Aurus aims to bridge the gap between the traditional gold market and the new market by creating a simple and effective gold backed cryptocurrency that can be accessed by people and organizations globally for trading and use. The platform achieves this by providing the gold in the form of token on the Ethereum public blockchain to the qualified commodity providers who are an estimated 30% of the gold market.

The process of gold digitalization on the Aurus platform starts with the traders depositing their gold on the platform. The stored gold will be the basis to determine the value of the AWG coin. Once the bullion is audited and evaluated, the tokens are created. The tokenized gold is now liquid, easy, and cheap to trade on a decentralized platform. Aurus with the help of blockchain technology has the power to change how gold is traded as the digitization of gold will allow for the quick settlement of trades, tracking the supply of gold in the market and the secure verification of the underlying asset quality.

Aurus Features

  • Fully allocated gold backed cryptocurrency
  • The asset tokenizing protocol allows for a safe and secure platform that is used by gold traders in Europe to tokenize their fully accredited gold under the AurusGold (AWG) currency.
  • A modern way of asset management- the use of blockchain technology allows for a new way to trade gold apart from the traditional mechanisms that have been used since time memorial. The AurusGOLD token represents ownership of fully audited and safely stored gold.
  • Gold can be used as a basis of value- a gold cryptocurrency can become one of the most stable currencies in the world. In the cryptocurrency market, this would mean profit for the investors and a good store of value for the ICO creators.

Benefits Of Using Blockchain Technology In Gold Trading

Trading of gold is set to become more efficient due to the emergence of blockchain technology. Gold is still a worthy investment due to its features of being scarce, secure, and valuable. However, the methods used to trade it in the 16th century are still the ones being used today. The use of blockchain technology brings the benefits below to gold trading.

  • Blockchain technology can replace the use of paper gold with a digitalized and new gold realm that reduces the cost of getting ETFs and protects investors from loss of money in case of insolvency during a bears market.
  • Tokenization of gold will decrease the trade frictions and introduce new investors to gold trading especially those who were discouraged by the expensive procedures and legal complications. Additionally, the liquidity of gold will increase and its reach too. Tokenization also ensures that the gold is safe in audited and fully secured vaults.
  • Blockchain technology will make it easier to track gold improving integrity and transparency
  • Blockchain technology also does away with intermediaries ensuring that traders can trade with others in a decentralized marketplace.

Aurus AWG ICO Details

The Aurus token referred to as AurusGOLD is priced at 1 AWG=$43.86. The Aurus wallet allows investors to trade, buy, store or sell the AurusGold tokens. Gold traders can integrate APIs that will enable them to buy and sell the tokens and trade them for other cryptocurrencies in their platforms. Merchants can also integrate APIS that will enable them to accept gold as a payment in exchange for the services they offer. The Pre-ICO went live in February.

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