Saturday, March 10, 2018

Pure Gold. IO: When Gold Meets the Blockchain



                          

        Gold is the most treasured precious metal available to us. Gold has been used as a currency since as early as 800 B.C. when it was first used as coins. Gold is the best store of value because there is a set amount of it, and as more of it is mined the supply goes down. Traditional fiat currencies do not hold the same value as gold because more can be created by the native governments that control them. Fiat currencies use to maintain the gold standard and be backed by gold, governments did this so their native currencies could hold the same value as gold and continue to rise in price in the same manner that gold does. Although, in 1971, the United States did away with its gold standard, so the US dollar is no longer backed by gold.

The value of gold will continue to increase as the supply goes down and the demand goes up, which will cause a continuous increase in the price of gold. Gold is one of the most stable investments we can make. Puregold.io plans to bring the purchase of gold to the blockchain. Puregold.sg was established in 2010 and is one of the premier mints located in Singapore. Puregold.sg sells value-added gold bars and jewelry. Puregold.sg also manages www.bullioncurrencies.com, and online platform that allows buyers to purchase items directly from business owners with their gold. This saves a lot of time and money because the owners of the gold do not have to sell their gold and lose percentages of its value to other third parties. This allows the gold owners and well as the business selling items to make more money and have more gold.

In 2008 there was a sub-prime lending crisis that started in the United States, and quickly led to a global economic crisis in which thousands of people went bankrupt and lost their homes. This recession was started because of greedy businessmen advising people to make poor investment decisions in real estate. The global economic crises caused tons of people to lose faith in their governments and banks. At this time, Satoshi Nakamoto created Bitcoin, a peer to peer electronic cash system that runs on the blockchain. The blockchain is a decentralized public ledger that keeps a journal of all the purchases and trades that happen through its system. It is no wonder that in the past twenty years digital currencies have become more widely adopted, used and trusted and will soon take the place of most banks.

Puregold.io will use their experience in the gold industry to decentralized the purchase of gold. Puregold.io will give anyone the ability to own gold right on their computer! The public ledger will show all of the gold that Puregold is storing and keep track of all the purchases that are made on the blockchain. This will create transparency in the purchase of gold. Puregold.io will issue PGG tokens in exchange for everyone one gram of gold they hold. The puregold.io platform will run on PGT tokens, which will be used for making purchases and payments. PGT tokens will allow us to make quick and efficient purchases using the Ethereum blockchain.

Sponsored by Cryptoprofile.com

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