Why the ‘Flash Boys’ Are Fighting Opaque Gold Markets With Blockchain
The code at the heart of the IEX stock exchange that inspired author Michael Lewis's bestseller "Flash Boys" could soon form the foundation of a blockchain-based gold exchange. As part of a $9m investment by IEX and Sprott Inc in the newly launched Tradewind Market, the codebase will be integrated with an as-yet-undetermined blockchain for the purpose of streamlining gold trading and bringing more transparency to the market. But a key difference is that while IEX's secret sauce was the so-called "speed bump" that slowed some kinds of high-frequency trading in an attempt....
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The company featured in the bestselling book "Flash Boys: A Wall Street Revolt" reportedly plans to use the blockchain to build a more transparent gold exchange. Startup TradeWind Markets, which recently spun off from The Investor's Exchange (IEX), is said to be preparing to launch the exchange in the coming months, according to Reuters. The firm aims to tap blockchain to increase the transparency of the gold exchange process, including the clearing and settling of trades. With the news, TradeWind Markets joins companies such as Netagio, itBit and Euroclear as the latest to....
Gold prices have dropped below $1,700 per ounce this morning in what analysts described as stop-loss driven selling. Gold prices have tanked during the Monday morning Asian trading session, compounding losses accumulated over the past week.On August 9, the price of gold quickly fell to its lowest level since March as a flash crash drove prices below $1,700/oz.According to Tradingview, the price of the precious yellow metal plunged to $1,690/oz during Asian trading hours on Monday. The price of gold has since posted a minor recovery, last changing hands for $1,742/oz at the time of....
The price of an ounce of gold dropped dramatically this week, slipping under the $1,700 handle to $1,688 per ounce on August 8. On Monday, gold regained some of the losses jumping 2.36% back above the $1.7K region to $1,727 per ounce of fine gold. Gold’s Volatile Movements This Weekend Blamed on a Number of Elements While bitcoin (BTC) prices are up more than 4% on Monday and over 16% during the last week, the value of gold has been dropping lower in fiat value. On August 6, 2021, the price of gold per ounce was trading for just over $1,800 per unit and slid to $1,688 per unit two....
Is owning digitized gold a better option than physical gold? Comtech Gold tokenizes the metal making it more liquid and secure. The take-off of digital gold has the potential to disrupt the industry to an unprecedented degree. Historically, gold has been used as a global currency as a hedge against inflation. It has also been serving as an investment venue (commodities), often preferred over other asset classes like equities or foreign exchange, particularly in conventional markets. However, there are certain disadvantages to owning physical gold, such as inconvenience in transport and....
Bitcoin may undergo a significant price correction before the US presidential election due to its proximity to gold, hints Clem Chambers. The CEO of ADVFN – Europe’s leading stocks and shares website, told Kitco News that most assets that have shown a positive correlation during the 2020 bull run tend to fall in tandem. He spoke about gold and how a “flash crash” in its markets could leave other assets in a similar bearish spell. […]