What does the Future Hold for the Digital Gold Project?
Gold is a highly valuable, scarce, outer space metal. Scientists believe that gold arrived on earth in meteorites almost 4 billion years ago. Gold was found in caves dating back to the Paleolithic age of 40,000 years ago. This is believed to be the first time humans came in contact with this material.
It is considered the most beautiful type of metal due to its bright yellow color, which makes its usage popular in the manufacturing of jewelry. It is a popular investment asset among investors and traders alike. It has its use cases in technology, especially with smartphones, and computer components such as memory chips. Gold is also widely used in the dentistry industry in fillings, crowns, and other appliances.
Gold has many use cases because it is an excellent conductor of electricity, it doesn't corrode or rust.
Some experts estimate that there are only 50 tons of gold left. Buried somewhere on our planet. There is no shortage of gold yet, but geologists and miners are having problems discovering where it is.
We also don't have the necessary mining equipment to dig deeper into the inner core of our planet. All the gold that has been discovered and mined so far was found on the upper layers, a few kilometers deep into the core, at most. The deepest gold mine in the world is located in South Africa and is around 4 kilometers below ground. We can't even begin to imagine how big the gold reserves are deeper inside the core of the earth.
Over 70% of the earth's surface is covered with water. Currently, we don't possess the technology to mine our oceans, but technology is advancing and there is a huge area waiting to be explored.
It can take between 10 and 20 years to examine and discover a potential gold mine and there are no guarantees that the site will have enough gold to justify investments. It is estimated that less than 10% of all discovered gold mines contain the necessary amounts of gold.
Gold is an alien guest on our planet. We were fortunate enough to receive some, billions of years ago, and that ancient supply is everything we have. Most of the gold that was mined is now in the form of jewelry - around 50%. Another pile is in investments in the physical state of gold, bars, and coins. The smallest element is used in different industries and technology.
What does the future hold for gold?
Experts predict that 2020 will be a volatile year for the financial market. There is an ongoing trade war between the US and China. The Brexit is currently set for 31 January 2020. Political uncertainty usually reflects negatively on the market. This means that more money is likely to be invested in the world's oldest safe-haven, gold.
We are not that far from a new world crisis. The relationship between the US and Iran doesn't look good and such events result in bigger investors focus on gold.
It is becoming more and more difficult to find new gold mines. With current mining rates, there is a fear that we could run out of gold in the next 20 years.
If we consider the scarcity of gold and the difficulty in extraction, many believe that gold will become even more expensive in the future. A growing demand, and a limited supply, will cause the value of gold to increase over time.
What can we do about it?
One thing we can do is to invest in gold before the prices explode.
Digital Gold (https://gold.storage/en/home) is a blockchain-based project that enables anyone an easy investment opportunity in gold. Via its native GOLD token, users purchase coverage in physical gold. Each GOLD Token is worth 1 gram of 99.99% fine gold. This gold is physically stored in company vaults.
BullionStar is a vault storage service provider that keeps live audit reports. The total amount of stored gold by the Digital Gold project can be verified any time on https://www.bullionstar.com/myaccount/audit.
As stated on the official website of Digital Gold, their BullionStar Account number is 17081. The Vault Certificate can be found here: https://gold.storage/vault.pdf
If you enter the Account Number '17081' on the Live Audit Report site, the results will show a total amount of 92 pieces of 100-gram gold bars. 9,200 grams of gold are currently stored in BullionStar vaults.
The GOLD token can be traded on several exchanges and the daily trading volume is usually between $2-3 million.
What makes Digital Gold so special?
The GOLD token is a stablecoin. it is pegged to the spot price of gold. Simply put, when the price of gold goes up, your investment increases. The cryptocurrency market is volatile and mostly follows the movements of Bitcoin. The GOLD token protects its users against market volatility.
Have you ever wanted to invest in gold but you couldn't for various reasons, such as complicated paperwork, high purchase requirements, and uncertainties in terms of storage? Digital Gold makes it possible for anyone to own gold thanks to blockchain technology and the GOLD token.
Read my article: Digital Gold - Trade Gold Without Limitations, to find out why Digital Gold (https://gold.storage/en/home) is the perfect solution for gold traders and investors.
Digitized gold doesn't require physical storage, and Digital Gold ensures that the value of your owned asset is the same as owning gold in its physical form, but without the risk of having your accounts blocked, geographical restrictions, filling out complicated paperwork and being subjected to trading limitations.
Have a look at the table below that demonstrates the main differences between the GOLD token and some of the most popular stablecoins known today.
The GOLD token is an ERC-20 token and it can be safely stored in Ethereum wallets supporting the ERC-20 standard, such as MyEtherWallet, MetaMask, Ledger, and Trezor.
If privacy is your #1 priority, the Digital Gold Marketplace allows you to buy and sell gold 24/7 without submitting any personal information. Trade as much as you want, whenever you want.
For more information on how to buy and sell gold on the Digital Gold Marketplace please take a look at this article titled: How To Trade Gold On the Digital Gold Marketplace.
Website: https://gold.storage/en/home
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2437930
Resources
https://www.businessinsider.com/why-gold-is-so-expensive-2019-10
https://www.westcoastplacer.com/how-much-gold-is-left-on-earth/
https://gold.storage/wp/White_paper_en.pdf
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To be honest, if I were to invest in gold... I would much prefer to have physical gold rather than the tokenised equivalent!
@bengy Physical gold carries with it different verification requirements and restrictions. Not to mention the need for safe storage. With Digital Gold all you need is to make sure that the private keys of your wallet are safe.
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