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  1. Modern computer ledgers use cryptography to enable highly secure digital commodities to faciliatate global real-time transactions. While bitcoin provides perhaps the most secure digital asset on the planet its value is highly volatile and therefore inappropriate for several classes of transactions that require additional predictability in terms of purchasing power. Despite bitcoin being the most secure and liquid digital commodity most similar crypto systems exhibit many of the features that make bitcoin great such as cryptographic keys that verify ownership and digital signatures enable transactions. Other systems introduce counterparty risk in order to maintain purchasing power for holders of the commodity at some peg to a real-world entity. Instagold is an all-digital commodity designed to carry the purchasing power of gold bullion by maintaining liquidity between instagold and bitcoin, and between instagold and physical gold bullion. Instagold aims to prove that money is a socially-shared phychological construct wherein people assign value to a particular controllable item. The instagold cryptographic commodity version alpha is tracked on the Ripple global consensus ledger as XAU issued by the ripple account rfYJPE1o9sWypZPhEKZtpAyA36DbCQLYgY, with the goal of 1 XAU equivalent to the price of delivery for one one-ounce of us gold eagle coin. Use the ripple charting software to follow the market for instagold. Currently a market of two instagold is maintained and anyone can contribute to the market and trade instagold by using a ripple-enabled trading client. Instagold will serve as a building block for digital economies to root their value in gold, the world’s most highly trusted money throughout history. Of course there are incredible challenges to building an always-on digital commodity that is based in the value of gold, including counterparty risk, high availability, privacy and market integrity. Advances in decentralized software development will continue to expand the possibilities in the realm of digital commodities, and instagold is positioned to take advantage of future improvements in technology to enhance its offering and maximize the experience of using money across the world. Here is the original blog post: http://stevenzeiler.tumblr.com/post/133383924889/instagold-digital-commodity
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