Thursday, 2 August 2018

Blockchain to Allow Gold Trading for Virtual Currencies.

Gold from ancient times is considered as the important asset and money since ever. Soon users will be able to trade in gold as a HongKong based company is working on creating a digital environment where gold can be traded as a virtual currency. Not only gold but the company’s goal is to introduce tangible assists like platinum, diamond, gold, White gold etc. in the trading world.

This new platform is known as Digital Gold Exchange which will allow quick and safe trading without any intermediate interruption. This system will be based on blockchain like cryptocurrencies and any user, company or trader will be able to trade from wherever they are in the world. The system will be totally secure, well designed and easy to use for all age groups.


Elements of DGE

There are three elements of Digital Gold Exchange which together makes this ecosystem. The first element is known as “The Midas Touch Gold” (TMTG). This token will not be the primary asset but will be used to buy other currencies on the platform. TMTG will be used on this platform for internal transactions for real gold as well as decentralized gold. Another element of this ecosystem will be MDG. Traders can buy/sell/exchange MDG using TMTG and can be traded on this platform only. The platform including TMTG and MDG is known as Digital Gold Exchange and it allows trading of real gold at any time.

DGE is developed by a Hongkong based company and was is testing phase in May and June. The company has tested presales of these token between July 10-25. The developers wish to expand this platform globally through international business partnerships. The cryptocurrency TMTG is already listed in the IDCM platform which is one of the Hongkong exchange platforms. The company aims to expand the listing on number or coin exchange platforms and the next platform will be CoinSuper Exchange. It is expected that after gold diamond will also be listed soon in 2019. 

The users holding these coins can get real gold from the branch registered exchange. This project has already established some of the partnership like the one with Korea Gold Exchange which is one of the largest gold merchants.

The news seems to be very positive and it can take the value of Gold to another level. This can increase the liquidity in the market. This is exactly a real currency in the virtual world with real values.