Gold is considered to be an important asset worldwide. In the process of forming life, gold is considered a rare and valuable metal. Owning gold can be a good barrier against inflation and is a good portfolio diversification tool. In addition, gold can also provide financial insurance in geopolitical unrest and macroeconomic The benefits of gold storage:
1. Anti-inflation
2. Keep value
3. Deflation Protection
4. Increasing Demand
5. Portfolio Diversification
According to the US Department of Financial Control, there are about 100,000 attacks a year on private banking systems, funds and trading systems, and robbed tens of billions of dollars each year. The most common are DDOS attacks, this is one of the popular attacks worldwide, the problem of whether DDOS can overcome Blockchain?
In Blockchain, two security keys exist for each transaction: The public key can be used to view a user’s account balance and transaction history, but it cannot be used to identify the account owner’s identity or to make changes to their record. The private key is linked to the user’s account number, and can only be used once. Even if a hacker could steal the private key and decrypt it, it would not enable them to make further transactions.
Buying and selling assets has always involved a lot of third parties, such as brokers and the stock exchange itself. Here is how trading works:
1. The buyer or seller initiates the trade.
2. A broker sends a transaction to a stock exchange.
3. The transaction is matched with another party (counterparty).
4. The transaction is sent to Central Counterparty Clearing House for risks evaluation.
5. The buyer’s or seller’s representatives work with the Central Securities Depository (CSD) to record the transfer.
6. The transaction is sent to the Registrar or Transfer Agent of Initial Trade to update their list or shareholders.
As you see, the traditional stock exchange process involves lots of stages and bureaucracy and can take up to 3 days. Time is too long to wait. However, decentralized nature of blockchain technology in banking can remove all those unnecessary intermediaries and enable trading to be run on computers all over the world. No more dedicated servers united into an interconnected network.
When you send or receive a payment, the funds typically move through banks, credit card processing networks, and other intermediaries. Each step adds complexity, and every service provider expects to earn a fee for the part they play in your payment. Blockchain-based transfers save time and money For example, assume a worker in the U.S. wants to send funds to her home country. In the past, she’d have to travel to a money transfer office, wait in line for an agent, pay cash, and pay fees of 7 to 10 percent to complete a transfer. The recipient might follow a similar process. But with blockchain technology, both parties can complete an electronic transfer with mobile phones—and pay far less.
SavingIt is estimated that the world will save 0.7 to 1.2 trillion US dollars each year thanks to Blockchain application to significantly reduce transaction costs, management, personnel, warehousing. For example: If you want to sell an apartment, it will take a lot of time and cost for this process, but when your apartment is digitized, all transactions are just one click while ensuring transparency.
Easy tradingHave you ever thought of buying and selling assets only by a few clicks like buying and selling stocks on the exchanges Nasdaq, NYSE, LSE ? That's right, when your assets are verified on Blockchain and encrypted, you can completely trade and exchange assets through a certain token. Gold, silver, real estate ... or any asset .
Transparent and safeAll transactions of investors and traders are recorded on Blockchain. SmartContract will serve as a fair referee giving terms and automatically enforcing sales agreements. This technology allows two parties not to confirm their tradable identities without worrying about cheating.
