digital currency based on gold

When you think of cryptocurrency, you most likely think of the digital currency you trade via online platforms. A Federal Reserve created digital coin could be one of the most dangerous steps ever taken by a government agency. The NEW dollars would be pegged to gold, possibly at a modest starting point of $10K or even higher, effectively returning the Gold Standard. It would put in the hands of the government the potential to create a digital currency with the ability to track all transactions in an economy---and prohibit transactions for any reason. Australian startup Meld Gold has partnered with blockchain protocol Algorand, to create a decentralized gold token.. That is what it means for paper currency to be on the gold standard. Meld Gold will integrate into the existing gold supply chain to deliver faster trading and settlement of gold through … GOLD - ERC20 Token Based on Ethereum blockchain it allows instant payments and can be used anywhere in the world, online and in stores via GOLD debit cards. Meld Gold by Algorand. Up until relatively recently (the last century or so), most ordinary paper currency and coinage was directly redeemable for gold. Gold-Based Cryptocurrency. The future of money. Bitcoin Bursts onto the Scene . It is a digital currency, free of regulations created by … The reference to a ‘digital dollar’ in an early draft of a U. S. legislation for the first $2 trillion financial stimulus package announced in March, along with the subsequent ‘Banking For All Act’ bill put forth by Senator Sherrod Brown (D-OH), has fueled this debate. When it is a question of how a national digital currency based on block chain and crypt-currency technology can be backed by gold, one can only speculate on how this could be implemented. Kinesis is a revolutionary monetary system, based 1:1 on allocated physical gold and silver, bringing back a true store of value to the global economy and rewarding all … Although a number of state and private bank paper currencies came and went during the first hundred years the United States existed, gold and silver coins were always used in tandem, creating stability. The debate on central bank digital currencies (CBDC’s) has been heating up since the COVID-19 crisis began. The tech company created a digital platform that plans to change the way gold is bought and sold. Bitcoin is a blockchain-based cryptocurrency that shares some properties with its gold counterpart. Gold-backed cryptocurrency is similar in that you can buy and sell it digitally, but there’s more to it. Guest author Abhishek shares his thoughts on how basing cryptocurrencies on gold prices may lead to a more stable market, and in turn, a more solid investment. So, following a massive plunge in dollar values, we’d see a surge in gold prices and, with the new dollars, a surge in gold-backed dollar values as well. From 1793 onward gold helped cement the economic growth of the United States. GOLD (GOLD) is a non-government contro­lled digital currency that allows people to send money anywh­ere in the world ins­tantly, securely and at near zero cost.

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