Traditional way people walk into jewellery shop or bank to buy physical gold. Most people Buy or Sell gold for emergency purpose or during a wedding ceremony. How to transform their behaviour to digital investment in the gold platform using mobile phone in a secure way and guide them to invest digital rather than traditional ways to own gold without keeping a physical.
First of all the main issue with general public is they are attracted towards gold in form of jewellery and think it as an investment. In our Indian society gold jewellery are an important part of marriages, so people think of investing in physical gold .Another issue is lack of guidance and knowledge of digital gold investment option as very less people are aware of this form of gold buying.
Ways to tackle this issue:-
- Explaining that jewellery cannot be considered as an investment.
-Explaining the mechanism behind how buying and selling of digital gold works.
-Spreading information about digital gold buying as an investment.
-Explaining general public the merits of buying digital gold.
-Spreading information through mass media about platforms available to buy digital gold.
-Making them realize how digital gold can procure more benefit over physical gold.
-Security of digital gold.
-Explaining how easy it is to buy digital gold even with mobile UPI applications like GPay, PhonePay etc.
-Information about government backed ventures like MMTC-PAMP India Pvt for buying digital gold.
Vidya Pathe ne, Janas Ganthe, Money investment in Jewelry or sold gold is advisable. One time finance minister Morarji Desai said “ My country is rich, but gold is in public, but not with government “.....
If the acquisition of gold is for adornment or is related to social traditions such as marriage, then it is very difficult to change that, but if for the purpose of investment, it is possible to change that as in the previous answers.
I totally agree with @Siddhesh Naik's