A company is creating an ecosystem where tangible assets such as gold can be traded for virtual currencies in a digital environment.
The platform, known as the Digital Gold Exchange[1] (DGE for short,) says it has the goal of establishing a place where users can securely store their assets and trade with others “quickly, safely, and without intermediary intervention.”
It is designing a blockchain-based ecosystem which it hopes will allow individuals and companies to join – trading without borders wherever they are in the world.
Although gold is going to be a primary focus for the platform, DGE’s white paper[2] says the company eventually plans to expand to other precious metals including diamonds, platinum and white gold. The company aims to make changing gold into tokens a fast experience, with conversion rates that are based on the official market prices listed on gold exchanges in South Korea and around the world.
According to DGE, one particular focus has been developing a trade system that is easy to understand, well designed and not too dissimilar from the payment processing systems commonly used on e-commerce sites – making its platform accessible and usable for customers from a range of age groups.
Partnerships established
Digital Gold Exchange says it has established partnerships with recognizable brands – and these agreements will result in a “stable and reliable ecosystem.”
According to the company, its first exclusive contract was signed in February with the Korea Gold Exchange 3M, the country’s largest gold merchant.
In March, an agreement was reached with Happy Money, a brand whose gift cards can be used to make purchases on more than 500 brands in Korea. Under this deal, users
