DIGITAL GOLD: A SOLUTION TO PHYSICAL GOLD MAJOR DISADVANTAGE.
INTRODUCTION
For the benefits of those reading about blockchain project for the first time, it will be a pleasure to explore the operations of blockchain technology together. Since the inception of blockchain technology, there has been advancement in the operation of business, economy etc. Adoption of blockchain technology had eased the stress of both government and private sectors.
BLOCKCHAIN
The blockchain is a simple way of passing information from one point to another point in a fully automated and safe manner. in other words, we can say a blockchain is a database that is shared across a network of computers.
Ø The block: A bundle of records
Ø The Chain: All the blocks connected together
BLOCKCHAIN OPERATIONS SIMPLIFIED
1. The first step is to have trade recorded. Suppose A is offering to sell some coins worth some dollars to B, the details of the transaction is recorded.
2. The second step is to have the record checked by the network. The nodes(The computers in the network) checks the validity of the details of the trade.
3. Accepted records by the network are added to a block. There is a unique code contained in each block called 'hash'.
4. The block in the third step is added to the blockchain while the hash codes contained in each block connect the blocks together.
PHYSICAL GOLD ADVANTAGES
1. Hedge against inflation: Gold has proved to be the way out against inflation. It has yielded positive outcomes in so many negatives event. In a case of a monetary downturn and market unpredictability, It fills in as the best support against inflation.
2. Highly liquid asset
3. Simplicity: It is indestructible, relatively scarce.
4. Low volatility: There is a limited supply of gold in the world, which lead to an exponential price rises when demand increases
PHYSICAL GOLD DISADVANTAGES
The main reasons investors may choose not to invest in physical gold are that there are trading and storing costs involved. Not everyone can afford to invest in physical gold because a large amount of it can incur storage fees. This is a major disadvantage to so many that would have love to invest in gold.
DIGITAL GOLD
Digital gold platform is presenting everyone with a platform where investment can be made in gold in the form of a token, so everyone can become an owner of gold based on blockchain. In another words, we don’t need to have a storage or hold physical gold to make transactions with gold. With a click, you are transacting with gold thanks to digital gold platform.
We can acquire grams of Gold with GOLD Token through Digital Gold platform. The Gold is stored in the vault.
WHY DO I INVEST IN DIGITAL GOLD TOKEN?
Investing in Digital Gold will help to maximize the benefits of physical Gold investments and also eliminate the major disadvantage of physical Gold investment.
CONCLUSION
There is no better way to enjoy the benefits of physical Gold investment without having to deal with the major disadvantage than investing in Digital Gold.
MORE DETAILS
Website: https://gold.storage/en/home
Telegram: https://t.me/digitalgoldcoin
Twitter: https://twitter.com/gold_erc20
Reddit: https://www.reddit.com/r/golderc20
ANN: https://bitcointalk.org/index.php?topic=5161544
Author: mealea
Bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=2577643;sa=summary