The Many Different Forms & Uses Of Gold
If you haven’t guessed it by now, at DinarDirham, we really like gold, like… really like gold. That shiny, mostly yellow, malleable, precious metal, used for wealth, investments, ceremonies, health, and electronics… ya, that stuff. That’s why we decided to create our gold-backed Gold Smart Contract & our gold price-backed DinarCoin cryptocurrency. Gold is an amazing metal, and we believe that everyone should be able to invest in it, store it, and use it as they will (more on that at the bottom of the article).
Gold has a long and complex history. This article will be exclusively about the different forms and uses of gold, but feel free to check out any of our other articles related to different aspects of this shiny metal:
–The DinarCoin & Gold – Advantages To Your Asset Portfolio [Infographic]
–Does Gold Still Have A Future In The Wave Of Growing Digital Assets?
–The Value Of Gold vs. The Value Of Fiat & Global Average Incomes
–Overview Of Commodity Backed Blochchain Assets [Gold Included]
–How Anyone Can Own, Use, & Transport Gold Anywhere (almost)
–DinarDirham vs e-Gold On Gold Backed Digital Currencies
–How To Join DinarDirham, A Step-By-Step Guide
–All You Need To Know About DinarDirham
–Gold Meets Blockchain Technology
–Gold’s Journey To The Digital Age
–Storing Wealth In A Digital Age
Ok, let’s get started…
Gold has long been used in religious artifacts. Peoples of South America for example have used it for ceremonial masks and trinkets. The items of the Hebrew Tabernacle were made of gold as well. And the Vatican has amassed large treasure troves of golden religious artifacts for centuries. These and many others have used gold for religious purposes, even the ancient Egyptians.
Ornamentation & A Sign Of Royalty:
Gold has long been used as a sign of royalty, and often used for decoration of royal objects. From crowns to jewelry, scepters and thrones, even as the decorations of special rooms and even of weaponry. Gold has even been interwoven into special fabrics for clothing and tapestries.
The Amber Room is an excellent example of such decorations. It used to be a symbol of peace between Russia and Prussia until it was stolen by Nazis in WWll and never seen by the public again. It was dubbed the “Eighth Wonder Of The World” and was composed of panels of amber, decorated with other jewels, and gold as well, which matched perfectly with the amber color of the assembled room.
Louis XIV of France (known as The Sun King) formed the greatest collection of tapestries in early modern Europe. Many of these tapestries had interwoven gold among the fabric threads.
A golden chariot wheel was found at the bottom of the sea floor, around the area of the Red Sea crossing mentioned in the Bible, as well as overturned and coral covered chariot wheels & axles. The find was discovered by Biblical archeologist & explorer Ron Wyatt & his team.
Jewelry & Watches:
An extremely common use of gold today is in jewelry, as well as some watches. Rolex, for example, has long been known for it’s luxury gold watches. Wedding rings are commonly made of the shiny metal. And jewelry made from this precious metal goes back thousands of years. Gold jewelry (a short chain) was even found in a lump of coal.
Some Southeast Asian countries have become well known for their gold jewelry production, particularly India, who’s government would like to encourage this trend.
Currency & Investment Bullion:
Gold has long seen it’s use as a currency. The Romans had gold and silver coins, among other metals. Gold coins were used around the world until recent times as forms of currency. Most to all countries today have abandoned the gold standard in modernity, though some countries almost seem to be attempting to recreate one, you can read more about countries stockpiling gold here. One innovative nano technology (which I’m currently unable to re-find, but similar to this) was a paper-like bill made of real gold and real silver, by an American inventor who was trying to get the US back on a gold standard.
Today however, most gold coins and bars are put in the bullion or collector categories, and are mostly purchased as investments and for wealth storage.
Of course, there are investment assets that merely represent an amount of gold (or the value of a particular amount of gold) or a share in a gold company. These may be in paper form or digitally saved in an online investment portfolio. With the advent of blockchain technology and tokenized assets however, it’s possible to create a digital token which represents the value of a particular commodity (or anything else for that matter), gold included. It’s that kind of technology that makes products like ours possible. With digitized gold, you can have the ease and convenience of a cryptocurrency, without the same volatility factor.
Since gold is extremely conductive and non-corrosive, it’s been used in computer electrical components. Computer parts made with gold are said to be highly reliable. Some people even go through the trouble of salvaging the gold from old thrown away computers.
NASA has been quite fond of using gold foil on it’s space vehicles and space helmets as radiation shielding. This is because the gold helps to reflect the radiation from the sun. It’s likely also preferred to other metals which do the same due to the fact that gold does not corrode.
As it turns out, gold is actually good for your health! Colloidal gold has been used as a health tonic for a while now. And as of recently, gold nanoparticles have been experimented with in combination with other technology to help selectively kill cancer cells.
Gold is an amazing metal, that much is sure. It contains many physical properties that help make our lives easier, and it helps to carry value as an investment. We’ve chosen gold because of it’s long and outstanding use as a commodity for storing wealth (even as a hedge fund), and we’ve chosen to create digitized gold assets because of the flexibility and convenience factors that come with cryptocurrencies. Check out our Gold Smart Contracts (GSC) and our DinarCoins (DNC). You may also want to consider checking out our advanced & secure Blockchains.my digital wallet app (BCMY.io), which can utilize multiple cryptocurrencies, including BTC, ETH, ZEC, XRP, DNC, and GSC. It’s also hosts a wide range of features and other payment options.
Hope you enjoyed this week’s article.
Have a great rest of the weekend.
The DinarDirham team.