Digital Gold, a blockchain-based project has launched a new gold-backed stablecoin powered by the Ethereum smart contracts blockchain and the ERC-20 token standard.
Thanks to the immutability property of blockchain technology, a vast array of assets can now be tokenized.
The Digital Gold team has placed real gold on the blockchain, in a bid to make it more flexible and transferable.
The Gold stablecoin represents a link between genuine gold and a gold-backed digital asset.
The Digital Gold investment is open to both precious metals investors as well as crypto enthusiasts, as the asset is based on Swiss-audited highly secure Ethereum smart contracts. The Gold token functions as both a stablecoin and an investment vehicle for those interested in real gold, as it offers privacy, security and complete transparency.
The gold bullion is stored in secure vaults in Singapore and is auditable in real-time.
About Digital Gold
Just like real gold, Gold token presents investors with a fast, flexible and secure avenue to invest in gold.
The Gold stablecoin is neither alternative crypto nor a new blockchain, rather, they are digital versions of real gold stored in secure vaults owned by BullionStar, a highly reputed firm that provides infrastructure for the storage of precious metals.
In essence, the Gold stablecoin has the same level of price stability as real gold, just that it’s easier to buy, store transfer or hold than physical gold.
The total number of Gold tokens in existence will always be backed by the same number of physical gold in the BullionStar vault.
Gold token holders can verify the exact amount of gold in the vault by simply using the real-time audit feature.
Digital Gold offers investors unlimited liquidity, as any number of digitalized gold can be bought or sold on a 24/7 basis on the project’s official marketplace and on exchanges.
Importantly, Gold tokens can’t be frozen, as long as the gold is still present in a physical vault in a jurisdiction with strong ownership rights.
Also, there are no hidden fees, as the project offers free transaction fees on transfers and an annual storage fee of 0.99 percent or 0.0027 per day and the project plans to further reduce the fees in the near future.
The founders of the Gold token project believe the Gold stablecoin will gain significant traction soon, due to the fact that gold has really low volatility and the precious metal will keep growing in value forever, unlike fiat currencies.
Disclosure/Disclaimer: This article is paid for and produced by a third-party source and should not be viewed as an endorsement by ZyCrypto. Readers are urged to do their own research before investing or having anything to do with the company, goods and/or services mentioned in the above article.