Please read, I mentioned stable coins. GLD EFT is only worth 42 Billion and its 100% centralized (works fine). You can sue if they lose your Gold. Investors are protected to their Gold by law. GDX is audited by a third party system with insured vault, plus you can do audit on blockchain. Quasi-Decentralization is the future.
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Investors also thought their gold was safe and protected by law in 1933 when gold was effectively outlawed and confiscated by the US government. Unless it is fully decentralized in a blockchain-based environment, then it is not safe.
Agree! A decentralized Stable Coin that uses collateralized debt mechanics could be a huge break through. MakerDAO, BitUSD, USDT to name a few. The same could be done with Gold. Interesting to see USDT (tether) over $7 million and climbing stored here. Its nearly seemless to swap crypto and low cost to swap Crypto to USDT on Poloniex. I don't think Poloniex exchange is decentralized so I would not trust it too much with large amounts of money sitting there. These decentralized exchanges starting to look very promising as they are increasing liquidity.