Digital Gold - The digitization Gold Using Blockchain Technology

The mineral Gold is one of the most valuable mineral resources to ever be known. It uses has been since the ancient time, its use as a measurement of wealth also a valuable item in ornament construction and the creation of ancient scrolls or spiritual text document. But since the ancient time, the actual value of gold over the years has grown massively to do with the challenges associated with purchasing, accessing and as well as storing it safely.

The richest man to ever live which is Mansa Musa, who was the ruler of Mali in the year 1312-1337 wealth was a result of his massive gold asset. The valuation of his wealth in today’s time is said to be about 400 billion US dollars. My grandma who has been around for a while also told me their parents in the olden days use to store their wealth by acquiring an amount of gold which their fathers hide or store for the future generation or for the family to use in times of difficulty. To this generation is the same as investing in gold.

One will ask what gold has got to do with the crypto market or blockchain in general. Its relative stability in price can serve the market of cryptocurrency which is highly susceptible to high volatility in terms of price.
To me purchasing gold today is the same as investing in it. And aside gold being actively tradable, in the forex market it also serves as the storage of wealth. Which is easily seen when there is an appreciation in value and any case when the strength of the quote currency (the US dollars) weakens.

Think of becoming the Mansa Musa of this digital era by benefitting from long term appreciation of golds value in this particular digital era. Or think about protecting the fund you have invested in the market of cryptocurrency from all the potential negative market conditions including depreciation. Or become the pioneer of the future physical in cold by purchasing gold today.

With DIGITAL GOLD owning their digital gold token means it is backed by the physical gold, therefore there is no need to go through the ill complications involve in holding a bar of physical gold. In the majority of countries across the globe excluding China and Saudi Arabia, it is very unlikely to withdraw at the ATM in gold. Thus, in making a purchase, solving or settling all fundamental responsibilities. This to some extent makes gold difficult and inappropriate in our day to day usage and expenses even though it is a great store of wealth or value.

By tokenizing the gold and creating an Ethereum based token that is a complaint with the ERC20 protocol, which is by employing blockchain technology is brought to you by DIGITAL GOLD. The token of DIGITAL GOLD is called ‘GOLD’. GOLD provides liquidity for all physical gold which of high purity (thus fine gold of 99.9%). To verify that the tokenized gold is stored safely in the company’s vault and to ensure the transparency, the company has entered into a partnership with Bullion star which audit the vault. An equal amount of physical gold is stored in the company’s vault when any amount or gram of gold is tokenized and this can be verified at any time. There are accountability, transparency and no alteration in any transaction detail, this is because every purchase of the token is safely and securely controlled by a smart contract. And when it comes to the issue of blockchain all this is securely stored on a decentralized platform or infrastructure.

THE DIGITAL GOLD TOKEN AND ITS TRANSLATION INTO REAL GOLD

GOLD which is the token of DIGITAL GOLD is equal to one gram of fine gold (99%) which makes it price equal to the same price of the fine or pure gold. Because gold is actively and widely traded across many markets, its price is fairly and relatively stable.

With GOLD, there are numerous and great advantages for the crypto market itself, investors and other markets as well. Some of these advantages provided include securing ownership of the physical gold when one buys the digital gold token, bringing protection against price fluctuations on the crypto market, liquidity for all safely stored assets, offering a digital market place and a free transfer system for gold.