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Can blockchain awaken gold as a payment tool again?

Time : 14/08/2021 Author : 4zghnd Click : + -
        According to the practice of senior analyst johndwyer in Securities and investment of Saixun, money needs to have three characteristics: storage value, exchange intermediary, and pricing account unit of goods and services. Even though gold was used as a form of money in the past, it is no longer applicable in the current society, and its storage cost in the actual use process is too high. Dwyer said that putting gold into the distributed ledger means that the ownership of gold can be subdivided into smaller granularity. He mentioned that goldmoney, a financial technology company, holds gold inventory and provides MasterCard payment services. In the goldmoney account, the value of 0.001 grams of gold can be reflected.
 
        In this way, the ownership maintained by digital ledger will be more conducive to the implementation of micro payment. Dwyer learned that Japan responded to negative interest rates by providing customers with more safes and keeping its currency independent of the financial system. It is very interesting that the European Central Bank announced on May 4 that it would stop producing 500 euro in 2018. This will make it more difficult and costly for financial institutions to hoard paper money. Not only that, at present, the value of physical gold is more than $7 trillion, while the value of digital currency is only $12billion, which also shows that there is a long way to go for digital currency to replace gold as an exchange carrier. But this year, CNN reported that bitcoin trading has the ability to surpass gold trading.
 
        Whether dlt’ It remains to be seen that the combination of S (distributed ledger) and gold evokes a form of exchange.
 
        
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