Everyone can have their own “gold reserves”, HelloGold project tomorrow in ICOAGE open lock


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Reporter: pencil boxn
nnPeople’s desire for gold is not the gold itself, but the pursuit of freedom and interest – Ralph Waldo Emersonn
nnWhatever the reason, it is clear that the world’s demand for safe-haven assets is growing. And the process of the most important flow of funds, is to buy gold or to foreign currency as the representative of the digital currency. Currently on the Internet, has been more and more articles to discuss gold and digital currency which is more worthwhile to have. However, ordinary people really have the opportunity to buy gold as their own safe-haven funds? We will first come to discuss such a problem.n
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nGold as a hedging tooln
nAs Marx’s famous saying, “gold and silver is not natural money, money is gold and silver”, gold itself has a very limited intrinsic value. More precisely, it has some value, but not enough to make up for the price you and I pay for it. Yes, it is beautiful. People (especially women) tend to like it. Its nature is not eroded by time, has little reaction to all body chemicals, and is a very good electrical conductor. Therefore, it is used in the electronics industry, medical equipment, dental and other fields … … but in the final analysis, we pay the amount of gold per gram is much higher than the actual value of gold, assuming it is only used to make jewelry, teeth Fill and other things.n
nSo why is gold so now worth? Because most people around the world agree that it is a good hedging tool, for example as a currency. People have made gold as money in thousands of years ago. why? Mainly for two reasons:n
nn1) gold is very rare, which means that no one can easily increase the gold flown
n2) The nature and appearance of gold does not change over time.n
nnGold has been accepted as a hedging tool for a long time, but it is not always the case. Although gold had been mined in ancient times, it was not until 700 BC that we saw gold being the first record of the Lydia businessmen as money. But once they made this standard, the Persians and the Greeks quickly took the same approach. Then the Romans, the Chinese, until the whole Eurasian continent put gold (and some other precious metals) as currency in the country and between countries. This creates the third reason why gold has become the preferred hedge instrument: it is widely accepted around the world, and has a very long record.n
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nGold and currencyn
nHowever, gold is not the best currency. Storing, moving and getting a small amount of gold is very expensive. It is softer, so it is not suitable for everyday use. It is easy to be forged, ordinary people difficult to identify the authenticity. More importantly, its value volatility is not within the government’s control, hampering the state’s policies, making the government unable to start in the economic downturn, so that economic and social problems can not be resolved. The results, briefly, the government after years of research found that the legal currency can better achieve the usefulness of money and purpose.n
nThe legal currency is of course the currency we use today. It has great advantages. Although many people say that we will never return to the golden support of every dollar, but the legal currency only we in a complete national system can be strong. When people no longer trust the government or the state system … the market will return to the most original gold.n
nEven for the most stable countries. The figure below shows what happened for 100 years. The dollar is so, let alone talk about other currencies?n
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nsource: www.macrotrends.netn
nSo, “Why did you choose gold?” The answer is: “Because it protects your savings in times of recession!” Most people know.n
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nOrdinary people can choose gold hedge it?n
nHowever, little is known about the fact that the above knowledge has nothing to do with most of us, because so far only the top of the pyramid “1%” of high-income earners can buy gold at an affordable price. The problem is that gold is an expensive commodity, and the cost of dealing with gold trading is also very high. When the buyer wants to buy a smaller number, such as 1 gram of gold, the buyer will be attached to the current price of gold (ie, spot price) 20% additional fee. And when we want to sell, we may have to lose 5-15% of the spot price. This means that for a small amount of gold holders, only when the price of gold rose 25%, can protect the capital.n
nSo on the other side of the debate, is it more suitable as a safe-haven asset than gold?n
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nGold and encrypted currencyn
nFor the block pencil readers, they naturally may ask: “Why use gold instead of bit coins or other encrypted currency to provide better scarcity, value transparency and uniformity?” This is a very interesting question The Gold still has some technical advantages. For example, the market price of gold is more stable than the market price of Bitcoin. This is because the amount of gold produced per year is less than the amount of bitcoels created in the same period, which is calculated as a percentage of the total stock. In contrast, gold has a true, broad and universal acceptance, gold can become a better asset is the fundamental reason for it in more than two thousand years has been accepted by the majority of the market. It has a strong position in the culture and thinking of global civilization. Experiencing war, depression, famine and technological turmoil, the status of gold is not only surviving, and even more vigorous development. There is nothing to beat the deep-rooted acceptance. So, the conclusion is simple, we should save some of our savings in the form of gold. This is not to collect gold itself, but because gold has the ability to maintain freedom and independence status, not the impact of political and economic crisis.n
nHowever, with the views of many investors, gold and encrypted currency is not the relationship between the right and wrong. In addition to being able to configure both at the same time, there are projects that provide a link between the new gold and the digital encryption currency, and one of the HelloGold projects from Malaysia.n
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nHelloGold, let the reserve gold democratizen
nWe have already said that in the past only the rich have the ability to buy gold to “insurance”, the situation has changed. Now we can save gold through the bank (before making sure to be fully allocated gold) and the gold support account such as HelloGold described below, as well as the gold encryption token that will be launched in the near futuren
nHelloGold is a digital and democratized gold decentralized financial Pratt u0026 Whitney platform that enables consumers in the mass market to participate in investment-level gold-based micro-savings through mobile mobile applications (Android and iOS). The mobile platform’s trading threshold is as low as $ 0.25. The gold purchased by the user from the platform can be used for savings, secured loans, and donated to others, and the user has direct ownership of the purchased gold. We store the full amount of gold in the Singapore vault, and the customer can cash all of these gold as solid gold bars, gold coins or cash. HelloGold not only provides users with a financial choice to better maintain and distract wealth, but also provides users with short-term financing options with guaranteed savings as gold.n
nThe HelloGold project is scheduled to begin in November 2015. The project team said it had planned and prepared a corresponding smart contract, but the HelloGold team then found that it was not possible to develop very specific product specifications because it was a real product and should be constantly changing and changing in line with the needs of the customer. As a result, the project site temporarily abandoned the use of smart contracts, turned to the use of Android and iOS mobile phone applications to establish the most simple and feasible products, which also use the core central network service system (Ruby), the administrator platform and multi- Go) micro service.n
nIn addition to helping ordinary people to buy trace amounts of gold, HelloGold also provides further extension services. For example, the team realized that many Malaysians were unable to obtain a loan, so they often pawn or collateral to obtain funds. So, HelloGold and AEON credit (AEON credit), so that customers can account for the gold as a guarantee, access to affordable loans. This agreement guarantees that the guaranteed gold will be fully released when the loan is fully closed; and when the customer is unable to perform all the repayment, the customer may redeem part of the gold.n
nAt present, HelloGold has built a fairly stable product. In the past few months, the project has begun to get the attention of the market, there are a lot of repeat customers.n
nAlthough there are mature applications, but HelloGold has not forgotten to adjust its smart contract to keep up with the progress of product iteration. The good news is that HelloGold will review and complete the prototypes on the block chain by the end of 2017.n
nBased on the design, HelloGold is a consumer application designed for the public who does not understand the technology. Based on the Data Assurance Act, it builds on private chain chains to maintain customer privacy.n
nWhen the prototype product is ripe, the team will build a bridge that allows gold to be transferred between the HelloGold product account and the GBT token created by the HelloGold Foundation. In simple terms, HelloGold users can convert their gold savings to ERC20 tokens, which in turn can convert their tokens into tradable gold deposits.n
nHelloGold’s core central network service system (Ruby) has been proven to be compatible with API, management platform and secondary service (Go) micro services. The team will use the Go server to pass the signed transactions to the geth node or peer node on the private etherfront network. After that, HelloGold will customize the data provisioning system (oracle), so that the public network and private network transactions can be easily carried out.n
nThe use of block chain gold trading, to ensure that ordinary people get the rights of high-quality assets, it sounds is not very interesting?n
nRecently, the HelloGold project is about to start its first batch of ICO, interested readers can go to the project official website www.hellogold.org or ICO platform www.icoage.com to understand the further situation.n

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