DIGITAL GOLD: Securely Store and Make payments in Gold

I am glad to welcome you dear readers. Today we will talk about gold, but rather about the project called Digital GOLD.

About gold:

Gold is a monetary asset that countries hold in their international reserves and is sometimes used to pay off balance of payments deficits. In the past, many countries have adopted a gold standard in which gold is used as a basis to pay for supply deficits and balance of payments in the domestic market. But now the gold standard has moved into a token-based mode based on banknotes and coins. In the international arena, gold and some currencies such as the dollar and pound are also used as reserve assets.

In 1934, in a decree agreement signed between the three countries, the price of gold in the United States, great Britain and France was estimated at $ 35. This price was formally adopted by the member countries of the International monetary Fund (IMF) when it was established in 1947. In the IMF's fixed exchange rate system, gold was used as a unit. Determining the parity of member countries and member countries should be responsible for granting 1/4 of their limit as gold to the IMF. Gold continued to play a key role in the IMF system, and its official price remained at $ 35 per ounce until 1971, when the IMF's fixed exchange rate system was introduced. for systems with variable speed. However, countries are finding it increasingly difficult to maintain gold prices to increase industrial materials and jewelry. In 1961, a gold reserve Fund was created to regulate the gold trade; however, in 1968, IMF members were forced to recognize the inevitability, and a two-price structure was created. Gold is valued at $ 35 per ounce for official transactions between IMF Central banks, while the price of gold in the free market is deconstructed by market factors.

Since 1972, gold is no longer considered to be the IMF's means of payment, but is instead replaced by special withdrawal rights (SDR). IMF members should not surrender their quotas in gold. In addition to the IMF, gold continues to occupy its place as an important component of international reserves. The appeal of using gold as a reserve asset is that unlike countries ' paper currencies, which are essentially worthless, gold has convertible value because it is used in industry and jewelry. But holding gold also has the disadvantage that it is not profitable like other assets (stocks or invoices).

About the project:

As I mentioned, there are stable dollar or Euro based coins in the system, but investing in them would be pretty silly. At the end of the day, your $ 1 will remain at $ 1 again. And in "Digital GOLD" everything is a little different. Each GOLD Stablecoin is fixed at the bottom of 1 gram. So you actually invest in gold when you get GOLD Stablecoin. As you can see, the system is quite simple.

So, why do you need to buy gold tokens instead of physical gold? We'll talk about this in the next section.

The advantages of the GOLD Stablecoin:

1-security Issues arise when you receive physical gold. You must find a safe enough place to hide your gold. Most investors hide their gold in secret compartments of a house we call a pillow. This is a big risk for your investment. If you hide your gold under your pillow, you will definitely make thieves very happy. In the new system created by Digital GOLD, you can sleep peacefully in your homes while the gold is stored in a reliable steel safe. Security should be a top priority in every investment.

2-If you keep your gold in the Bank, you pay high commissions for November each period. GOLD Stablecoin is the ethereum token based on the ERC-20. Whether you want a paper wallet or a hardware wallet, you can safely store your gold for free.

3-Buying and selling gold is a difficult business and when you perform this action through a Bank you have to pay high costs. Every time you transfer or buy or sell, banks take money from you called a fee. In the GOLD Stablecoin system, you can freely transfer your gold. If you want through your own website, you can easily buy and sell gold tokens through brokerage firms. Performing this action without liquidity issues will be quite enjoyable.

4 - another important feature is the privacy that the Gold token will provide you. When you buy and sell gold in a jewelry store or Bank, everyone will know how much of your gold or who you are. GOLD Stablecoin allows you to quickly perform these operations without revealing your identity.

Project road map:

Conclusion:

Unlike various forms of cryptographic currencies, the principle of the gap in gold-backed tokens reduces the likelihood that their presentation will be unprofitable, as financial experts can exchange these tokens for gold. Speculators should then not lose all their cash due to a market crash by filling in the bullion valuation as a multiple of value (the value of a digital currency backed by gold is consistently equivalent to the value of gold). At this stage, there are no swap payments, adequate liquidity and 100% support for gold without deposits. I think this is a project that will contribute to the development of cryptocurrencies.

Thank you for attention!
All useful links can be found below:

Website: https://gold.storage/home
Whitepaper: https://gold.storage/wp.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=5161544
Telegram: https://t.me/digitalgoldcoin
FACEBOOK: https://www.facebook.com/golderc20
TWITTER: https://twitter.com/gold_erc20
MEDIUM: https://medium.com/@digitalgoldcoin
REDDIT: https://www.reddit.com/r/golderc20

═════════════★ Author ★═════════════════════

★MY BITCOINTALK USERNAME: tomson777
★MY BITCOINTALK PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=1766687
★MY ETH ADDRESS: 0x20C834700ACF061af481C4B95B58C6787dB4B052
★UNIQUENESS 100%: https://text.ru/antiplagiat/5d7b8780ec61f