For many years, gold represented a standard of wealth preservation and has in many circles still remained so, with even more modern considerations for it as a medium of exchange. Although fiat currencies may have more prevailing usage due to portability, gold’s intrinsic properties make for superior value when compared to any other standard medium of exchange.
Digital Gold recognizes this and is launching a stablecoin-like cryptocurrency that would be pegged to real-world gold bullion assets, thus digitizing the value of gold.
Digital Gold’s objective is to use the blockchain to transform the financial markets. And starting with the tokenization of gold’s approximate USD 3 trillion market cap, its stablecoin GOLD will facilitate the real-time movement of physical gold in digital form and allow holders to transact over the blockchain as though they were performing a real-time transfer of physical gold bullions.
The blockchain would allow for transparency, easy auditing, and a seemingly trustless protocol through smart contracts for handling gold transactions conducted over the digital ledger. And this is expected to promote gold – a legacy medium of exchange – and help it adapt to the emerging fintech ecosystem. With the digitization of gold, more legacy investors can easily transition into emerging investment and wealth accumulation models provided by the blockchain.
The cryptocurrency ecosystem is filled with many digital assets with high volatility and very low credibility. This is because, despite the speculative value of these emerging asset classes, they have not been tried and tested the way precious metals have. And this is a truth all precious metal investors are well acquainted with and, perhaps, one of the reasons precious metal maximalists contend with the likes of Bitcoin and altcoin investments.
With Digital Gold’s initiative, all and sundry within the cryptocurrency and precious metal ecosystem will be given an opportunity to leverage both the integrity of gold through historic performance and that of the blockchain through code efficiency.
The solution, GOLD, is an Ethereum-based stablecoin that will be equal to and backed by a gram of 99.99% real gold stored in a secure vault. The asset will be pegged to the spot price of gold in real-time thereby providing an opportunity to buy, store or sell investment-grade gold at any point in time without any risk attached.
Another benefit of being on the blockchain is to enable holders of GOLD to own and use gold anonymously. Moreover, it confers the advantage of lower volatility, high liquidity and hence protects the GOLD digital asset or other tokenized precious metals from loss in value as is often observed with many cryptocurrencies during bearish market conditions.
With a low annual 0.99% storage fee, anyone can start owning gold assets, as Digital Gold has lowered the entry barrier to safely and securely purchase precious metal assets.
Unlike conventional token offerings, Digital Gold isn’t conducting an initial coin offering, instead, through smart contracts, the tokens are readily available and directly bonded to gold stored in a secure vault owned by BullionStar. Therefore, no crowdfunding is required, and the purchase of the GOLD token results in the instantaneous ownership of physical gold.
To learn more visit the Website: https://gold.storage
This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content above.
Last modified (UTC): September 12, 2019 9:30 AM