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Three Reasons why DigitalTangible’s Peer-to-Peer Gold Marketplace enables valuable commodities investing opportunities
We launched DigitalTangible to explore the immense opportunities that exist linking hard assets to the Bitcoin Blockchain. Our business philosophy is anchored in the view that the utility of Blockchains, as decentralized and distributed ledgers, can allow us to track assets in ways that were previously extremely difficult or impossible. On July 23rd, We launched the first Gold catalog linking both gold bullion and gold coins to the Bitcoin Blockchain. Our progress and value to our customers are transparently available in our Proof of Custody and Leaderboards.
However, we also believe that we are not simply delivering innovation in a vacuum, but that we are aiming to deliver new business value to the Bitcoin ecosystem that will enable further growth opportunities for Bitcoin usage. It is our view that the Bitcoin protocol and other Blockchain technologies will absolutely supplant traditional and centralized methods of asset tracking in the coming years.
Building on our initial momentum, today we launch our Peer-to-Peer Digital Gold trading marketplace as well as our live Priced-in-Bitcoins market data utility. In studying the value propositions to our customers over the past month, we’d like to highlight three main reasons why we think the Bitcoin Blockchain enables new commodity investing and trading opportunities previously unavailable to the regular gold investor.
Reason #1: Fastest settlement and delivery possible with digital gold
Today, when individuals wish to trade precious metals such as gold, there is absolutely no lack of marketplaces and trading opportunities. Simply search eBay’s Bullion Category and you’ll find over 72,000 listings at auction or for immediate purchase. However, when it comes to settlement, marketplaces like eBay require payment mainly via credit card. eBay can and probably will implement Bitcoin payments as an option for customers. However, at DigitalTangible we aimed to go further to make digital distribution of physical precious metals possible. Leveraging our implementation of Bitcoin 2.0 protocols, customers can both pay and receive their gold in the same transaction. When a customer pays with Bitcoin, they receive Digital Gold Tokens that are linked to physical gold tracked on the Bitcoin Blockchain. Allowing our customers to trade their gold tokens on our catalog means that customers can purchase gold and then sell immediately and easily for Bitcoin without even thinking about physical fulfillment.
Reason #2: Global physical fulfilment in just minutes
At DigitalTangible, we continue to add a number of custodians and precious metals dealers who understand Bitcoin and our Bitcoin2.0 digital tokens. Imagine buying a gold token representing a one ounce PampSuisse bar in New York and then picking up your physical gold bar at a Bullion dealer on Singapore’s New Bridge Road that same day. Digital Transmission of gold before Bitcoin lives in the world of large gold dealers as well as futures markets. However, with the Bitcoin Protocol and Bitcoin2.0 functionality, we can now easily and affordably transmit gold ownership rights anywhere in the world. With physical gold linked to the Blockchain, we are also able to manage a global supply of physical gold assets distributed across a network of partners. Our customers can not only trade gold, but they can also receive their gold anywhere we have a gold dealer partner available.
Reason #3: Extremely Low Transaction Costs
Decentralized Blockchains like Bitcoin allow us to lower the transaction costs for digital transmission of physical assets. Thus, we are able to provide new functionality and services to the broader consumer market that was previously only available to high-end wealth investors or investment managers. It’s our view at DigitalTangible that we’ll only be a disruptive gold trading alternative for customers if both our costs are much lower and our value proposition much greater than the currently available gold trading alternatives.
We at DigitalTangible are grateful to the Bitcoin Community, Counterparty Community, Mastercoin Community, ColoredCoins Community and our trusted gold dealers and gold custodians who have helped us add this immense new value to the most important group of all: Our gold customers who entrust us with their physical and digital gold purchases. We look forward to bringing more decentralized value to the commodities markets in the near future.
