Tuesday, 29 November 2016

The Royal Mint and CME to launch digital gold on blockchain

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In the UK, there have been robberies in which large quantities of gold and silver have been stolen from homes (here’s some I wrote about a few years ago)

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Why would anyone mess about with physical gold that you can drop, lose, have stolen etc. And I bet it’s hard to buy anything from Amazon with it. I’m more than happy for people to send me gold (you’re welcome to try the experiment) but generally speaking I’d prefer the dematerialised version sent to my Goldmoney account.

From Just popping out to get some gold | Consult Hyperion

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Even i

 

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A return to the gold standard may be impractical or even undesirable, but the idea of new technology monetising the store of value that is gold seems altogether a different proposition.

From There have been worse ideas, surely? | Consult Hyperion

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The Royal Mint and CME Group, the diverse derivatives marketplace, are collaborating on a “digitised gold offering" which will be traded on a blockchain – to be made available at some point in 2017. The blockchain-based gold product, called Royal Mint Gold (RMG) will transform the way traders and investors trade, execute and settle gold, said a statement.

From The Royal Mint and CME to launch digital gold on blockchain

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[The Mint] will issue RMG as a digital record of ownership for gold stored at its highly-secure on-site bullion vault storage facility. CME Group will develop, implement and operate the product's digital trading platform.

From The Royal Mint and CME to launch digital gold on blockchain

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Douglas Jackson is the Chairman and Founder of e-gold, one of the very first attempts to create an alternative electronic currency based on gold.

From Douglas Jackson, e-gold | Consult Hyperion

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