Introduction

Many people consider gold as a reserve against inflation and devaluation. You may recall that in the 2008 crisis, more and more people were investing in gold to preserve the value of their assets. Gold has long been of great interest to human beings throughout history due to its beautiful luster, high resistance to oxidation and other chemical agents, good formability and scarcity. However, keeping large amounts of gold has always been challenging. You may be exposed to countless thefts or risks at various stages of maintenance or even when you need to sell it. But how can the risks of keeping and transporting this precious metal be safely overcome while preserving the value of the assets? Today, technology is concerned with eliminating the risks of storing and transporting, buying and selling gold. Below is one of the most important technologies that can be used to hold gold.

Blockchain technology

Simply, a blockchain is a type of information and reporting system. The difference with other systems is that the information stored on this type of system is shared among all members of a network. With the use of data encryption and distribution, the possibility of hacking, deleting and manipulating recorded information is virtually eliminated. The concept of blockchain first emerged with the advent of bitcoin, and the king of digital currencies used this strategy to store information about users' assets. To better understand blockchain, consider the following example: In a group of 100 people, I pick up an information sheet and everyone takes a picture of it with their mobile phone. Now if I delete that information, or change it, it is no longer acceptable to that collection, because they have a copy of the original, unless I take everyone's mobile and delete it. The group we talked about could be the millions we see in Bitcoin and Atrium and other blockchain digital currencies, or it can be used privately for a specific group. Blockchains can be used privately and for specific purposes in an institution or organization, also called the Enterprise blockchain. How does the China block work? The word Blockchain is a combination of the words Block and Chain. This technology is actually a chain of blocks. In each block, any information can be recorded; From the crimes of one person to the details of transactions of a monetary network such as Bitcoin. The information is stored in blocks and the blocks are linked together in a chain.

As we have said, bitcoin and decentralized digital currencies are the most important and successful applications of Chinese blockchain technology. For example, in Bitcoin, this technology eliminates the possibility of fraud, double spending and return of transactions. But this technology can have many other applications besides digital currencies, and it can be used wherever there is a need for storage space and eliminates the need for trust. One of the blockchains that has recently been introduced as gold to maintain the value of assets and is very useful is the gold blockchain, which is evaluated as a gold-based stable coin, which is introduced below.

Gold Stable Coin

As mentioned above, holding and trading gold has its own problems. include problems with security, taxes, and the like. In this case, the two solutions remain: using a third party to do so or using modern technologies such as gold blockchain. The gold-based blockchain is what the Digital Gold project does, but it also offers many benefits to users. By using the GOLD tokens to buy digital gold, customers do not risk blocking their accounts. This is often the case for brokers because of their difficult circumstances, including restrictions on country availability, trade restrictions, or aggressive requests for personal information. on the other hand, allow users to trade as much as they want without having to reveal their identities. By using the gold blockchain, we will see the security of gold transfers as well as the anonymity of individuals, which in turn will reduce the legal restrictions on the gold trade. The cost of services in this technology is very, very low so that you can transfer, for example, $ 100 million of your gold assets at a very low fee of one to three dollars.

Using digital gold, customers buy the cover in real gold, which is stored in safe rooms by the company. All physical gold corresponding to these tokens is insured, so the risks are minimal. The insurance contract is currently offered by one of the largest insurance insurers in the world, Chubb Insurance Company. Insured gold is stored in Singapore, which is a very convenient place thanks to its strong property rights. This technology will use ETH-based blockchain, which is very secure, fast and always available. Therefore, using this project and virtual assets, you can store as much gold as you want or turn your assets into gold without worrying about legal aspects and security restrictions. The road map of this project is below