On the Bitshares network we also have a 'smartcoin' pegged to the price of Gold called! the asset is called BitGold. The value of 1 BitGold is pegged to the value of 1 Gram of Gold in USD and the value of the token is backed by the collateral used to issue it.
Each smartcoin (USD,CNY,EUR,GOLD,SILVER) is issued with at least 200% collateral in Bitshares (BTS is locked by a smart-contract). So you know at any time you can settle your smartcoin for 100% of its face value and the best part is there is no counter party risk, no KYC/AML, no ability to have the underlying asset to be confiscated from you, it is also transferable, deviable and fungible.
On the Bitshares network we also have a 'smartcoin' pegged to the price of Gold called! the asset is called BitGold. The value of 1 BitGold is pegged to the value of 1 Gram of Gold in USD and the value of the token is backed by the collateral used to issue it.
Each smartcoin (USD,CNY,EUR,GOLD,SILVER) is issued with at least 200% collateral in Bitshares (BTS is locked by a smart-contract). So you know at any time you can settle your smartcoin for 100% of its face value and the best part is there is no counter party risk, no KYC/AML, no ability to have the underlying asset to be confiscated from you, it is also transferable, deviable and fungible.
Want to know more? https://bitshares.org/technology/price-stable-cryptocurrencies/
The lines go up, so we're all happy. :)
just praying some day ... i will have dis