The UK Royal Mint has now officially launched their own Blockchain-based, gold-backed, cryptocurrency.
The UK Royal Mint is the official institution responsible for producing all of the physical money in the country has for circulation. This means that this crypto is official!
I am not sure how interested I would be in purchasing any big-government coin, but if I were going to do so, this would most certainly be one that I would consider. None the less, this is definitely a step towards worldwide crypto acceptance.
The coin is called Royal Mint Gold (RMG), and it is a digital representation of gold stored in the Royal mint vault.
The UK is not the only country in the works of having their own crypto. Australia recently reported that their largest refinery, Perth Mint, would also be creating their own crypto backed by precious metals.
Would you want to own a precious metal backed cryptocurrency? Tell me in the comments!
To the moon,
backed by precious metals defeats the purpose of the crypto,
And just leads back to the same system which is falsified now with fiat originally been backed by gold or other metals. Why go bak to what proved itself to be a faulty system?
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I can’t help but agree. The “official” aspect of it is intriguing, it’s nice to see something as big as the UK Royal Mint taking interest, but I also feel like it defeats the purpose of cryptocurrency in itself.
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Thanksgiving is good for sharing good information @bwells
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Great information! Thank you for the good post! If you interested in Cryptocurrency and the trending news about, you more than welcome to check out my page @southforce where I provide daily news on trending topics about Cryptocurrency!
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great information.
thats pretty cool to know.
thanks
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Gold standard Blockchain might be a gold hold of value as a replacement for the obviously defunct usdt. We could embrace an altcoin like this for investment stability in turbulent times in crypto and as a good placement in Bittrex and other exchanges to go with eth and btc
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Great post thanks for the info, if the UK its thinking about it i so hope the usa starts to get behide it alot more, crypto will changes lifes all over the world, i cant wzit to start paying rent and go out shopping for food and clothes with it
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Gold backed crypto ? We don't even have gold backed fiat , that would be huge if true !
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wow this is a gold of a news :D
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Yes
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