SDGcoin uses the Blockchain-based protocol of the coloring of a fraction of an SDGcoin to enable creation of digital assets that inherit the positive bitcoin characteristics of: (1) P2P transferable; (2) public & immutable; (3) secured & decentralized, while avoiding its weaknesses.
Anyone can create an asset, define it and set a value to it, and an asset can represent a tangible product as well as a digital item. For example, an asset can be a share of a company (digital) or represent, as a proof of ownership, a gold bar that is claimed by a certain individual.
The value of digital assets is tied to a real-world promise by the asset issuer who is willing to redeem this asset for something of value in the real world.
While the Blockchain was originally designed as the backbone of a digital currency, developers soon realized the Blockchain could also be used for other purposes, in particular, as a backbone for the issuance and transference of digital assets.
The open source software that powers the Blockchain also supports a limited scripting language that can be used to store (small amounts of) free data on the Blockchain by adding tiny fractions of SDGcoin transactions to it.
There are several key advantages to using the Bitcoin Blockchain as the backbone to the SDGcoin platform.
Firstly, we inherit the underlying Blockchain’s security features as a data store. Asset management instructions automatically enjoy the transparency, data integrity and immutability that are the hallmarks of the Blockchain security model.
Secondly, since it is the infrastructure of a digital currency, Blockchain based digital assets are inherently transferable, just like the underlying SDGcoins.
Thus, digital asset management on top of the Blockchain allows us to issue, transfer and trade digital tokens with unprecedented security and ease. Our Bockchain protocol, running on top of the Blockchain, is the most advanced tool for issuance and exchange of digital assets in existence today.
Any digital asset imaginable can be issued this way with the SDGcoin platform. Digital assets can have an arbitrary number of units, any desired divisibility and metadata listing with the asset’s name, description, issuer as well as any other unlimited amount of data that is stored in a decetralized way.