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Perth Mint, Australia’s official bullion mint, currently faces a $9 billion recall from China for allegedly selling “doped” bullion and attempting to cover it up, as reported by Australia’s ABC News. The practice of doping gold involves adding impure ore like silver to the mix to cut costs and lower the quality of gold. Reportedly, […]Powered by WPeMatico
The Dubai Multi Commodities Centre (DMCC) has announced a new partnership with the firm Comtech Gold in order to digitize gold trading. The DMCC said the tokenized precious metals are backed by DMCC Tradeflow-registered gold bars, and each tokenized gold bar “will be backed by a Tradeflow warrant.” DMCC to Digitize Tradeflow-Registered Gold Bars via […]Powered by WPeMatico
The issuance of new digital currencies has almost become a given in this day and age. Not all of these currencies are linked to companies active in the world of blockchain and cryptocurrency. The Perth Mint Gold Token is a good example. It is issued by a recognized financial institution and aims to revolutionize payments. Back to the Gold Standard? It is somewhat remarkable to see so many companies and service providers show a desire to go back to a form of money tied to physical gold. Although the gold standard was removed from the equation many decades ago, there
The post The Perth Mint Issues a Digital Token Backed by Physical Gold Reserves appeared first on The Merkle Hash.
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Perth Mint, Australia’s largest gold refiner, has announced plans for the development a cryptocurrency backed by physical gold. If successful in developing the altcoin, it will join a long list of virtual currencies seeking to entice cryptocurrency investors to experiment with commodity-backed virtual currencies, including Venezuela’s soon to be launched ‘petro’. Also Read: Venezuela Considers Selling […]
The post Australian Gold Refinery Announces Plan to Develop Cryptocurrency appeared first on Bitcoin News.
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