Thursday, January 4, 2018

2018 to see four gold backed cryptocurrencies implement ICO's between the beginning of January and the end of February

While some of the names about to be mentioned have already been discussed last year here at The Daily Economist, 2018 will see four companies dedicated to the gold-backed cryptocurrency market begin to trade in earnest when they initiate Initial Coin Offerings (ICOs) in either January or February.

Graphic courtesy of Finance Magnates
Throughout H2 2017 and continuing into 2018, the cryptographic tokens mania has caused more and more commodity traders to be interested in the concept of gold-backed cryptocurrencies. 
The combination of transparent and decentralized blockchain technology with a safe haven in the form of psychical gold has helped ensure the stable growth of token worth based on the valuable bullion. 
A digital coin represents the value of gold (for example one unit corresponds to ten grams), which is kept by the issuer, as a security for the cryptographic token’s value. In a rather large simplification, this works on the same principles as the gold standard, withdrawn from global financial markets back in the 1970s. – Finance Magnates


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