Where To Buy Digital Gold
While many people associate digital gold with Bitcoins, cryptocurrency bears no resemblance to fiat currency.
Bitcoin is typically regarded as the first digital gold, but digital gold can be traded on any blockchain platform, such as Ethereum, Ripple, Swift, and many others. Gold is literally a monetary asset, just like cash, and digital gold allows buyers and sellers to exchange gold for other digital assets.
However, a large portion of digital gold users tends to be far from Bitcoin holders. According to eMarketer, digital gold purchases are more likely to be local and target the health and wellness markets in the United States (e.g., Xanax, erectile dysfunction products, medication for arthritis, and more), whereas Bitcoin tends to target more mainstream markets such as artwork, fine arts, fashion, performance art, celebrity memorabilia, and many other items.
So what is digital gold and how can users exchange it?
This simple process is the same in any digital currency or crypto-asset platform. One simply pays the digital asset, which is processed and later converted into cash. Token or token-based platforms offer a secure and decentralized way for users to trade digital assets, while decentralized exchanges offer a secure and decentralized way for users to trade digital assets. Users can exchange physical goods like gold, and invest in cryptocurrencies.
Bitcoin has revolutionized the world by supporting virtual currencies worldwide, so should digital gold make an impact?
Merging these two industries will allow people who will have access to virtual currencies and virtual assets for the first time to trade with the power of fiat currency as well as the power of a digital currency. Users will be able to buy goods and services, and should not have to give up physical properties to get access to a digital asset.
Technology has been used to create digital assets, and it will be implemented more frequently in industries like the travel industry. The rise of the smart contract in travel and financial services, it will allow trust and data processing on digital assets.
A smart contract utilizes AI and machine learning for machine learning, robotics, artificial intelligence, and social engineering as they leverage blockchain technology to provide unprecedented access and connectivity between businesses and their customers.
Just like the travel industry, sports teams will be able to use digital currencies to play real money games at stadiums. Because blockchain is decentralized and protected, gamers will be able to transfer money between other players for sports tournaments using Blockchain Proof of Stake (or PoS) payment systems (such as Jamestown Dash, Bits ofCoin, and TokenChain).
Archon, Jamestown Dash, and TokenChain have partnered to offer a blockchain-based payment system that will allow players to buy and sell sports tickets in real money, and will eventually connect cryptocurrencies and conventional currencies.
This blockchain-based payments system will accelerate the payment process for professional sports in general, and blockchain-based smart contracts are sure to provide better protection from fraud. And with more integration of such tech, the blockchain space is sure to expand rapidly.
Technology offers many advantages for digital asset markets, including lower cost and faster tracking compared to other transactions, but this will be a bit of a different story for digital assets. Just as a blockchain has a use case to store data, it can store a lot of data in both physical and digital forms.
Today, blockchain projects can create some very cool technology that allows decentralized applications to accelerate real-world innovation. But as with any new technology, these transactions take time and cannot always be processed in real-time, making it difficult to stay updated and keep up with industry trends.
Although there are some improvements, the challenge with blockchain is there that once they start running, they start running (cryptomarkets).
Blockchain projects have been working diligently to build more attractive client experiences and allowing everything to be done in real-time. With more prominent projects starting to develop, blockchain technologies will be used to help eliminate several barriers to entry, make payments as frictionless as possible, and help businesses and consumers easily get updates and views from decentralized apps.
As these technologies become mainstream, blockchain is really no longer a supplement to traditional technologies, but it is enabling new models for the digital asset and crypto-asset markets.
Patella Picshetreechum is a technology strategist and is a writer for Medium. She often explores themes of artificial intelligence and machine learning, blockchain, and the impact of technology on society. She works primarily with highly prominent startups building strategic, tech-centric solutions.