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Open original source ↗Saying the obvious. Most people “in crypto” know this, most people “not in crypto” may not understand yet.
Tokenizing gold is NOT “on chain” gold.
It’s tokenizing that you trust some third party will give you gold at some later date, even after their management changes, maybe decades later, during a war, etc.
It’s a “trust me bro” token.
This is the reason no “gold coins” have really took off. 🤷♂️
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These are the quoted author’s words.
Peter Schiff reveals he will be launching a tokenized gold product "You'll be able to buy gold on an app through your phone, the gold will be stored in a vault and then you will be able to effortlessly transfer ownership of gold to people you know or redeem it for physical gold" https://t.co/mWCXVKj9v8
kai_xbt ↗