It seems everything now has to have a digital spin in the modern world where our everyday lives are flooded with technology. Digital Gold Currency (DGC) is a private monetary system independent from any government, based on a the physical measure of gold value, normally quoted in troy ounces.
The currency is a none physical gold asset issued by several companies, including e-Gold and Gold Money for transmitting between account holders.
The main advantage of Digital Gold Currency is cross border financial transactions, in theory, digital gold transcends territorial borders, independent of local currency exchange rates and duties.
Digital Gold Currency accounts and held credit, just like physical gold and currency are susceptible to fluctuations in value relative to the current market value - Your transaction value can literally sell or deflate while in transit to the recipient!
Most Digital Gold Currency Companies operate a physical gold backed guarantee, covering their exposed capitol with gold stored in a secure location, many will publicise a 100% physical gold backed guarantee.
There are several legal implications to the business practises of many Digital Gold Currency operators, the US Government is currently pursuing several companies on charges relating to unlicensed money transactions. Of all the Digital Gold Currency companies currently operating, only one, Gold Money, is regulated by the Financial Regulatory Authority.
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