Since the advent of bitcoin in 2009, cryptocurrencies have been always criticized for not having a physical backing. Also, the lack of a central authority controlling issuance and supply has rendered the value of cryptocurrencies questionable by financial experts. Add to all of this the high volatility levels of cryptos which is one of the main obstacles hindering mass adoption of cryptocurrencies.
To mitigate these challenges, the concept of gold-backed cryptocurrency has emerged. These currencies operate in a similar fashion to traditional cryptocurrencies, except that they are backed by tangible gold, via allocated or unallocated gold storage. Stablecoins are a form of asset backed cryptocurrency which was developed to address crypto’s extreme price swings. A stablecoin is a cryptocurrency whose value is “pegged” to assets with stable value including fiat currencies (e.g. USD, EUR, etc) and precious metals. Gold-backed cryptocurrencies are special forms of stablecoins, the value of which are pegged to that of gold. Combining the innovative capabilities of the blockchain technology with gold offers a convenient solution to the highly volatile cryptocurrency market.
The list of gold-backed cryptocurrency has been growing steadily. One of such currencies is Troy Gold Token. With the tagline, "Fort Knox In Your Pocket," Troy Gold is combining the best attributes of gold and its vault, as of Fort Knox. Simply stated the TROY token is delivering a gold backed currency to the market, and creating secure digital vault.
Troy Gold aims to resolve the questions regarding cryptocurrency not having ‘intrinsic value’ by linking its value to gold. Troy Gold will provide investment opportunity to its costumer by allowing them to exchange Troy Gold Token for gold product they purchased from Bullseye Mining Limited, Australia. While, the vault aims to secure Troy's Gold Token and other cryptocurrencies in highly security system.
This gold backed digital currency is set to create a new benchmark in the cryptocurrency industry as the best crypto to invest in. People who firmly believe in using gold as a measure of value can find real value with this gold backed digital currency. Moreover, Troy Gold also provides secure environment for investors who often express the opinion that cryptocurrencies are not regulated and that there is no safety net for them by incorporated the company in one of the world's leading authorities in crypto currency regulation, Malta. This is an ultimate model that offers a two-in-one benefit to investors. It is one of the best asset backed securities and asset backed investments that ever existed in the cryptocurrency platform.
In addition, Troy Gold vault is considered as the most secure cryptocurrency wallet ever existed. It provides 3 optional layers of biosecurity, customers can combine or use separately facial, retinal, thumb print or password as the access key to their Vaults. The private keys are stored only on costumer phone which means they cannot be accessed from any outside source or be stolen from cloud based storage. Connecting the Ethereum Blockchain, the Troy Vault will allowing costumers to send and receive any token or Ether quickly and easily.
As a novel digital gold currency, Troy Gold digitize their value to the Blockchain that facilitates gold commodification, thereby they lessen the volatility of cryptocurrency and enable small investors to participate in the gold mining sector with the Troy Token.
In conclusion, Troy Gold project aims to:
- Protect the costumer with gold-backed and regulated digital asset
- Decentralize the opportunity to invest in a multi-million dollar gold mining projects;
- Enable anyone to securely store and transfer value anytime, anywhere
Website: https://www.troy.gold/
Whitepaper: https://troy.gold/whitepaper.pdf
Facebook: http://www.facebook.com/troygoldtoken
Twitter: http://www.twitter.com/troygoldtoken
Telegram: http://t.me/troygoldtoken
Facebook: http://www.facebook.com/troygoldtoken
Twitter: http://www.twitter.com/troygoldtoken
Telegram: http://t.me/troygoldtoken
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Author's BitcoinTalk: https://bitcointalk.org/index.php?action=profile;u=2642364
ETH Address: 0x5Ab066BeE714a66ee2660943c724Ce573214C05B
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