The project is about decentralized cryptocoin token platform backed by precious metal called ‘Gold’. Of all the precious metals, gold is the most popular as an investment. Customers generally buy gold as a way of diversifying risks, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, gold has the most effective safe haven and hedging properties among a number of countries.
Gold’s relative scarcity, its portability (you can carry small bars, coins or jewelry), and its great demand in industrial applications, make it a highly desired commodity. Cryptocurrency has adopted some of gold’s benefits with the creation of a bitcoin that is scarce: through the introduction of a digital coin that can be easily and effortlessly ransmitted and by the creation of a distributed, decentralized blockchain that aids business. Cryptocurrency also adds value by making one' transactions fast, secure and transparent.
Despite significant recent developments and innovation, the market for cryptocurrencies remains very niche. Cryptocurrencies still have shortcomings that discourage mainstream use, in particular high volatility and barriers to entry.
The DRCGcoin ecosystem will offer merchant apps and payment processing services, making DRCGcoin an excellent medium of exchange all around the world.
DRCGcoin is a comprehensive product. There is no interest mechanism in the issuance of DRCGcoin , profit-loss sharing is part of the rewards scheme, and there is minimal speculation as DRCGcoin is an asset backed by physical gold.
Different Critical Checkpoints followed by Crypto Token Based Architectures are described in detail. We have some future enhancements also in our thought process that is described in the closing sections of the paper.