My fellow Steemians,
Just a few days after Rick Rule, President and CEO Sprott U.S. Holdings Inc., announced it would introduce a Gold-backed and convertible cryptocurrency, the Perth Minth of Australia came with the announcement that it is also developping a cryptocurrency backed by physical precious metals.
You can read my post about Sprott here:
https://steemit.com/cryptocurrency/@chinchilla/sprott-plans-to-introduce-a-gold-backed-and-convertible-cryptocurrency
You can read the article written by Tara de Landgrafft about the Perth Minth here:
http://www.abc.net.au/news/2018-01-24/cryptocurrency-backed-by-gold-being-developed-perth-mint/9352036
wikimedia
Thank you for reading!
If they actually do it it may crush Sprott's project, unless they come up with a twist
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I might, but I don't think so. Sprott has about 160.000 clients. A lot of them asked Sprott to develop such a crypto. I think it will be bad for some gold etfs though.
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