The gold monetary system of past did not fail by fundamental design. Central bankers first perverted it with paper notes and leveraged markets. Finally, in 1971, government abandoned it due to their own overspending. The resulting fiat we have today will fail by design, it never had a chance. Money cannot be baseless and printed into infinity. Having a central authority issue money at will results in corruption, class disparity, and eventual hyperinflation. All of which progresses slowly and inconspicuously at first.
Digix, a company based in Singapore selling cryptotokens (DGX) redeemable for real gold announced a partnership with SilverGoldBull.com (SGB) today. A mutual benefit, however, strong partnerships usually create tougher competition. The partnership greatly increases the offering for customers of both Digix and SGB. Digix will have their metals stored in custody with Silver Gold Depository, which uses Brinks for the vaulting of precious metals.
IAMGOLD Corporation today announced that it has made a strategic investment in Emergent Technology Holdings LP, a financial technology company that uses blockchain technology to track the provenance of responsibly sourced gold. IAMGOLD joins partners that include Sprott Inc., Valcambi sa and Yamana Gold Inc., in investing in EmTech’s innovative gold supply chain and digital token platform. EmTech’s Responsible Gold™ supply chain application is the only blockchain solution that automates the tracking of responsibly sourced gold from origin to vault.
Many knew it all along; blockchain is secure, transparent, flexible, universal, efficient. Anyone not implementing mainstream blockchain today is being left in the dust, like a business still using file cabinets in 1999. One of the best use cases for blockchain is the banking industry. Nasdaq claimed blockchain has potential for reducing settlement time and risk exposures over 99% when the exchange implemented its own blockchain-based platform in 2015. At the time, former CEO of Nasdaq Bob Greifeld said…
Canamex Gold Corp (CVE:CSQ) signed terms of agreement with Harmonychain, a Norwegian fintech company. The pair are considering issues around an ICO, one potentially backed by gold / silver using Ethereum technology. Following taken from CanamexGold.com Your opportunity to be part of the “Silver Standard” in the new wave of silver-asset-backed security […]
The gold industry is looking into the possibility of tracking the precious metal using blockchain. The Perth Mint is already working with the London Bullion Market Association (LBMA) and two or three other parties to work out which technology is the best and if the gold industry will adopt it. Blockchain is best known as the basis of cryptocurrencies such as bitcoin. But it has many other potential applications such as securing digital contracts and supply chain data. The technology allows a publicly available, tamper-proof…
TORONTO–(BUSINESS WIRE)–Vault, the Canadian-Swiss smart contract platform, today announces its partnership with blockchain-driven trust company Prime Trust. Under the partnership, Prime Trust will act as fiduciary and custodian of the LBMA gold bullion behind Vault’s gold-backed and redeemable, 1:1 USD-pegged stablecoin, USDVault, which will launch in Fall 2018. Vault is […]
Russian lawmaker Vladimir Gutenev, in an interview with the country’s Tass news agency suggested Russia should use gold-backed cryptocurrencies for collecting money from its export of weapons. The lawmaker said Russia should “consider the possibility of conducting transactions in cryptocurrencies that are linked to the value of gold.” Such a […]
JPMorgan Chase has partnered with National Bank of Canada and other major firms to trial a blockchain platform aimed to improve the debt issuance process. The investment bank said in a statement Friday that the trial, which took place on on Wednesday, mirrored a $150 million offering the same day […]
Malaysia-based Fintech Investment platform, HelloGold, has been successful in securing Series A funding. Established in 2015, HelloGold has also made a mark as one of Malaysia’s first Fintech companies, allowing users to purchase investment-grade gold for a fraction of a dollar. In March, the company were among the winners of Malaysia’s […]