Two New Projects Aim to Combine Gold with Bitcoin Payment Technology
A gold-backed bitcoin may not be the dream team it's made out to be. Although there has been a lot of talk about backing Bitcoin payment with gold or other assets in the past, there are now two separate projects attempting to turn this idea into a reality. Plenty of people out there believe that there is no intrinsic value behind bitcoins, which is why they want to see some kind of real asset backing a new digital currency. There aren't many people who would contend that the payment technology behind Bitcoin is not revolutionary, but they'd like to see it tied to some kind of tangible....
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Last Tuesday, Gold Bullion International – GBI as confirmed the opening of a live gateway on the Ripple protocol in order to be able to create a new gold backed crypto currency. The company aims to simplify what has traditionally been a corky, time-consuming and expensive process while trying to combine the best that technology has to offer. Steven Feldman, co-founder and CEO of GBI. Said: “We have been leaders in combining technology and precious metals, and our integration into Ripple allows us to continue our push into digital currencies by enabling investors to now buy digital physical....
Developers continue to find new ways to combine digital assets and gaming, and investors are taking notice. Huobi cryptocurrency exchange’s dedicated investment arm, Huobi Ventures, has set up a $10-million fund to invest in early-stage GameFi projects that combine decentralized finance (DeFi) features with gaming.The fund will provide direct investment to projects that integrate blockchain gaming with DeFi mechanisms. The GameFi business models allow users to earn dividends through features including “play to earn.” On Aug. 5, Cointelegraph reported on a $100-million fund allocation by....
Open Transactions offers much more than just payments. Many people in the Bitcoin community have heard about Ripple and Open Transactions, but it seems that these two projects are rather difficult to understand. Most people understand the basic idea of these payment systems allowing Bitcoin-esque frictionless payments for more traditional currencies, but the details of each plan can get rather confusing. People get excited at the prospect of using dollars, euros, or gold backed cryptocurrencies, but how does it all work? Are there really any differences between these two projects? Let's....
Blockchain technology allows us to do many things, most of which we haven’t even discovered yet. One thing we do know is that the blockchain allows us to transfer ownership of assets in a transparent manner, and it also lets us back up these assets with tangible goods such as precious metals. This is where Midas Rezerv comes into the picture, as this company portrays itself as a decentralized distributed 100% gold-backed digital token in the form of MRCoin. Midas Rezerv: Who, What and Why? Many Bitcoin-related companies have been trying to combine the disruptive technology offered by....
15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG), for instance, has seen its market capitalization grow 407% since February 26, 2021, and Tether’s XAUT market valuation swelled by 248% since that day. Presently, PAXG’s and XAUT’s market capitalizations combined equate to just over $1 billion in value.
Pax Gold
Today,....