payment for financial and business transactions and as a superior store of wealth.
However, the issue of global adoption by the world has greatly affected gold industry and its trade, as it has hampered the industry from showcasing it full potential. This is due to the defect of gold industry. The defect includes stressful verification process, difficulty in procuring gold, theft owing to it worth, high cost of transaction slow speed of transaction, unreliable market for trade in gold etc.
Here comes Digital Gold Limited
What is Digital Gold Limited ?
Digital gold limited is a blockchain based platform created with the sole aim of providing reliable solution to problems affecting the gold industry and the blockchain technology.
It aim doing this by harnessing the benefit of both the gold industry and the blockchain technology to improve their efficiency and global adoption rate.
Integrating the blockchain technology into the gold industry and it market would benefit a lot of businesses and financial transaction, and various sectors of the world such as the banking sector and lots more and bring the gold market to the limelight once again.
To achieve this, Digital gold has adopted some strategies which include the creation of token called Gold token which is very important in the platform.
WHAT IS A GOLD TOKEN ?
The gold token is an ERC-20 utility token which is backed by 99,9% pure gold stored in the company vault which is used for running of operations on the platform. A single token is equal to one gram of 99.9% pure gold. With the price of the gold being steady, the price of the gold token would also be steady.
What are the benefit of Digital Gold Limited ?
The benefit provided by digital gold are absolutely amazing. The include:
TRUST AND TRANSPARENCY; Digital gold ensure total transparency and trust in it operations. Digital gold ensures the quantity of token distributed is equal to the quantity of pure gold stored in the vault through the use of smart contract. The gold tokens are backed by pure gold stored in a vault owned by the company which are being audited on a regular basis by bullion star and all owners of the token.
NO THEFT OF GOLD; With the use of the gold token, the would be no issue of theft as the gold are safely stored in a vault. Moreso the token are safely stored in a digital ERC-20 wallet which is difficult to hack or compromise. Thus ensuring the safety of gold, the token and the owners.
NO STORAGE COST; The cost of storing gold is very expensive and the cost which is not affordable by all discourages a lot of investors in from participating in the gold market. With the Gold token no cost is required for it storage as it is a stored freely on a digital ERC - 20 wallet.
EASE OF PURCHASE: The gold token are purchased with ease and do not required paperwork and lengthy verification process compared to gold which required much paperwork and lengthy verification process. The gold token are purchased with just a click and in a matter of seconds the are sent to your digital wallet.
A RELIABLE DIGITAL MARKET PLACE; Digital Gold platform has created a reliable digital market place for safe and easy purchase and sell of the gold token more so, for the exchange of the gold token for other cryptocurrencies like bitcoin or ethereum based crypto-currencies.
LOW TRANSFER COST; The gold token are transferred at low cost compared to gold which require much for transfer. This makes the gold token suitable for business transaction in the ever growing digital world.
And lots more. Digital Gold Limited will also provides important and updated information on the price of pure Gold and the gold token to enable token owners to make genuine decision in the Gold market.
All these benefit are possible through the use of blockchain technology in creation of the gold token. And the would be no benefit without the importance of gold in our world today. Through these benefit others sectors and industries would utilize the potential of the blockchain technology to their benefit.
Roadmap of Digital Gold Limited
IN CONCLUSION
Digital gold limited is truly a game changer in our world today as it has showcase the potential of both the gold industry and the blockchain technology to the world thus bringing about an increased global adoption rate to both systems.
Also they gold token will be indirectly used for transaction purposes, store of wealth and much more.
For more information about Digital Gold Limited
Click the links below
https://gold.storage/wp.pdf
https://gold.storage
https://twitter.com/gold_erc20
https://www.facebook.com/golderc20
https://t.me/digitalgoldcoin
https://bitcointalk.org/index.php?topic=5161544
Username; Assam Kingsley
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2676658