Gold is regarded as one of the oldest precious metal on earth. Its vulnerability and durability have make it to be use as ornamental and means of financial exchange by elites. The richest man of all time king of mali Mansa Musa have been said to have acquire its wealth through the trading of golds which worth over $400billion between 1312-1337. The high market demand and low market supply have make golds to be refer to as one of the most expensive natural resources on earth.
The possession of physical golds leads to clients spending sheer amount of capital in storing and securing physical golds, this have make users who purchase and transact physical golds to reduce over the years. Also, the banking sector owes most gold Exchange Trade Funds ETFs, this give rise to digital gold as a substitute for this so called ETFs to trade tokenised golds on its platform and also provide register clients on the digital gold platform with other benefits such as securing gold ownership, access to diverse portfolios, high liquidity and low transaction fees.
The GOLD token is an erc-20 token which users can trade, invest and buy gold virtually with. The blockchain technology makes the trading of GOLD to be secure, transparent and also protect the privacy of the users involved in the transactions. These virtual GOLD are actually pair with physical gold which is store in the Digital Gold Vault and its secure by the BullionStar company.
The total circulating supply of the GOLD tokens is equal to the numbers of gold store in the vault. This makes the GOLD to serve as a multifunctional token by serving as a stablecoin and protecting users from liquidity issues as there will always be enough gold in the vault to keep the GOLD tokens in circulation for users for trading easily. Stablecoins price is usually pegged to other currencies or trading assets which serve as collateral to the stablecoins, the physical gold is the collateral in the case of the GOLD tokens making the value of the GOLD tokens to be stable and protected from high market volatility. BullionStar will run the company vault audits to keep records on the number of golds in the vault.
Complications such as security measures, high market demand compare to its low market supply and strict legal procedures have make the acquisition of golds to be difficult thereby paving way for Digital Gold to explore the blockchain technology to produce golds which will cheaper to afford, readily available and protect clients data.
The Gold token choose to operate on the ethereum based blockchain cause of the automatic records, security funds, instant transactions, immutability and smart contract functionality which ensure that the number of GOLD tokens in circulation is equal to the amount of real physical golds in the network vault. The Ethereum blockchain is consider to be transparent, secure, solid and bug free with its open source code eliminating all centralized entity in accessing tokens in circulation. The GOLD token can be stored on ethereum-compatible wallets which includes; Trezor, Guarda, MetaMask, Ledger Nano S and MyEtherWallet.
ROADMAP
Follow Digital Gold through;
https://gold.storage/
https://twitter.com/gold_erc20
https://t.me/digitalgoldcoin
https://medium.com/@digitalgoldcoin
https://www.reddit.com/r/golderc20
https://gold.storage/wp.pdf
Author
Btt profile link: https://bitcointalk.org/index.php?action=profile;u=1243388
Congratulations @scorpio92! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPVote for @Steemitboard as a witness to get one more award and increased upvotes!