Hi every one!
I will investigate in this (and future) post, the DIGITAL GOLD TOKEN for you. in this post I will describe the advantage of digital gold token for you and answering this question that why you will like this project. There are important points in reviewing this project that I would like to describe in several posts. Some of these points are very interesting and provide a good justification for buying and maintaining this token.
Describe a problem and provide a solution
As you know, one of the problems when buying gold is ensuring the safety of the gold purchased. This is a very key issue that can be addressed in two parts. The first part is to ensure the purity of the purchased gold and the second part is safety during transportation and storage. Therefore, we face two main problems in buying and keeping gold
. so we have 2 main problems listed below:
1- Purity of purchased gold
2- Security in purchase, transfer and holding
I will investigate these problems and the GOLD TOKEN solution for them. digital gold has other advantages too, that I will describe them in other post. so we will focus on Purity and Security in this article and other advantages will investigate in other posts next days.
1-Purity of purchased gold:
Examining the grade and purity of molten gold is a highly specialized task, and not everyone can calculate its equations or determine its correct grade; The number and ID are multiplied on the molten gold, but people cannot rely on it to buy the molten gold.
After the rise in the price of gold, the discussion of counterfeit molten gold has increased in the market. In these unauthorized workshops, various alloys are added to gold and fake identifiers are engraved on the product; If a person finds out that he has bought counterfeit melted gold, his follow-up will not be successful due to incorrect technical specifications.
Even with the inclusion of gold grade, it is sometimes observed that the grade of gold sold was not correct and fraud was committed in the grade. This is not about the present. This has been the case even throughout history. In such a way that even in the time of Archimedes, the gold standard was manipulated. At that time, a jeweler made a crown of gold for the king of Greece. The king was skeptical of the jeweler and thought that he had taken some of the gold he had taken from him to make the crown for himself, and instead mixed some silver with the gold and made the crown. So he asked Archimedes to investigate to see if his suspicions about the jeweler were true.
Archimedes was thinking of finding a way to find out how much gold and silver the jeweler used to make the crown without destroying the crown. He thought about this for a long time until one day in the bathroom he realized something important. He hurried home and began to experiment with the finding. He thought that objects of the same size could move the same amount of water, but if we look at it in terms of weight, a pound of gold is smaller than a silver bar of the same weight (gold weighs almost twice as much as silver). Move less water. In his experiment, he found that the royal crown repelled more water than its gold ingot, but that it was less water than the silver ingot that weighed.
So the important thing is that the purchased gold is guaranteed in terms of purity. This can rarely be realized when buying physical gold. But what is the solution? digital gold solve this problem for you.
what is the Digital gold solution for Purity of purchased gold?
1 token = 1 gram of gold 99.99 purity
All GOLD tokens are backed by physical gold stored in a secure vault. The gold stored is audited in real-time and can be verified online.
Every GOLD token is issued using Ethereum smart contract and the amount of tokens in circulation always equals the total amount of gold bullion held in vault.
2- Security in purchase, transfer and holding
As you know, security in the transfer of gold is very important for sale. On the other hand, keeping gold also has its challenges. None of you likes to have your property endangered when you travel. So what do you do? Naturally, there are no other two options: buying safe deposit boxes or renting safe deposit boxes. Buying a safe deposit box is not worth the hassle. Because a box that is very safe will be very expensive, even more expensive than the gold purchased. Naturally, many people are forced to rent safe deposit boxes, which are usually located in banks. Well, that's a good idea, but maintenance costs are not something many people would want to pay for.
what is the Digital gold solution for security of purchased gold?
digital gold 100% backed by physical gold. Amount of physical gold stored can
be matched against the total number of tokens real-time. All transfers
are irreversible and there is no way to block or limit your account due
to decentralized structure of blockchain technology. it means that, when digital gold use ETH network, you will not have any concern about the the security in trade stage or in holding. because IT is very trustable network and also very safe.
The managers of this token have provided safe rooms where all the purchased gold is kept. This means that you do not have to pay anything to ensure the safety of the purchased gold.
Conclusion
Digital Gold Token has many advantages. Among the many advantages of this token, in this article we have examined two very important advantages of digital gold token and we will examine the other benefits of this token in other articles. As mentioned, security is a very important category in gold storage. Which has different dimensions. One of the most important aspects of security is the purity of purchased gold, and another important area of security is the maintenance of purchased gold. Examination of this token shows that due to the use of the ETH network, the tokens have a very good security for storage as well as transmission and sale. It has also been shown that safe rooms designed to store the gold of these tokens will eliminate the need to pay for security.
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