The gold value
Why is gold so important? What inherent value is held by gold? Will gold continue to be valuable in the future? Today, I’m going to answer those questions and share with you the history of gold.
Gold has occupied a unique social status for millennia. It has a long history as a valuable metal and its history is far from over. From the ancient Egyptians to the modern U.S. Treasury, there are few metals that have had such an influential role in human history as gold.
Exchange value of Gold
Gold has been widely used throughout the world as money, for efficient indirect exchange (versus barter), and to store wealth in hoards. For exchange purposes, mints produce standardized gold bullion coins, bars and other units of fixed weight and purity.
As of 2014, no countries in the world use a gold standard. In other words, no currency in the world is backed by gold.The last major currency to use a gold standard was the Swiss Franc, which used a 40% gold reserve until the year 2000.Of course, that doesn’t mean that countries have sold all their gold or that their currencies are based on nothing. Most countries in the world maintain large gold reserves in order to defend their currency against possible future emergencies.
Why Gold is still needed
Gold is respected throughout the world for its value and rich history, which has been interwoven into cultures for thousands of years. Coins containing gold appeared around 800 B.C., and the first pure gold coins were struck during the rein of King Croesus of Lydia about 300 years later. Throughout the centuries, people have continued to hold gold for various reasons. Societies, and now economies, have placed value on gold, thus perpetuating its worth. It is the metal we fall back on when other forms of currency don’t work, which means it always has some value as insurance against tough times
Digital Gold
The idea of a gold digital currency has always had an appeal for those looking for an alternative payment system. Attempts to make a digital gold currency were also made, but this was before the age of Bitcoin and blockchain technology.
Now with blockchain technology established as a secure accounting method, and with Bitcoin becoming better known to the general public, a new era of gold-backed cryptocurrency is emerging. There is a proverbial (and literal) gold rush happening now in the crypto world, and even countries are looking to issue their own gold-based cryptocurrency.
The basic concept is certainly compelling. A token or coin is issued that represents a value of gold (for example 1 gram of gold equals 1 coin). The gram of gold is stored by a trusted custodian (preferably third party), and can be traded with other coin holders.
Digital Gold (Best way to anything Gold)
Allow me to bring to you tge beat and easiest way you can securely buy, store and make payments in gold digitally through Digital gold using the gold token
GOLD token is a stablecoin backed by real gold bars stored in secure and auditable vault storage at BullionStar. One GOLD token equals to 1 gram of physical gold. The token is based on Ethereum blockchain (ERC-20 standard), and is issued and operated by DIGITAL GOLD LTD company.
One GOLD token will allow users to purchase coverage of 1 gram of 99.99%
FINE gold and all gold purchased via the GOLD
token is stored in the company’s secure vault, in partnership with BullionStar. Transactions are within split seconds
Why you should use Digital Gold
Easy to use Market place
You can trade Gold token to either Bitcoin or Etherum so easily in a few steps
If you encounter any issues there is a 24 hour customer service, and also a live chat so you can’t just go wrong at all. They are with you every step.
Swift transactions.
Digital gold token can also be stored in diverse Erc-20 token compatible wallets which includes.
Trezor wallet
My Ether wallet
Metamask and many more
Conclusion
Digital Gold is the future and with the blockchain technology it is bound to break limits set in the past.
With digital gold there would be and easy buying and selling of gold, Safe and secured transactions and no restrictions. All this is through blockchain which is the future of the finance sector.
Other useful links
Official Website : https://gold.storage/
White paper: https://gold.storage/wp.pdf
Twitter: https://twitter.com/gold_erc20
Medium: https://medium.com/@digitalgoldcoin
ANN thread: https://bitcointalk.org/index.php?topic=5161544
Writer’s Details
Richard
Bitcointalk username: chucho4o
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2515427
