DIGITAL GOLD: BRINGING A CHANGE TO THE PHYSICAL GOLD ECOSYSTEM

emmy92 (42)in #gold • 5 years ago

I came across a question in one telegram group; how far do you see blockchain technology going? And I replied, as far as could possibly be reached, in fact, it holds a vital position in the future. The reason for my answer is owing to the possibilities we have seen within the blockchain and as such blockchain platforms wherein we see funds being sent on a peer-to-peer system without any Intermediary, wherein we control our data and host of others. Now taking a look at this, it is evident that humans really need blockchain because the current system of transactions is plagued with third-parties or Intermediaries thus leading to unfriendly charges. On the other hand, most of our transaction data or personal information aren't also protected from prying eyes; the truth is, there is more to blockchain than can ever be imagined.

In the same way, owing to the possibilities seen within blockchain led to the creation of many platforms, sectors or systems which in each case can be Implemented on an already developed system or being created as a whole new platform. With this in mind, a team of experts believes that since blockchain offers many possibilities, that means it is possible to channel blockchain features to the gold industry, thus the advent of Digital Gold Platform. Digital Gold is an already developed and functioning platform while constant improvement is carried out to ensure users are satisfied.

ABOUT DIGITAL GOLD

In the blockchain space, many projects have been created, while many are standing and a greater number going down the drain every day; from this, it showed a distinct fact and that is, it takes a good team to maintain and keep their platform or project working while surviving all ups and downs.
Digital Gold is one of such platforms created by high-class developers who believes there are many benefits humanity can gain by leveraging its platform to participate in gold-related activities which of course is further enhanced with the aid of blockchain.

Blockchain is a trending technology in this current era, while gold has proven over time to be a great store of value, thus with Digital Gold being a blockchain platform is built to encourage and motivate the process of digitalization of the current financial market as well as all that pertains it with respect to gold. Thus in a bid to achieve this, Digital Gold leverages the prominent Ethereum blockchain while making it possible for users to buy physical gold through using the platform's GOLD token which happens to be an ERC 20 standard token.

In the same way, with Digital Gold taking this step to bring gold and blockchain together, proves the fact that blockchain technology is really the future whether in the financial systems or otherwise.

Furthermore, in every blockchain platform, there is a reason for a certain project to leverage blockchain; that is, there are projects which utilizes blockchain so as to build a better gaming industry, thereby in the case of Digital Gold, it leverages blockchain it build a platform where the following features will be made possible;
a. Fast and low-cost transactions made possible via the Ethereum blockchain,
b. Immutability and no iota of manipulation for all confirmed transactions,
c. An overall network security and protection from cyber attacks or data breaches,
d. An efficient smart contract functionality as well as overall market transparency,
e. Efficient support for all ERC-20 wallets as well as support for trading the GOLD token on various exchanges.

ATTRIBUTES OF DIGITAL GOLD

Digital Gold platform being developed can be used by customers or users to buy GOLD token as fast as possible where each coin bought is equated to 1 gram of 99.99% FINE gold which is already stored within the company or platform.
By using the GOLD token, users will be able to avoid all unnecessary restrictions or procedures while using the GOLD token also as a store of value wherein it also acts as a stable coin thus being away from the volatility of the crypto space.

Furthermore, with the GOLD token being stable, users can also benefit from the long-term price uptrends of gold. In addition, Digital Gold assures users of constant liquidity and independent live audit to ensure the number of tokens in circulation and number in the company's vault is put on check.

CONCLUSION

Blockchain has made many innovations possible thus with Digital Gold being based on blockchain as well as having its token known as GOLD token, gold, on the other hand, will be seen as more than wealth storage while also acting as a payment method for various transactions.

Like earlier stated, Digital Gold is based on Ethereum blockchain, thus with Ethereum being open source, leads to a high degree of trust within the Digital Gold platform as tokens can't be controlled by any centralized party.

Furthermore, the Digital Gold platform is already developed wherein it is fully self-funded, thus setting the team apart from others.