CryptoGold VS CryptoCurrencies

We are now seeing the first indications of having  Cryptocurrencies fully backed by a physical product – Gold. The Perth Mint in Australia is developing a CryptoGold product based on the security and trust underlying the BLOCKCHAIN. Look for a new asset class of value in late 2018.

Presently Cryptocurrencies run on the BLOCKCHAIN, but lacks a physical backing. As long as enough individuals believe in and want a cryptocurrency; use it as a store of value, investment or transaction purposes; and there is a limited supply of the cryptocurrency – their price will go up or fluctuate wildly. The price is based on supply and demand for a digital entry on a transparent, distributed ledger.

Now CryptoGold will become more accessible to the man-on-the-street. It will be a Cryptocurrency which is backed by physical gold bars with a fully distributed, transparent record of that bar from miner to buyer to future buyers. Individuals will not have to carry that gold with them, but will always have verifiable physical ownership and be able to sell or exchange it for goods and services, including Fiat Currencies. The BLOCKCHAIN is incorruptible and hack proof.

Individuals around the world are looking for something different to keep their savings in: something outside of bonds; something outside of the financial market – a physically backed asset that has their trust.

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