January 4, 2020 by Clementine
While the global economy has long since left the gold, the technology Blockchain could very well give him back his role of yesteryear, that is to say, as a medium of exchange. Indeed, Turkey has succeeded in this challenge by developing a system for the transfer of the gold assets.
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Back to the gold stocks of the BIST
Christened BiGA Digital Gold, this system Blockchain Turkish has been created in order to issue, repay and transfer of digital gold.
Each token digital gold issued is equivalent to one gram of physical gold stored in the vaults of the stock exchange Borsa Istanbul (BIST).
In fact, this system is the result of the research efforts of the bank of clearing, settlement and conservation of Istanbul. And it would have already attracted the attention of a good number of Turkish banks, namely, lenders, public, Ziraat and Vakif, the private lender Guaranteed BBVA, as well as the private banks Albraka Turk and Kuveyt Turk.
Send and receive gold from all over the world
While the cost represents one of the largest disadvantages related to the use of gold as a currency exchange, the advent of technology Blockchain could truly change the game.
In fact, the combination of the Blockchain and conservation institutional gold allows you to transfer the precious metal safely.
Through its stable and high performance, the Blockchain certifies that any form of fraud, or issuance of fake chips gold will take place within the system.
BiGA Digital Gold will serve as a model for other entities in the use of technology Blockchain, to create other models to transfer any physical assets.
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Clementine
Passionate about the universe geek, Clementine finds the news more interesting and involved in their drafting.