Combining Gold Assets With the Blockchain: Britain’s Royal Mint and Vaultoro
News of the recent collaboration between Britain's Royal Mint and Chicago-based derivatives exchange CME Group has renewed conversations regarding the intersection between blockchain technology and gold assets. This relationship has led to the creation of an innovative and cost-effective approach to the trading, executing and settling of gold....
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Britain’s Royal Mint and Chicago-based CME Group, a derivatives marketplace, have now entered testing of their gold trading platform based on blockchain technology, ahead of its planned launch later this year. Bitcoin startup BitGo is notably playing the part of a developer alongside blockchain firm AlphaPoint in helping the CME Group to develop the open-source blockchain. The startup’s multi-signature technology, used for its bitcoin wallets, will be the core security technology used for the blockchain trading platform. “Distributed ledger technology is a game changer and supplying gold....
The Royal Mint of Britain announces its plans to introduce blockchain based platform for trading gold backed crypto assets. Bitcoin has come to be known as “digital gold” for having many properties similar to that of the yellow metal. Now, Bitcoin’s underlying technology is being adopted by the Royal Mint— Britain’s coin maker to enable trading. Unlike Bitcoin, gold is a physical asset and not so easily divisible when it comes to smaller values. Imagine carrying out transactions with minute quantities of gold for daily expenses, got the idea? By tokenizing the precious metal using....
The Royal Mint, owned by Her Majesty’s Treasury, will soon begin a “digitized gold offering” made possible by blockchain technology, bitcoin’s underlying innovation. Announced today, The Royal Mint revealed its partnership with CME Group, a derivatives marketplace to develop the digital gold product called Royal Mint Gold (RMG). For a 100-year-old institution, the announcement represents a significant endorsement of the technology. “RMG will change the way traders and investors trade, execute and settle gold,” The Royal Mint stated. Initially, up to $ 1 billion worth of gold in RMG will be....
One of the UK’s oldest bullion producers and the entity that strikes British coins, the Royal Mint has just announced a gold-backed blockchain effort. In partnership with one of the world’s largest options and futures firm CME Group, the two companies aim to release its blockchain project in 2017. 1,000 Year Old Royal Mint to Create Blockchain-Based Gold....
At over 1,000-years-old, The Royal Mint – the only institution licensed to provide coins in the UK – isn't the type of business you might expect to be launching a blockchain. However, in the face of new "technological and competitive" challenges, The Royal Mint is doing just that, announcing today that results of an investigation into how it could digitize its processes for the benefit for partners and customers. As part of this larger drive, The Royal Mint has teamed with derivatives marketplace provider CME Group to build and launch a digital gold offering, one that could find....