DIGITAL GOLD CURRENCY

A digital gold currency (DGC) is an electronic form of money which is backed by gold reserves held in vaults by private agencies. The holders of any particular DGC can pay one another in gold, or currency units representative of gold held in physical form by the issuing company. Each of these companies, or exchanges, maintain a physical reserve reflecting 100 percent of client accounts. The first DGCs appeared in the mid-1990s, led by E-Gold.

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