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RE: ZenGold to do an initial coin offering (ICO) on May 26 for new gold backed cryptocurrency
I know they kept saying "physical gold" in the video. I just wasn't sure they are serious because people call GLD physical gold too sometimes.
Also would they issue multiple coins backed by the same piece of gold the way a n ounce of gold is covering multiple GLD units?
This is super interesting waters.
If you look at Dubai's Onegram, and the CME's new collaboration with the UK Royal Mint to backstop a gold cryptocurrency, it would not behoove any new business to use paper gold backing because there are coming online too many validated options.
The learning curve keeps going up for me, lol.