RATE Group | Perth Mint harnesses blockchain and crypto-currency technology to bring gold into digita…
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Perth Mint harnesses blockchain and crypto-currency technology to bring gold into digita…

10 Oct Perth Mint harnesses blockchain and crypto-currency technology to bring gold into digita…

Posted at 15:17h in Cryptocurrency News by

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Posted

October 11, 2019 02:00:50

The Egyptians were on to it, so too were the Incas and the Aztecs. Thousands of years later, gold, the world’s most prized metal, has been brought into the modern era.

Key points:

  • The Perth Mint is behind the world’s first gold traded through blockchain technology that is linked back to physical gold
  • The gold token is billed as an alternative to traditional gold products and an alternative to other cryptocurrencies
  • Geopolitical tensions have seen investors flocking to the safe haven of gold

Blockchain, the technology behind bitcoin, Ethereum and Libra will now make it easier for consumers to buy and sell gold that is held in The Perth Mint vaults.

The 120-year-old mint, which is the world’s largest refinery of newly minted gold, has teamed with InfiGold to develop the Perth Mint Gold Token (PMGT).

“Our aim is to make gold accessible to as many people in as many places as…

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