Goldback GoldBack token is a purchase agreement between the token holder and the GoldBack issuer secured inside of a smart contract and on the blockchain which can then be used exclusively in the GoldBack Ecosystem. Each GLDB token is a purchase agreement equal to a percent of company total gold storage and can be redeemed for its equivalent physical gold at any time. This brings together the liquidity of this next generation of digital tokens with the material fortitude and time tested value of physical gold. The convenience of money on computers combined with the peace-of-mind of gold.
GLDB tokens are essentially a forward sale agreement embedded in a smart contract based on a percentage of total gold storage at any given time, as audited and validated through the blockchain. This value can only go up as once the physical gold has been added to our vaults it can never be taken away unless a digital token is ‘burned’ resulting in the activation of the embedded gold forward purchase agreeme