DIGITAL GOLD: GIVING GOLD A NEW FORM

lordazekage (27)in #cryptocurrency • 5 years ago

INTRODUCTION:

From the time man knew what precious metals were, gold had been at the top. When it had to do with measure of wealth, the one with the most gold was the wealthiest. If beauty with class was what one was aiming for then the best choice would be gold. As a means of payment gold has been used far before the coming of dollars. When dollars and other currencies lose their values, gold remains unaffected. So as a store of value gold still rules. All in all, in every domain where gold can be found it is the king. This is why in recent times so many projects are based on gold. But they all use methods which are old and obsolete in conducting their businesses. Not Digital Gold, it is different from the rest. Digital Gold uses the safest, most recent and advanced technology to conduct it's gold related business; the Blockchain technology.

DIGITAL GOLD:

So what really is this Digital Gold which I speak of? Digital Gold is an electronic money asset that is backed by physical gold stored in a secure vault in Singapore. It has its own token, GOLD token through which it's activities are conducted. GOLD token is an ERC-20 based stable coin that is set up on the Ethereum Blockchain platform and 1 of it, (1 Gold token) is equivalent to 1 gram of physical gold of about 99% purity.

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FEATURES OF DIGITAL GOLD:

Now that we know what Digital Gold is let us talk a little about what makes it unique from every other gold related projects out in the market. Some of the features of Digital Gold include:

Instant purchasing of gold:

Unlike the traditional method of purchasing gold where one may need to search and search and go through numerous intermediaries before one may find the right person to buy good quality gold from, Digital Gold have come up with a far shorter and easier route. The GOLD token is a virtual representation of a fraction of gold so all you need to do is get the GOLD token, it can be easily exchanged for the actual physical gold itself. The GOLD token can also be stored just like actual gold and resold at a later date.

Real time price and security:

GOLD token is a stable coin and it's value of 1 GOLD token for 1 gram of gold is constant. This provides a real time price, security and also ease in owning gold because it comes with all the advantages of owning gold with virtually none of its disadvantages.

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Minimal cost for ownership:

Unlike physical gold where on acquisition several intermediaries may collect commission, there is cost of safe storage in banks or other financial institutions and other forms of expenditure. GOLD token does not have all these, they are merely safely stored in your wallet and cost next to nothing for gas for transaction fee.

Privacy Protection:

Digital Gold provides it's token holders with privacy protection and animosity. Your purchase, storage and subsequent transactions of the GOLD token is for you alone to know and the general public has no business in knowing about it.

CONCLUSION:

The little spoken above about Digital Gold doesn't beginning to explain the greatness of this innovation. Not only does Digital Gold take us back to our roots, to a time where things were simple, it also uses a commodity which is timeless and is universally accepted. It also provides a platform for those who have always wanted to get involved in the gold world but for some reason have not been able to, while also making things easier for those already in. I really do recommend Digital Gold to all the gold lovers out there, this project was specifically designed for you.