Next Phase of the Cryptocurrency Revolution: Gold 2.0
Since the emergence of Bitcoin in early 2009, during the Saturn-Uranus opposition, there has been an ongoing debate between those who believe that Bitcoin is the future world reserve currency and those who think gold is the only alternative to fiat currencies.
In the Spring of 2017, during the Saturn-Uranus trine, the price of Bitcoin reached parity with gold (by the ounce) which grabbed the attention of investors around the world. Since the emergence of crypto-mania, there has been a surge in interest by investors in the concept of gold-backed cryptocurrencies.
The concept of a gold-backed currency where a token is issued that represents a specific value of physical gold (for example 1 gram of gold equals 1 coin) that is stored by a third party custodian. The gold is directly linked to the token via a smart contract using the Ethereum Blockchain protocol creating a cryptocurrency that has a stable and intrinsic value, along with the speed, portability, and transactional transparency on the public ledger.
The key difference between gold-backed cryptocurrencies and Bitcoin along with all other alt-coins is the entry-level cost. While most cryptocurrencies can be initially be bought for pennies, gold-backed cryptocurrencies launch at whatever the spot price of gold is.
Another major difference is unlike other cryptocurrencies, the price of gold-backed digital coins will never fall below the current gold price. So if the gold-backed cryptocurrency does not become popular, the value of it would remain as the value of a gram of gold. However, if the gold-backed cryptocurrency becomes popular, its price will become greater than the value of gold.
Prediction: In the Spring of 2018, there will be a proverbial (and literal) gold rush in the crypto world, with the creation and issue gold-based cryptocurrency, which will be the NEXT PHASE of the CryptoCurrency Revolution.
Below is a list is all the gold-backed cryptocurrencies that have become available for public exchange on the open market:
AurumCoin(AU) launched on September 25, 2014. It is a distributed cryptocurrency currency that enables instant payments to anyone, anywhere in the world. Aurumcoin uses peer-to-peer technology to operate with no central authority. Managing transactions and issuing money are carried out collectively by the network. Aurumcoin coin type properties are based on the Bitcoin (SHA256) blockchain, with a maximum of 300,000 coins that can be mined. Each AurumCoin is backed with 0.75 grams of gold, yet AurumCoin’s par value will always be worth 1 gram of pure gold. When you buy an AurumCoin you buy a digital proof for 1 gram of gold stored and insured in professional high-security gold vaults in Zurich, London, New York, Toronto, Singapore, and Hong Kong.
DigixGlobal has created two types of Ethereum tokens – each with unique properties. DGX Digix Gold Token represents 1 gram of 99.99% LMBA standard gold, secured in Safehouse vaults. Digix DAO Tokens (DGD) is used to claim quarterly rewards based on the total DGX collected through transaction fees. The DGD value fluctuates based on exchange rates and market forces.
GoldMint runs on Ethereum blockchain based platform which operates with 100% gold-backed crypto assets, either gold or exchange-traded funds (ETF). The GoldMint platform is built on a private blockchain, based on the Graphene technology. However, there is no mention of where the gold is stored, or indeed what percentage is physical gold.
HelloGold (HGT) is a mobile application that allows you to buy and sell gold on a single platform and has its own blockchain since October 12, 2017. HelloGold users can buy and store gold which can be converted to a Gold Backed Token (Goldx), which is backed by 1 gram of gold. The gold is held and accounted for in a partnering vault in Singapore, and it is certified as compliant with the Shari’ah Standard on by the World Gold Council.
Xaurum (XAUR) has had its own blockchain since April 21, 2015 and is the only digital asset with a continuously growing gold base to date. Xaurum is coined by exchanging the mined value for physical gold, stored as the CommonWealth gold reserves. It was first coined on a PoS Blackcoin blockchain and has transitioned to Ethereum.
Below is a current list of Pre-ICO (or ICO Pre Sale) gold-backed cryptocurrencies:
Name: GoldCrypto (AUX)
GoldCrypto (AUX) Pre-ICO is on until April 15, 2018.
Name: XGold Coin (XGC)
Location: Panama City, Panama
PRE-ICO First Round is on until 10 February 2018 and is offering a Pre-ICO 35% bonus.
Name: KaratBank (KBC)
Pre-ICO runs to March 15, 2018.
Name: BaselBit (BB3)
Location: Zug, Switzerland
Pre-ICO runs from February 7, 2018 to December 31, 2018.
Name: AurusGold (AWG)
Location: North Brabant, The Netherlands
Pre-ICO begins in February 2018.
Name: GoldMineCoin (GMC)
Location: Magadan Region of the Russian Federation
Pre-ICO begins February 21, 2018.
Name: PureGold (PGT and PGG)
The ICO for Puregold runs from 15 January 2018 to 14 March 2018.
Name: Reales (RLS)
Location: Tallinn, Estonia
Reales ICO ends 8 March 2018.
Name: Darico (DRC)
Location: Zug, Switzerland
The Darico ICO ends on July 30, 2018.
Name: Gold Bits Coin (GBeez)
Gold Bits Coin ICO is on through to March 2018.
Name: Flashmoni (OZT)
Location: London, UK
The Flashmoni ICO begins on 11 February 2018.
Name: GramGold (GGT)
Location: United Kingdom
The GramGold ICO is on until April 30, 2018.
Name: Sudan Gold Coin (SGC)
Location: Dubai, U.A.E.
The ICO begins on Feb 28th, at 12pm CET.
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