6 December, 2017 – Tether Gold (GLDT), a type of digital token that is backed up by Psychical Gold and is distinguished and well known to provide both individuals and organization with a robust and decentralized method of exchanging value while using familiar accounting unit.
It is a currency built on top of the Bitcoin blockchain and each tether is backed 1-to-1 by Gold Bullion held in Tether Gold’s Limited’s reserves. The innovation of block chains is an auditable and cryptographically secured global ledger.
“In a bid to maintain accountability and to ensure stability in exchange price, we proposed a method of maintaining a 1-1 reserve ratio between a cryptocurrency token known as tethers and its associated real world asset, fiat currency. This method uses the Bitcoin blockchain, proof of reserves and other audit methods to prove that issued tokens are fully backed and reserved at all times” said Bennie Van Reinsburg of Tether Gold.
All things been equal, 1 GLD₮ is always equivalent to 1 Oz .999 Au Gold. Tether Gold allows one receive GLD₮ from a Bitcoin blockchain address and treat them as a GOLD equivalent deposit. In the same vein, one can withdraw funds to a Bitcoin blockchain address as GLD₮.
Assetbacked token issuers and other market participants can take the best advantage of the blockchain technology along with embedded consensus systems to transact in familiar, less volatile currencies and assets.
During their initial coin offering phase, contributors will finance the first GLDT tokens that will be distributed to exchanges for trading. Fees will be generated through the use of these GLDT tokens. These fees will be distributed as dividends to all ICO participants.
Why not Gold…The best place to rest your trades. For more detailed information about Tether Gold please visit https://tethergold.com