Absolutely fantastic interview with precious metals Peter Schiff and crypto bull Raoul Pal.
Schiff does bring up some solid points about how a precious metals backed blockchain (or smart coin) with quick confirmation times would challenge fiat currencies. One does currently exist, quintric.com, however volume is quite low. These smart coins are backed by precious metals stored inside a vault with Alpine Gold Exchange, Utah USA. Quite interesting to see if it builds and takes off as the precious metal is in an audited vault and traded or staked in a liquidity pool on chain.
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