RE: Gold-Backed Cryptocurrency - Part I of II
You are viewing a single comment's thread:
I would love to see a gold backed coins or other real assets trading on Hive Engine.
Sadly, a "gold-backed cryptocurrency" can't really exist because gold is a real thing and cryptocurrency can only back crypto things.
Things can go wrong with gold backed coins. The gold can get stolen or it might be discovered that some of the gold is really gold plated lead.
Perhaps something could be done with gold derivatives. Derivatives derived from real things become problematic when the real thing is discovered to have been corrupted.
A guess one could create a pure cyber derivative with puts and calls.
I like the idea of gold backed security but I don't think it should be called a cryptocurrency as it is dependent on an legal entity.
!BEER
Posted Using LeoFinance Beta