In 2020, the decrease in the risk appetite of investors due to the corona virus pandemic increased the demand for reliable ports such as gold.

Many famous investment companies think that it will take time until 2022 for the world economies to reach their former levels , and limited resources such as gold, silver and bitcoin will rise in this process.

German Economy Minister Peter Altmaier predicts that the German economy will shrink by 6.3% in 2020 due to the coronavirus and it will take until 2022 for the economy to reach its former levels again.

The earliest recovery year for the Aviation Sector is 2022. The aviation industry was undoubtedly the most damaged due to the corona virus. IATA (International Air Transport Association) announced that 2020 will result in a loss of 84 billion dollars and a contraction of 40%, and that it can reach previous levels again in 2022 at the earliest. JP Morgan again announced that brend oil prices could rise to $ 60 again in 2022 at the earliest.

Investment and research companies make various estimates according to various scenarios. There are reports predicting that the recovery of the economies may extend until 2025 if an epidemic occurs in the corona virus in the 2nd or even the 3rd wave.

Warren Buffett , Wall Street's most famous investor and the world's fourth richest person , invested in gold by selling bank shares. Warren Buffet answered a question about investing in gold in 2012 saying that I will never buy gold, even if it drops $ 800 an ounce, I will never invest in gold, and stated that gold is not a good investment tool. Again, in an article for the buffet, he expressed his opposition to gold with a sentence that "anyone on Mars would be confused who saw how we behave with the shining things on this planet." But it seems like his thoughts on Warren Buffet's gold have changed. Buffet, a gold firm by selling its shares in American banksHe invested 563 million dollars in the gold company called Barrick Gold .

Swiss credit : Swiss credit , a Zurich-based financial company, had an estimated $ 1800 per ounce for 2021 in its previous estimate, and updated its 2021 forecast to $ 2,500 per ounce .

Deutsche Bank: first updated its $ 1750 an ounce forecast for the end of 2021 to $ 2,000 and then announced an expectation of $ 2,400 an ounce with an update again.

Citigroup Inc. : According to the news dated May 26, 2020, the 2021 year-end forecast is $ 2,000 per ounce.

Goldman Sachs : According to the news dated 28 July 2020; Goldman Sachs previously announced an expectation of $ 2,000 per ounce, announcing an expectation of $ 2,300 per ounce .

Bank of America: The 18-month Bank of America forecast is $ 3,000 per ounce .

Bank of Australia : As per the news dated 25 July 2020, the Bank of Australia has announced an expectation of $ 2,000 per ounce for the next 5 months .

As of the time this article was written, gold is traded at 1925 dollars per ounce. Gold prices, rising sharply to $ 2100 and rallying, seem to be in a correction.

Blockchain technology will enable many assets to be digitalized in the coming years. Throughout the history of gold and silver, people have used it as a means of exchange of goods, in other words money.

However, today, due to its bulky structure, gold has lost its feature of being money and has become a value protection tool.

People try to maintain their purchasing power by turning to gold so that their savings do not melt where they stop due to high inflation ,and that is why gold is still valuable today. With blockchain technology, it is possible to digitalize gold in gold and transfer it on a transparent and reliable blockchain network that is simultaneously recorded all over the world . This can actually help gold regain its function of being the money it lost years ago.

Blockchain records cannot be changed, they are kept at the same time all over the world. Blockchain records are transparent and can be questioned by anyone.

On the blockchain, tokenized values ​​can be split forever, which allows us to transfer even 0.0001 grams of gold at close to zero expense. Today, many people cannot trade when the markets are closed, but digitalized and tokenized digital assets moving on the blockchain can be transferred 24/7. And again, many people do not trust central registration systems to determine whether digital gold accounts are worthwhile. A transparent and decentralized recording system will cause people to have more trust.

Many countries in the world, including our country, are working on blockchain technology. As you will see in the following news, the widespread use of gold as a digital asset can accelerate gold trade and cause gold to regain its feature of being money over time.

In the rest of our article, we will examine the Digital Gold (Gold.Storage) project , a gold-based tokenized asset that runs on the Ethereum blockchain.

Under the title of Blockchain and gold, we talked about how blockchain technology can affect gold and for what reasons it can accelerate gold trading. Here is an example of this, gold.storage's token named digital gold is working on the ethereum blockchain and every transfer made can be seen transparently on the ethereum blockchain.

The company, which holds physical gold reserves in Singapore, tokenizes its gold assets and issues 1 GOLD token for every gram of gold stored as reserves.

Each 1 GOLD token is worth one gram of gold. GOLD tokens are traded on cryptocurrency exchanges and decentralized DeFi applications. With the development of DeFi, decentralized finance applications, in the near future, gold-based cryptocurrencies such as Gold Token or gold tokens or various tokenized assets may be possible in various financial transactions such as collateral and obtaining loans without intermediaries.

The amount of tokens circulating in the market can be questioned at any time thanks to the Ethereum blockchain, which is transparent due to its structure. In this way, users can compare the total circulation number of their tokens in the market and the amount of gold held as reserves. The company, on the other hand, earns an annual revenue of 0.99 percent as a gold storage service.

By clicking here, you can view the number of Digital Gold tokens in circulation over etherscan.

Although the Ethereum blockchain is transparent, it can be considered anonymous. Although each of the transfers made is recorded, there is no record of the identity of the wallet owners. During the purchase and sale of Digital Gold tokens, users can transfer anonymously and hold Digital Gold tokens anonymously, without having to present their identity.

More videos are available on Digital Gold YouTube channel.

If you are interested in the digital gold project, you can watch the promotional video above and visit the relevant links below.

Related Links:

Website: https://gold.storage

Bitcointalk Announcement Title: https://bitcointalk.org/index.php?topic=5161544

Whittepaper : https://gold.storage/wp/White_paper_en.pdf

Telegram: https://t.me/digitalgoldcoin

Twitter: https://twitter.com/gold_erc20

Blog: https://steemit.com/@digitalgoldcoin

Reddit: https://www.reddit.com/r/golderc20/

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This article published by fauzan123

Ethereum Address : 0xcAD9187D8fB2528e2e464d49d3e11c4848821741

#digitalgold #blockchain #ethereum #cryptocurrency